Nobel Prize in Economics awarded to Ben S Bernake, Douglas W Diamond and Philip H Dybvig

OSLO: The Nobel Prize 2022 in Economics have been awarded to Ben S Bernake, Douglas W Diamond, and Philip H Dybvig for research on banks and financial crisis.

The committee said that three laureates have significantly improved the understanding of the role of the banks in the economy, particularly during financial crises and an important finding in their research is why avoiding bank collapses is vital.

BREAKING NEWS: The Royal Swedish Academy of Sciences has decided to award the 2022 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig “for research on banks and financial crises.”#NobelPrize pic.twitter.com/cW0sLFh2sj

— The Nobel Prize (@NobelPrize) October 10, 2022

The Nobel Prize for Economics was announced soon after declaring the winners for Peace Prize. The Nobel Peace Prize for 2022 was awarded to human rights advocate Ales Bialiatski from Belarus, the Russian human rights organization Memorial and an.d the Ukrainian human rights organization Center for Civil Liberties.