The winners of the Nobel Prize in Economics in 2022 are Americans: Professor Ben Bernanke from the Brookings Institute, Douglas Diamond from the University of Chicago and Philip Dybwig from the University of St. Louis, UNN reports with reference to the Nobel Committee's announcement.
"The 2022 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded to Ben S. Bernanke, Douglas W. Diamond, Philip H. Dybwig for research on banks and financial crises," the announcement reads.
As noted, the Great Depression of the 1930s paralyzed the world economy for many years and had enormous social consequences.
However, thanks to the research of the 2022 laureates, the world has better coped with subsequent financial crises, the committee believes.
"They demonstrated the importance of preventing a large-scale banking collapse," the report said.
The presentation of the prize in economics concludes the Nobel week.