The Nobel Prize in Economics for 2022 will be awarded to Douglas Diamond, Ben Bernanke and Philip Dybvig from the United States, it was announced today (Monday) by the Royal Swedish Academy of Sciences. Their win comes for their contribution to research on banking and financial crises. They have won the prize for their work since the 1980s The qualifiers, which carried practical importance in regulating the financial markets and dealing with financial crises.
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“Ben Bernanke, Douglas Diamond and Philip Dybvig significantly improved our understanding of the role of banks in the economy, especially during financial crises,” it was said during the announcement of their win. It was also noted that “an important finding in their research is why avoiding bank collapse is essential.”
Like the three, most past winners of the award have also been American. The award was established by the Central Bank of Sweden, and was first awarded in 1969.