Ben Bernanke shares Nobel prize for banking research

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STOCKHOLM — This year’s Nobel Prize in Economics has been awarded to former Federal Reserve Chairman Ben S. Bernanke and two American economists, Douglas W. Diamond and Philip H. Dybvig, “for their research on banks and financial crisis. »

The prize was announced Monday by the Nobel panel at the Royal Swedish Academy of Sciences in Stockholm.

The committee said their work had shown in their research “why avoiding bank meltdowns is vital”.

The Nobel Prizes carry a cash prize of 10 million Swedish crowns (nearly $900,000) and will be awarded on December 10.

Unlike other prizes, the Economics Prize was not created in Alfred Nobel’s will of 1895 but by the Swedish central bank in his memory. The first winner was selected in 1969.

Read more: Why Ales Bialiatski won the 2022 Nobel Peace Prize

Last year, half of the prize went to David Card for his research on the impact of minimum wage, immigration and education on the labor market. The other half was shared by Joshua Angrist and Guido Imbens for coming up with how to study questions that don’t easily fit traditional scientific methods.

A week of Nobel Prize announcements kicked off on October 3 with Swedish scientist Svante Paabo receiving the prize in medicine for unlocking the secrets of Neanderthal DNA that provided key insights into our immune system.

Three scientists jointly won the physics prize on Tuesday. Frenchman Alain Aspect, American John F. Clauser and Austrian Anton Zeilinger had shown that tiny particles can maintain a connection with each other even when separated, a phenomenon known as quantum entanglement. , which can be used for specialized computing and to encrypt information.

Read more: What Ukraine’s Nobel Peace Prize-winning human rights group expects from the West

The Nobel Prize in Chemistry was awarded on Wednesday to Americans Carolyn R. Bertozzi and K. Barry Sharpless, as well as Danish scientist Morten Meldal for developing a way to “glue molecules together” that can be used to explore cells, map DNA and design drugs that can more precisely target diseases like cancer.

French writer Annie Ernaux won the Nobel Prize for Literature on Thursday. The jury praised her for blending fiction and autobiography in books that fearlessly tap into her experiences as a working-class woman to explore life in France since the 1940s.

The Nobel Peace Prize was awarded on Friday to imprisoned Belarusian human rights activist Ales Bialiatski, the Russian group Memorial and the Ukrainian organization Center for Civil Liberties.

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