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Ben Bernanke
Sign in to saveAlso known as Ben Shalom Bernanke, Benjamin Shalom Bernanke, Benjamin Bernanke
American economist (born 1953)
Ben Bernanke is an American economist born in 1953 who is best known for serving as Chairman of the Federal Reserve, the central banking system of the United States. His work and decisions as Federal Reserve chief, particularly during the 2008 financial crisis, significantly influenced U.S. monetary policy and economic recovery efforts.
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Listeners · Last.fm
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Recent publications · Crossref
5 total works indexed
- Fitting Linear Mixed-Effects Models Using
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· 2015 · cited 76,010x
- Fast gapped-read alignment with Bowtie 2
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- HISAT: a fast spliced aligner with low memory requirements
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- Ultrafast and memory-efficient alignment of short DNA sequences to the human genome
· 2009 · cited 19,940x
- A global reference for human genetic variation
· 2015 · cited 17,797x
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Quotes
- “There’s no denying that a collapse in stock prices today would pose serious macroeconomic challenges for the United States. Consumer spending would slow, and the U.S. economy would become less of a magnet for foreign investors. Economic growth, which in any case has recently been at unsustainable levels, would decline somewhat. History proves, however, that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.”
- “The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.”
- “Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.”
- “House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals, including robust growth in jobs and incomes, low mortgage rates, steady rates of household formation, and factors that limit the expansion of housing supply in some areas.”
- “To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above.”
- “Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much. However, careful economic analysis does have one important benefit, which is that it can help kill ideas that are completely logically inconsistent or wildly at variance with the data. This insight covers at least 90 percent of proposed economic policies.”
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Nobel Prize
- The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel2022
“for research on banks and financial crises”
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Encyclopedic overview
Ben Shalom Bernanke (/bərˈnæŋki/ bər-NANG-kee; born December 13, 1953) is an American economist who served as the 14th chairman of the Federal Reserve from 2006 to 2014. After leaving the Federal Reserve, he was appointed a distinguished fellow at the Brookings Institution. During his tenure as chairman, Bernanke oversaw the Federal Reserve's response to the 2008 financial crisis, for which he was named the 2009 Time Person of the Year. Before becoming Federal Reserve chairman, Bernanke was a tenured professor at Princeton University and chaired the Department of Economics there from 1996 to September 2002, when he went on public service leave. Bernanke was awarded the 2022 Nobel Memorial Prize in Economic Sciences, jointly with Douglas Diamond and Philip H. Dybvig, "for research on banks and financial crises", more specifically for his analysis of the Great Depression.
From August 5, 2002, until June 21, 2005, he was a member of the Board of Governors of the Federal Reserve System, proposed the Bernanke doctrine, and first discussed "the Great Moderation"—the theory that traditional business cycles have declined in volatility in recent decades through structural changes that have occurred in the international economy, particularly increases in the economic stability of developing nations, diminishing the influence of macroeconomic (monetary and fiscal) policy.
Excerpted from Wikipedia’s “Ben Bernanke” article, available under the CC BY-SA 4.0 licence.
Gallery (10)
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