Baku, October 10, AZERTAC Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig have been awarded the 2022 Nobel Prize in economic sciences on Monday for their research into banking and financial crises, according to Anadolu Agency.The Royal Swedish Academy of Sciences honored the trio with the 2022 Sveriges Riksbank Prize in Economic Sciences "for research on banks and financial crises," the academy said in a statement."This year’s laureates in the Economic Sciences, Ben Bernanke, Douglas Diamond and Philip Dybvig, have significantly improved our understanding of the role of banks in the economy, particularly during financial crises. An important finding in their research is why avoiding bank collapses is vital," the academy also added.Last year's Nobel Prize in economic sciences was awarded to David Card "for his empirical contributions to labour economics" with one half, and Joshua D. Angrist and Guido W. Imbens "for their methodological contributions to the analysis of causal relationships" with the other half jointly.