The Nobel Committee announced the Nobel Prize in Economics on Monday.
The names of Ben S Bernanke, Douglas W Diamond and Philip H Dybvig have been announced. These three economists have been jointly selected for the award. The three have been awarded the world's most prestigious award for 'Research on Banks, Financial Crisis' in the field of economics.
According to the reports, the committee said, "The three award winners significantly improved our understanding of the role of banks in the economy, especially during times of financial crisis. An important piece of information from his research is why it is important to avoid bank collapses.
The first winner of the Nobel Prize in economics was elected in 1969. In 2021, the Nobel Prize in Economics was awarded to David Card and Jehosua Angrist and Guido Inbens. David Card received the award for his research 'How Minimum Wages, Migration and Education Affect the Labor Market'.
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