Nobel Memorial Prize in Economic Sciences 2022 Winners List

Nobel Memorial Prize in Economic Sciences 2022: The Royal Swedish Academy of Sciences has announced the award of the Sveriges Riksbank Prize 2022 in Economic Science on 10th October 2022. Philip H Dybvig, Ben S Bernanke, and Douglas W Diamond have won the Nobel Prize for economics science for research on banks and financial crises. The prizes carry a cash award of 10 million Swedish kronor (nearly $900,000) and will be handed out on 10th December 2022. The committee said that the three laureates in economic science significantly improve our understanding of the role of banks in the economy.

Philip H Dybvig

Philip H. Dybvig was born on 22nd May 1955. He is a brilliant economist whose work has been transformative in his field and has had an ineffaceable impact on nations’ financial markets and the health of the economy. He has done Ph.D. in 1979 from Yale University, New Haven, CT, USA. Philip H. Dybvig is a banking and finance expert at Washington University in St. Louis.

Ben S Bernanke

Ben S Bernanke, the former chair of the US Federal Reserve & one of three economists to share the Nobel Prize in economic sciences. He was born on 13th December 1953 in Augusta, USA. He has done Ph.D. from Massachusetts Institute of Technology, Cambridge, USA in 1979. Bernake wrote a paper that broke ground in explaining that bank failures can propagate a financial crisis rather than simply being a result of the crisis.

Douglas W Diamond

Douglas W Diamond has been a professor at the Hong Kong University of Science and Technology, MIT Sloan School of Management, and the University of Bonn. He is known in particular for his research on financial intermediaries, liquidity, and financial crises. Professor Diamond has made extraordinary contributions to the field of economics and our collective understanding of the role financial institutions play in society. He was born in 1953 in the USA.

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All About Nobel Memorial Prize in Economic Sciences 2022

• The Royal Swedish Academy of Sciences awarded the Sveriges Riksbank Prize of Economic Science.
• This year laureates in Economic science have significantly improved our understanding of the role of banks in the economy and an important finding in their research is why avoiding bank collapses is vital.
•  10 million Swedish kronor, to be shared equally among the laureates.
• The research present that economic science reduces the risk of financial crises developing into long-term depression with severe consequences for society.
• Nobel Prize is a prestigious prize awarded separately in six different fields, fields are Physics, Chemistry, Physiology or Medicine, Literature, and Peace.
• The Sveriges Riksbank established the award in the year of 1968.
• 53 prizes in economic sciences have been awarded since 1969 by the Royal Swedish Academy of Sciences
• Till now only two women have been awarded the Nobel prize in economics.

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