A | Stockholm, Oct 10 (UNI) The Royal Swedish Academy of Sciences announced Monday that three US-based economists won the 2022 Nobel Memorial Prize in Economic Sciences “for research on banks and financial crises”.
The winners are Ben Bernanke, former head of the US Federal Reserve and currently with the Brookings Institution in Washington DC, Douglas Diamond of the University of Chicago and Philip Dybvig of Washington University in St. Louis, Missouri. The winners share a prize of about $900,000.
The nobelprize.org put out a release saying:
"Their discoveries improved how society deals with financial crises
"This year’s laureates in the Economic Sciences, Ben Bernanke, Douglas Diamond and Philip Dybvig, have significantly improved our understanding of the role of banks in the economy, particularly during financial crises. An important finding in their research is why avoiding bank collapses is vital.
"Modern banking research clarifies why we have banks, how to make them less vulnerable in crises and how bank collapses exacerbate financial crises. The foundations of this research were laid by Ben Bernanke, Douglas Diamond and Philip Dybvig in the early 1980s. Their analyses have been of great practical importance in regulating financial markets and dealing with financial crises.
"For the economy to function, savings must be channelled to investments. However, there is a conflict here: savers want instant access to their money in case of unexpected outlays, while businesses and homeowners need to know they will not be forced to repay their loans prematurely. In their theory, Diamond and Dybvig show how banks offer an optimal solution to this problem. By acting as intermediaries that accept deposits from many savers, banks can allow depositors to access their money when they wish, while also offering long-term loans to borrowers.
"However, their analysis also showed how the combination of these two activities makes banks vulnerable to rumours about their imminent collapse. If a large number of savers simultaneously run to the bank to withdraw their money, the rumour may become a self-fulfilling prophecy – a bank run occurs and the bank collapses. These dangerous dynamics can be prevented through the government providing deposit insurance and acting as a lender of last resort to banks.
"Diamond demonstrated how banks perform another societally important function. As intermediaries between many savers and borrowers, banks are better suited to assessing borrowers’ creditworthiness and ensuring that loans are used for good investments.
"Ben Bernanke analysed the Great Depression of the 1930s, the worst economic crisis in modern history. Among other things, he showed how bank runs were a decisive factor in the crisis becoming so deep and prolonged. When the banks collapsed, valuable information about borrowers was lost and could not be recreated quickly. Society’s ability to channel savings to productive investments was thus severely diminished.
"The laureates’ insights have improved our ability to avoid both serious crises and expensive bailouts,” says Tore Ellingsen, Chair of the Committee for the Prize in Economic Sciences.
The Nobel Memorial Prize in Economic Sciences was not included in Alfred Nobel's will, voanews.com reported.
It was established by the Swedish central bank in 1968 — and is officially the "Sveriges Riksbank Prize in Economic Sciences in memory of Alfred Nobel" to mark the bank’s 300th anniversary. It was first awarded in 1969 and has been funded by the bank since then.
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世界最大直径水下盾构隧道、国内首条穿黄单洞双层盾构隧道——济南黄岗路黄河隧道于8月25日上午正式通车。
B | 这条隧道南起蓝翔中路，北接G309互通立交，全长约5755米，单洞双层布置，设计时速60公里。
通车后，济南主城区与新旧动能转换起步区之间的跨黄通勤时间从约40分钟压缩至5分钟，将有效缓解现有跨黄通道的交通压力，让市民从“绕行过黄河”变为“直通过黄河”，有力促进济南拥河发展，加快新旧动能转换起步区建设。值得一提的是，济南牌照(鲁A、鲁S)9座及以下小型客车可免费通行该隧道。
C | 
“我记得20世纪70年代初的时候穿越黄河靠的还是摆渡船，当时还有个铁路大桥，公路基本上没有。如今穿黄已经实现了四桥三隧，非常方便。”一位市民寻访团的市民代表告诉记者。据悉，由济南城市建设集团负责建设的“四桥四隧”工程已完成“四桥三隧”建设任务，济南航天大道黄河隧道(Ⅰ期)目前已双线贯通，跨黄通道正加速成网。
另一位市民代表马女士告诉新黄河记者：“我们作为第一辆车剪彩进入隧道后，看到路面非常平整、宽阔，车辆行驶起来非常平稳，也就用了4分多钟就穿越了隧道。记得在我小时候，需要乘坐公交车穿越黄河老桥绕行，如今真是方便多了。对于济南籍的小客车还是免费的，非常好。”
向南，是济南主城区的繁华。向北，是起步区蓬勃生长的新图景。济南黄岗路黄河隧道像一条纽带，把黄河两岸从“隔河相望”变成“紧密相拥”。同时，这条穿黄隧道也将成为人才、资源、产业在两岸之间更快流动的一条城市新动脉。
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