STOCKHOLM — Three economists – including former U.S. Federal Reserve Chairman Ben Bernanke – have won this year’s Nobel Memorial Prize in Economic Sciences.
According to The Associated Press, the Royal Swedish Academy of Sciences announced Monday that Bernanke, Douglas W. Diamond and Philip H. Dybvig, who are all based in the United States, won the award for their “research on banks and financial crises.”
[ Nobel Peace Prize goes to human rights activist in Belarus; organizations in Ukraine, Russia ]
“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,” the academy said in a news release. “An important finding in their research is why avoiding bank collapses is vital.”
[ French author Annie Ernaux wins Nobel Prize for literature ]
The economics award was the last of the Nobel Prizes to be awarded this year. The other 2022 prize recipients include the following:
- Physiology or medicine: Svante Paabo for his research on human evolution;
- Physics: Alain Aspect, John F. Clauser and Anton Zeilinger for their work in quantum information science;
- Chemistry: Carolyn R. Bertozzi, Morten Meldal and K. Barry Sharpless for their work in “click chemistry” and “bioorthogonal chemistry”;
- Literature: Annie Ernaux for her books that blend fiction with autobiography;
- Peace: Belarus activist Ales Bialiatski, Russian human rights group Memorial and the Ukrainian Center for Civil Liberties organization.
[ 3 win Nobel Prize for work in ‘click chemistry’ ]
Each prize includes an award of 10 million Swedish kronor, or about $900,000, according to the AP.
– The Associated Press contributed to this report.