Economics Nobel awarded to 3 for research on banks, financial crisis

Nobel prize for economics was awarded to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig at the Royal Swedish Academy of Sciences in Stockholm on Monday.

The US based researchers were given the prestigious award for their work on banks and financial crisis, the Nobel committee said announcing the prize.

Last year, the award was shared by David Card- for his research on how the minimum wage, immigration and education affect the labor market- and Joshua Angrist and Guido Imbens- for proposing how to study issues that don’t easily fit traditional scientific methods.

The award which was established by the Swedish central bank in the memory of Alfred Nobel is the last of Nobel prize announcements for the year 2022 which kicked off on October 3 with Swedish scientist Svante Paabo receiving the award in medicine for his work on Neanderthal DNA.

Three scientists jointly won the prize in physics Tuesday- Frenchman Alain Aspect, American John F. Clauser and Austrian Anton Zeilinger- for their work on quantum physics.

The Nobel Prize in chemistry was awarded on Wednesday to Americans Carolyn R. Bertozzi and K. Barry Sharpless, and Danish scientist Morten Meldal for their work on click chemistry.

French author Annie Ernaux won this year’s Nobel Prize in literature on Thursday while the Nobel Peace Prize went to jailed Belarus human rights activist Ales Bialiatski, the Russian group Memorial and the Ukrainian organization Center for Civil Liberties on Friday.