Three economists based in the United States received on Monday the 2022 Nobel Prize in economic sciences for their discoveries on “how society deals with financial crises.”
Ben Bernanke, Douglas Diamond and Philip Dybvig improved the world’s understanding about the role of banks during financial crises, including why it is crucial to prevent banks from collapsing in those times.
“The laureates’ insights have improved our ability to avoid both serious crises and expensive bailouts,” prize committee chair Tore Ellingsen noted.
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