The Alfred Nobel Memorial Prize for the year 2022 has been awarded by the Bank of Sweden to US scholars Douglas Diamond, Philip Debweg, and former US Federal Reserve Chairman Ben Bernanke.
The Nobel Committee of the Royal Swedish Academy of Sciences in Stockholm states that the three experts received the award for their work on banking and financial crises around the world.
The group said: “Ben Bernanke, Douglas Diamond, and Philip Dipwig, this year’s economics prize winners, have improved our knowledge of banks’ contributions to the economy, notably during financial crises. Their study made a significant discovery that highlights the significance of preventing bank failures.”
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The investigation of banks and crises won the 2022 Nobel Prize in Economics.
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