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Nobel Prize 2022: Douglas Diamond, Ben Bernanke and Philip Dybvig receives the Nobel Prize in Economics

New Delhi: On Monday, The Nobel Committee announced the Nobel Prize in the field of economics. The Nobel Prize in Economics has been announced for three American economists. The Royal Swedish Academy of Sciences has decided to award this year's Nobel Prize for Economics to Ben S. Bernanke, Douglas W. Diamond and Philipp H. Diebwig.

By Priyanka Verma 
Updated Date

New Delhi: The Nobel Committee on Monday also announced the Nobel Prize in the field of economics. The Nobel Prize in Economics has been announced for three American economists. The Royal Swedish Academy of Sciences has decided to award this year’s Nobel Prize for Economics to Ben S. Bernanke, Douglas W. Diamond and Philipp H. Diebwig. This award has been given for research on banks and financial crises. The Nobel Prize for Economics is called the ‘Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel’.

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The Nobel Committee at the Royal Swedish Academy of Sciences in Stockholm on Monday announced the Nobel Prize in Economics to Ben S. Bernanke, Douglas W. Diamond and Philipp H. Diebwig.

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Under this award, a cash prize of 10 million Swedish kronor (about 9 million US dollars) is given. The award will be presented on 10 December. Unlike other Nobel Prizes, the Prize in Economics was not mentioned in Alfred Nobel’s 1895 will, but was instituted in his memory by the Swedish central bank. The first winner was chosen in 1969.

Last year, 2021 the Nobel Prize in Economics was awarded to David Card and Joshua Angrist and Guido Imbens. Card was given this award for research into how the minimum wage, immigration and education affect the labor market. Angrist and Imbens were awarded for their studies on subjects that are not clear by traditional scientific methods.

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