A US trio on Monday won the Nobel Economics Prize for research on banking's role in the economy, especially on the importance of avoiding collapses during financial crises.
Ben Bernanke, the former head of the US Federal Reserve, together with Douglas Diamond and Philip Dybvig were honoured for having "significantly improved our understanding of the role of banks in the economy, particularly during financial crises, as well as how to regulate financial markets," the jury said.
