ERKEN HABER - Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig have been awarded the 2022 Nobel Prize in economic sciences on Monday for their research into banking and financial crises.
The Royal Swedish Academy of Sciences honored the trio with the 2022 Sveriges Riksbank Prize in Economic Sciences "for research on banks and financial crises," the academy said in a statement.
"This year’s laureates in the Economic Sciences, Ben Bernanke, Douglas Diamond and Philip Dybvig, have significantly improved our understanding of the role of banks in the economy, particularly during financial crises. An important finding in their research is why avoiding bank collapses is vital," the academy also added.
Last year's Nobel Prize in economic sciences was awarded to David Card "for his empirical contributions to labour economics" with one half, and Joshua D. Angrist and Guido W. Imbens "for their methodological contributions to the analysis of causal relationships" with the other half jointly.
A week of Nobel Prize announcements kicked off on October 3 with Swedish scientist Svante Paabo receiving the award in medicine for unlocking secrets of Neanderthal DNA that provided key insights into our immune system.
Three scientists jointly won the prize in physics on Tuesday. Frenchman Alain Aspect, American John F Clauser and Austrian Anton Zeilinger had shown that tiny particles can retain a connection with each other even when separated, a phenomenon known as quantum entanglement, that can be used for specialised computing and to encrypt information.
The Nobel Prize in chemistry was awarded on Wednesday to Americans Carolyn R Bertozzi and K Barry Sharpless, and Danish scientist Morten Meldal for developing a way of “snapping molecules together” that can be used to explore cells, map DNA and design drugs that can target diseases such as cancer more precisely.
French author Annie Ernaux won this year’s Nobel Prize in literature on Thursday. The panel commended her for blending fiction and autobiography in books that fearlessly mine her experiences as a working-class woman to explore life in France since the 1940s.
The Nobel Peace Prize went to jailed Belarus human rights activist Ales Bialiatski, the Russian group Memorial and the Ukrainian organisation Centre for Civil Liberties on Friday.