Former Federal Reserve Chair Ben S. Bernanke and two US-based colleagues won the 2022 Nobel Prize in Economics for their research into banking and financial crises.
Douglas Diamond, Philip Dybvig and the one-time central banker will share the 10-million-kronor ($885,000) award, the Royal Swedish Academy of Sciences announced in Stockholm on Monday.
The winners “have significantly improved our understanding of the role of banks in the economy, particularly during financial crises, as well as how to regulate financial markets,” said the official Twitter feed of the Nobel Prize. Their research “reduces the risk of financial crises developing into long-term depressions with severe consequences for society.”
