2022 Nobel Economics prize was awarded to Ben Bernanke, Douglas Diamond & Philip Dybvig ‘for their research on financial crises’. Twitter/@NobelPrize
New Delhi: The Royal Swedish Academy of Sciences on Monday jointly awarded the 2022 Nobel Prize in Economics to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig “for research on banks and financial crises.”
Nobel prizes carry a cash award of 10 million Swedish kronor (nearly $900,000) and will be handed out on 10 December.
Unlike the other prizes, the economics award wasn’t established in Alfred Nobel’s will of 1895 but by the Swedish central bank in his memory. The first winner was selected in 1969.
Last year, half of the award went to David Card for his research on how the minimum wage, immigration and education affect the labor market. The other half was shared by Joshua Angrist and Guido Imbens for proposing how to study issues that don’t easily fit traditional scientific methods.
With inputs from agencies
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