Rankings / Candidate
Nobuhiro Kiyotaki
Princeton University · Macro
Photo: 大臣官房人事課, CC BY 4.0, via Wikimedia Commons
Currently #11, tier Field, score 14.3, named by 1 source.Score history: 100.0, 25.0, 14.3
The work. The Kiyotaki-Moore model showed how credit limits tied to collateral turn a small shock into a long slump: asset prices fall, borrowing shrinks, investment drops, and prices fall again. With Randall Wright he also modeled why money exists at all.
The case for. Credit cycles are the spine of post-2008 macro, and the committee already blessed financial frictions with Bernanke in 2022.
The case against. That 2022 prize may have spent the crisis budget for a while, and Moore would need a seat on the same line.
The KmikeyM angle. A dip in the KmikeyM share price shrinks what the company can commit to, which shrinks confidence, which dips the price: the Kiyotaki-Moore loop on one man.
What the sources say
- Clarivate alumni (prior years) named Nobuhiro Kiyotaki: named in 2010: for formulation of the Kiyotaki-Moore model, which describes how small shocks to an economy can lead to large output fluctuations (heat 100) Preseason: the Clarivate alumni pool