Stockholm, Oct 10 (BNA): This year’s Nobel Prize in Economic Sciences has been awarded to three US-based economists “for their research on banking and financial crises”.
The Nobel Committee of the Swedish Academy of Sciences in Stockholm announced the Ben S. Bernanke, Douglas W. Diamond and Philip H. Devwig on Monday.
The Nobel Prizes carry a cash prize of 10 million Swedish kronor (nearly $900,000) and will be awarded on December 10.
Unlike other prizes, the Economics Prize was not created by the will of Alfred Nobel in 1895 but by the Swedish Central Bank in his memory. The first winner was chosen in 1969.
SM