The Nobel Economics Prize Rewards Bank Run Breakthroughs
Ones and Tooze
Is Bernanke a Theorist or a Policy Maker?
Bernanke in 2008 was dealing with a meltdown in banking system that totally started with that of the 1930s. It took us a while to recognize that, but it was a market based banking system so banks didn't take funds from regular depositors. The central banks then had to address through quantitative easing interventions which originally were proposed as ways of stimulating economies like Japan.
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