Professor Douglas W. Diamond, the Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, will be appointed as the Monetary Authority of Singapore (MAS) Term Professor in Economics and Finance from Sep 6 to 20.
He will be hosted by the National University of Singapore(NUS) Business School, where he will advise faculty members and students on their research, work on joint research papers with faculty members, and speak at seminars and research workshops.
Professor Diamond will also deliver a public lecture at the NUS Business School on Sep 12 entitled "Short-term debt and financial regulation", which will examine how new regulatory frameworks can mitigate the risks of financial crises without destroying access to funding.
Professor Diamond is also a former president of the American Finance Association and Western Finance Association, as well as a fellow of the Econometric Society, the American Academy of Arts and Sciences, and the American Finance Association. In addition, he is a research associate at the National Bureau of Economic Research and a visiting scholar at the Federal Reserve Bank of Richmond.
He has also written extensively on financial crises, financial intermediaries and liquidity. He is known for the Diamond-Dybvig model of bank runs, which shows why a financial institution with long-maturity assets and short-maturity liabilities could be unstable.