This yr’s Nobel in economics has been awarded to 3 U.S.-based economists “for analysis on banks and monetary crises.”
The award to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig was introduced Monday by the Nobel panel on the Royal Swedish Academy of Sciences in Stockholm.
Nobel prizes carry a money award of 10 million Swedish kronor (about $1.2 million Cdn) and shall be handed out on Dec. 10.
Unlike the opposite prizes, the economics award wasn’t established in Alfred Nobel’s will of 1895 however by the Swedish central financial institution in his recollection. The first winner was chosen in 1969.
The work for which Ben Bernanke, Douglas Diamond and Philip Dybvig are being recognised has been essential to subsequent analysis that has enhanced our understanding of banks, financial institution regulation, banking crises and the way monetary crises ought to be managed.<a href=”https://twitter.com/hashtag/NobelPrize?src=hash&ref_src=twsrc%5Etfw”>#NobelPrize</a> <a href=”https://t.co/4drJwZ0yF9″>pic.twitter.com/4drJwZ0yF9</a>