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STOCKHOLM (AP) — This year’s Nobel Prize in Economics was awarded to former Federal Reserve Chairman Ben S. Bernanke and two U.S. economists, Douglas W. Diamond and Philip H. Dabway Grid for their “research on banking and financial crises.”
The prize was announced on Monday by the Nobel Committee of the Royal Swedish Academy of Sciences in Stockholm.
The committee said their research showed “why avoiding bank failures is crucial”.
The cash prize for the Nobel Prize is SEK 10 million (nearly $900,000) and will be awarded on December 10.
Unlike other awards, the Economics Prize was not established by Alfred Nobel’s will in 1895, but was established by the Riksbank in his memory. The first winner was selected in 1969.
Last year, half of the awards went to David Card for his research on how minimum wages, immigration and education affect the labor market. The other half is shared by Joshua Angrist and Guido Imbens to ask how research is not easily adaptable to traditional scientific methods.
A week of Nobel Prize announcements Starts October 3rd with Swedish scientists Svante Paabo wins medicine award Unravel the secrets of Neanderthal DNA that provide key insights into our immune system.
The three scientists shared the Physics Prize on Tuesday. French Alain Aspect, American John F. Clauser and Austrian Anton Zeilinger It has been shown that tiny particles can remain connected to each other even when separated, a phenomenon known as quantum entanglement, which can be used for specialized computing and encrypting information.
Nobel Prize in Chemistry awarded on Wednesday Americans Carolyn R. Bertozzi and K. Barry Sharpless, and Danish scientist Morten Meldal For developing a method of “linking molecules together” that can be used to explore cells, map DNA and design drugs that can more precisely target diseases such as cancer.
french writer anne erno won this year’s Nobel Prize in Literature on Thursday. The jury praised her for incorporating fiction and autobiography into the book, fearlessly digging into her experiences as a working-class woman, exploring life in France since the 1940s.
Nobel Peace Prize awarded to jailed Belarusian human rights activist Ales Bialiatski, Russian Group Memorial and Ukrainian Organization Center for Civil Liberties on Friday.
Follow all AP stories about the Nobel Prize at https://apnews.com/hub/nobel-prizes
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