“Acceptance Speech” Frontiers of Knowledge Award 2021 in Economics, Finance and Management

Acceptance speech by John Moore, winner of the 2021 Frontiers of Knowledge Award in Economics, Finance and Management, who was honored alongside Ben S. Bernanke, Mark Gertler and Nobuhiro Kiyotaki for their contributions to understanding how financial market imperfections can amplify economic fluctuations and trigger deep recessions. His research, particularly the Kiyotaki-Moore model developed with Nobuhiro Kiyotaki, has helped explain how credit constraints and changes in the value of assets used as collateral can reduce investment and deepen economic crises.

Moore reflects on his research career and acknowledges the influence of Spain on the development of his economic ideas. His work with Kiyotaki has helped explain how small financial shocks can have persistent effects on economic activity through feedback mechanisms linking asset values, credit availability and investment.

Acceptance speech by John Moore, winner of the 2021 Frontiers of Knowledge Award in Economics, Finance and Management, who was honored alongside Ben S. Bernanke, Mark Gertler and Nobuhiro Kiyotaki for their contributions to understanding how financial market imperfections can amplify economic fluctuations and trigger deep recessions. His research, particularly the Kiyotaki-Moore model developed with Nobuhiro Kiyotaki, has helped explain how credit constraints and changes in the value of assets used as collateral can reduce investment and deepen economic crises.

Moore reflects on his research career and acknowledges the influence of Spain on the development of his economic ideas. His work with Kiyotaki has helped explain how small financial shocks can have persistent effects on economic activity through feedback mechanisms linking asset values, credit availability and investment. This perspective has expanded the analysis of business cycles and our understanding of the relationship between financial markets and the real economy.