Douglas Diamond is an economist and the Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, where he specializes in the study of financial intermediaries, financial crises, and liquidity. He is also the Fisher Black Visiting Professor of Finance at the MIT Sloan School of Management.
In 1983, Diamond co-authored a paper with fellow University of Chicago professor Philip Dybvig, "Bank Runs, Deposit Insurance, and Liquidity," and the Diamond-Dybvig model became widely recognized as the standard for analyzing bank runs and liquidity crises.
Subsequent works include research on bank regulation and deposit insurance, debt maturity structure and the role of short-term debt, and theory of financial intermediaries.
He is a research associate of the National Bureau of Economic Research and a visiting scholar at the Federal Reserve Bank of Richmond. He was president of the American Finance Association and the Western Finance Association and is a fellow of the Econometric Society, the American Academy of Arts and Sciences, and the American Finance Association.
In February 2016, he was awarded the CME Group - Mathematical Sciences Research Institute Prize In Innovative Quantitative Applications, an annual award designed to recognize individuals or groups who contribute original concepts and innovation in the use of mathematical, statistical or computational methods for the study of the behavior of markets, and more broadly of economics.
Diamond earned a bachelor's degree in economics from Brown University in 1975. He earned master's degrees in 1976 and 1977 and a PhD in 1980 in economics from Yale University.
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