The 2022 award goes to a trio of US-based economists including former Fed chair Ben Bernanke for research on bank runs and financial crises
The group was recognized by the Royal Swedish Academy of Sciences for their work in the early 1980s, which the institute said provided the foundation for our modern understanding of why banks are needed, their chief vulnerabilities and how their collapse can fuel financial
meltdowns. Bernanke, who led the US central bank during the 2008 financial crisis, received the award for his research on the Great Depression. His work showed that bank runs were a decisive reason the crisis became so severe and entrenched. — This is a developing story and will be updated.
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