Douglas Diamond
Douglas Diamond | |
|---|---|
Diamond at the White House in 2022 | |
| Born | October 25, 1953 |
| Known for | Diamond–Dybvig model |
| Children | Rebecca Diamond |
| Awards | Nobel Memorial Prize in Economic Sciences (2022) |
| Academic background | |
| Education | Brown University (BA) Yale University (MA, MPhil, PhD) |
| Thesis | Essays on Information and Financial Intermediation (1980) |
| Doctoral advisor | Stephen A. Ross |
| Academic work | |
| Discipline | Economics |
| Institutions | University of Chicago |
Douglas Warren Diamond (born October 25, 1953) is an American economist. He is the Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, where he has taught since 1979. Diamond specializes in the study of financial intermediaries, financial crises, and liquidity. He is a former president of the American Finance Association (2003) and the Western Finance Association (2001–02).
In October 2022, Diamond was awarded the Nobel Memorial Prize in Economic Sciences jointly with Ben Bernanke and Philip H. Dybvig. The prize was awarded in recognition of the economists' "research on banks and financial crises"
Diamond is best known for his work on financial crises and bank runs, particularly the influential Diamond–Dybvig model published in 1983 and the Diamond model of delegated monitoring published in 1984. In 2016, he was awarded the CME Group-MSRI Prize in Innovative Quantitative Applications.