(MENAFN) Ben S. Bernanke, Douglas W. Diamond, as well as Philip H. Dybvig have received the 2022 Nobel award in economic sciences on Monday for their study into banking and economic crises.
The Royal Swedish Academy of Sciences awarded the trio with an honor of the 2022 Sveriges Riksbank Prize in Economic Sciences "for research on banks and financial crises," the academy stated in an announcement.
The academy also mentioned that "This year’s laureates in the 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."
Last year's Nobel Prize in economic sciences was given to non-other but David Card "for his empirical contributions to labour economics" with one half, while Joshua D. Angrist along with Guido W. Imbens "for their methodological contributions to the analysis of causal relationships" with the other half mutually.
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