Former Fed chair Bernanke shares Nobel economics for research on banks

With their research in the early 1980s, the laureates laid the foundations for regulating financial markets and dealing with financial crises, the panel said

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 the fallout from bank failures.

Bernanke was recognised Monday along with Douglas W. Diamond and Philip H. Dybvig.

The Nobel panel at the Royal Swedish Academy of Sciences in Stockholm said the trio's research had shown “why avoiding bank collapses is vital.” With their findings in the early 1980s, the laureates laid the foundations for regulating