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Ben Bernanke, former US Federal Reserve chief, wins Nobel Prize
Reuters
Ben Bernanke, who led the US central bank during the 2008 financial crisis, is one of three recipients of this year's Nobel prize in economics.
The Royal Swedish Academy of Sciences said it was recognising the trio for research that had changed our understanding of financial crises.
The work focused on the importance of avoiding runs on banks.
The insights have "improved our ability to avoid both serious crises and expensive bailouts", the academy said.
Mr Bernanke's research showed how bank runs had prolonged the Great Depression in the 1930s.
He later applied some of those lessons during his time at the US Federal Reserve, which he led from 2006-2014.