Former Fed Chair Ben Bernanke wins Nobel prize for research on financial crises.
October 10, 2022
Ben S Bernanke, Douglas W Diamond and Philip H Dybvig were awarded the Nobel Prize in economics for research on banks and financial crises.
Their research work included banks, bank regulation, banking crises and how financial crises should be managed.
The US-based economists’ research will help reduce the risk of financial crises developing into long-term depressions with severe consequences for society.
Bernake served as the 14th chairman of the US Federal Reserve from 2006 to 2014 where he oversaw the Fed’s response to the late-2000s financial crisis.
Moreover, Diamond and Philip Dybvig developed theoretical models that explain why banks exist.
In 2016, Satoshi Nakamoto was nominated for the Nobel Prize in economics for creating bitcoin.