| Philip H. Dybvig is well known for his paper, Diamond-Dybvig [1983], one of the most widely cited papers in Finance and Economics, that is widely used as the basis for modeling the financial crisis. The Diamond-Dybvig model shows how banks serve the economy by creating liquidity, and how this liquidity creation subjects the banks to runs if there is not any deposit insurance or other protection. Dybvig previously taught at Princeton University and was tenured at Yale University. He has published two textbooks and more than 35 articles in leading journals. He has consulted for government, organizations, and individuals. |
