Ben Bernanke, Douglas Diamond and Philip Dybvig win the Nobel Prize in Economics for their research on financial crises

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The

has gone to economists

(former Fed chairman),

and

for investigating "banks and financial crises", according to the Swedish Royal Academy of Sciences.

This trio of economists "has significantly improved our understanding of the role of banks in our economy, especially during financial crises, and the way financial markets are regulated," the Nobel jury announced.

The Nobel Prize in Economics is not part of Alfred Nobel's legacy, since it was established in 1968 by the Riksbanken, the Swedish central bank, coinciding with the entity's 300th anniversary, and was awarded for the first time in 1969, honoring the Norwegian Ragnar Frisch and Dutchman Jan Tinbergen.

The amount of the full prize amounts to a total of

(914,000 euros).

The award is the last of the Nobel Prizes announced, after communicating last week the winners in the categories of Medicine, Physics, Chemistry, Literature and Peace and will be delivered, like the others, on December 10

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