Nobel Prize in Economics: Ben Bernanke among trio awarded for work on financial crises

A trio including Ben Bernanke, former Chair of the Federal Reserve of the United States, has been awarded the Nobel Prize in economics for their research on banks and financial crises.

Mr Bernanke, now at the Brookings Institute in Washington, won the prize alongside Douglas Diamond, an economist at the University of Chicago, and Philip Dybvig, an economist at Washington University in St. Louis.

"The laureates’ insights have improved our ability to avoid both serious crises and expensive bailouts,” said Tore Ellingsen, Chair of the Committee for the Prize in Economic Sciences.

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