- The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2022 to Ben Bernanke, Douglas Diamond and Philip Dybvig, “for research on banks and financial crises”.
- Their discoveries improved how society deals with financial crises.
- The Great Depression of the 1930s paralysed the world’s economies for many years and had vast societal consequences. However, we have managed subsequent financial crises better thanks to research insights from this year’s laureates. They have demonstrated the importance of preventing widespread bank collapses.
- This year’s laureates in economic sciences, Ben Bernanke, Douglas Diamond and Philip Dybvig, have significantly improved our understanding of the role of banks in the economy, particularly during financial crises. An important finding in their research is why avoiding bank collapses is vital.
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| Economic Sciences Nobel Prize 2022 |