Former Fed Chair Bernanke shares Nobel

The Nobel panel at the Royal Swedish Academy of Sciences recognized Bernanke, Douglas W. Diamond and Philip Dybvig on Monday for research that shows “why avoiding bank collapses is vital.”

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World News

October 10, 2022 - 3:28 PM

Former Federal Reserve Board Chairman Ben Bernanke (pictured) answers questions at a conference. (Photo by Win McNamee/Getty Images/TNS)

STOCKHOLM (AP) — Former U.S. Federal Reserve Chair Ben Bernanke, who put his academic expertise on the Great Depression to work reviving the American economy after the 2007-2008 financial crisis, won the Nobel Prize in economic sciences along with two other U.S.-based economists for their research into bank failures.

The Nobel panel at the Royal Swedish Academy of Sciences recognized Bernanke, Douglas W. Diamond and Philip Dybvig on Monday for research that shows “why avoiding bank collapses is vital.”

Their findings in the early 1980s laid the foundations for regulating financial markets, the panel said.

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