{O/C} Former Federal Reserve Chair Ben Bernanke is among three economists winning the Nobel Prize in economic sciences.
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Bernanke was credited alongside Douglas W. Diamond and Philip H. Dybvig with researching into "Why avoiding bank collapses is vital."
With their findings in the early 1980s the laureates laid the foundations for regulating financial markets.
68-year-old Bernanke examined the Great Depression of the 1930s, revealing the danger of bank runs and how bank collapses culminated with sprawling economic ruins.
As the former Fed chair, he's best known for rescuing an ailing banking system and dodging another depression when the most painful and longest recession since the 1930s struck.
The three awardees will be sharing a cash award of 10 millino Swedish kronor.
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