Bernankes prodigious contribution to monetary policy
“Ben Bernanke is the best example of an academic who made a huge contribution to monetary policy, especially in difficult times,” says Roberto Perotti, of the Department of Economics and who was teaching assistant to Bernanke at MIT, commenting on the awarding of the Nobel prize in Economics to Bernanke, alongside Douglas W. Diamond e Philip H. Dybvig. “The prize was awarded to Bernanke for three reasons: his study of the Great Depression and the mistakes made with monetary policy in that period; his study of the financial accelerator effect, ie how small shocks to monetary policy can have large effects; his advances on the econometrics of monetary policy.”