This year’s Nobel Prize in Economics has been awarded to three people for their research on banking and financial crises.
According to the rationale, it has improved our understanding of the role of banks in the economy.
Americans Ben Bernanke, Douglas Diamond and Philip Depwig will participate in the award.
This year’s Nobel Prize in Economics goes to research on banking and financial crises. The three researchers who will share the prize are Ben Bernanke, Douglas Diamond and Philip Dipvig.
“This year’s winner of the Economics Prize has significantly improved our understanding of the role of banks in the economy, especially during financial crises. Their research shows, among other things, why it is so important to avoid bank collapse,” the Royal Swedish Academy of Sciences wrote in its justification.
Ben S. Bernanke was the former head of the US central bank and now works at the Brookings Institution. Douglas Diamond is attached to the University of Chicago and Philip Debweg is to Washington University in St. Louis.
The Swedish Riksbank Prize in Economic Sciences in Memory of Alfred Nobel is not an ordinary Nobel Prize, but was established in 1968.
The award is awarded on December 10 during the same award ceremony as the other awards.
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