2022 Nobel Memorial Prize in Economic Sciences information
Award
Award
The 2022 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Bernanke, Diamond, and Dybvig"for research on banks and financial crises."
Date
10 October 2022 (2022-10-10) (announcement)
10 December 2022 (ceremony)
Location
Stockholm
Country
Sweden
Presented by
Royal Swedish Academy of Sciences
Reward(s)
10 million SEK
First awarded
1969
Website
Official website
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Nobel Memorial Prize in Economic Sciences
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The 2022 Nobel Memorial Prize in Economic Sciences was divided equally between the American economists Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig "for research on banks and financial crises" on 10 October 2022.[1][2] The award was established in 1968 by an endowment "in perpetuity" from Sweden's central bank, Sveriges Riksbank, to commemorate the bank's 300th anniversary.[3][4] Laureates in the Memorial Prize in Economics are selected by the Royal Swedish Academy of Sciences.[5] The Nobel Committee announced the reason behind their recognition, stating:
"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."
Ben Bernanke's key contributions were his research on the role of bank crises in the Great Depression of the 1930s and his response to the 2007–2008 financial crisis as head of the US Federal Reserve. Douglas Diamond and Philip Dybvig's, on the other hand, was on the development of their Diamond–Dybvig model of bank runs.[6][7]
^Press release: The Prize in Economic Sciences 2022 Archived 12 October 2022 at the Wayback Machine Nobel Foundation
^David J. Lynch (10 October 2022). "Bernanke, two other Americans win Nobel Prize in economics". The Washington Post. Archived from the original on 10 October 2022. Retrieved 10 October 2022.
^"Nobel Prize". Encyclopædia Britannica. 2007. Archived from the original on 29 April 2015. Retrieved 20 August 2022.
^"The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel". Sveriges Riksbank. Archived from the original on 5 March 2013. Retrieved 20 August 2022. Sveriges Riksbank's Prize in Economic Sciences in Memory of Alfred Nobel was established with a donation to the Nobel Foundation in connection with the Riksbank's 300th anniversary in 1968
^"Nominating and awarding" Archived 12 January 2018 at the Wayback Machine, in "Prize in Economic Sciences", Royal Swedish Academy of Sciences. Retrieved 20 August 2022.
^"Former Fed Chair Bernanke Shares Nobel for Research on Banks". U.S. News. 10 October 2022. Retrieved 10 October 2022.
^"Bernanke, Diamond, Dybvig share Nobel prize in economics". Reuters. 10 October 2022. Archived from the original on 10 October 2022. Retrieved 10 October 2022.
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The 2022 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
