By
Associated Press
STOCKHOLM — This year's Nobel Prize in Economics has been awarded to former US Federal Reserve Chairman Ben S. Bernanke and two US economists, Douglas W. Diamond and Philip H. Dybvig, “for their research on banks and financial crises”.
The prize was announced Monday by the Nobel jury at the Royal Swedish Academy of Sciences in Stockholm.
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The committee said their research had shown "why it is vital to prevent bank collapses."
The Nobel prizes are endowed with 10 million Swedish kronor (nearly $900,000) and will be awarded on December 10.
Unlike the other prizes, the economics prize was not established in Alfred Nobel's 1895 will, but by the Swedish central bank in his memory.
The first winner was selected in 1969.
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Last year, half of the award went to David Card for his research on how the minimum wage, immigration and education affect the job market.
The other half was shared by Joshua Angrist and Guido Imbens for proposing how to study questions that do not fit easily into traditional scientific methods.
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The week of Nobel Prize announcements kicked off on October 3 with Swedish scientist Svante Paabo receiving the award in medicine for unlocking the secrets of Neanderthal DNA that provided key insights into our immune system.
On Tuesday, three scientists jointly won the physics prize.
The Frenchman Alain Aspect, the American John F. Clauser and the Austrian Anton Zeilinger showed that tiny particles can maintain a connection with each other even when they are separated, a phenomenon known as quantum entanglement, which can be used for specialized computing and to encrypt information. .
Former Federal Reserve Chairman Ben Bernanke on Capitol Hill in Washington on November 7, 2017.Jacquelyn Martin/AP
The Nobel Prize in Chemistry was awarded on Wednesday to Americans Carolyn R. Bertozzi and K. Barry Sharpless, and Danish scientist Morten Meldal for developing a way to "fit together molecules" that can be used to explore cells, map DNA and design drugs. that can target diseases like cancer more precisely.
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French writer Annie Ernaux won this year's Nobel Prize for Literature on Thursday.
The jury praised her for mixing fiction and autobiography in books that fearlessly exploit her experiences as a working-class woman to explore life in France since the 1940s.
On Friday, the Nobel Peace Prize went to imprisoned Belarusian activist Ales Bialiatski, the Russian group Memorial and the Ukrainian organization Center for Civil Liberties.