Addis Ababa, Ethiopia (13 October 2022)
The Nobel Prize has been recognizing and awarding scholars in different field of studies since 1901. This year’s victors, announced between 3-10 October 2022, included three American economists recognized for their extraordinary contribution to our understanding of banks and their roles, especially during financial crisis.
While having done their studies on modern banking independently, Ben Bernanke, Douglas Diamond and Philip Dybvig have ultimately improved our ability to avoid both serious crises and expensive bailouts. The 10 million Swedish kronor ($882,805) they have won is to be shared equally among the victors following the Nobel Prize award ceremony scheduled for December.
Source: The Nobel Prize
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