Douglas W. Diamond

Douglas W. Diamond specializes in the study of financial intermediaries, financial crises, and liquidity. He is the Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business. He has been on the faculty since 1979.

In 2022, Diamond was awarded -- with two other recipients - the Nobel Prize in Economic Sciences. The prize was awarded for improving “our understanding of the role of banks in the economy, particularly during financial crises.” His research has changed the way people view banks and laid the groundwork for how central bankers, regulators, policymakers and academics approach modern finance.

Diamond is a research associate of the National Bureau of Economic Research. He is a member of the National Academy of Sciences, is a fellow of the Econometric Society, and the American Finance Association and was president of the American Finance Association and the Western Finance Association. Diamond received the Onassis Prize in Finance in 2018, the CME Group- Mathematical Sciences Research Institute Prize in Innovative Quantitative Applications in 2016 and the Morgan Stanley-American Finance Association Award for Excellence in Finance in 2012.

He has taught at Yale and was a visiting professor at the MIT Sloan School of Management, the Hong Kong University of Science and Technology as well as the University of Bonn. 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.