Claudia Goldin has been Awarded the Nobel Prize in Economics for her Work on the Labor Market Outcomes of Women

The Royal Swedish Academy of Sciences announced on October 9 that Professor Claudia Goldin has been awarded the Nobel Prize in Economics 2023. 

The Nobel Prize in Economic Sciences is awarded to those who have made remarkable contributions to the area of economics. Sweden’s central bank created it in 1968 to commemorate the country’s 300th anniversary. The award is named after Swedish businessman Alfred Nobel. 

The Nobel Foundation administers the prize, and the Nobel Prize Committee awards it. The Royal Swedish Academy of Sciences presents it during the Nobel Prize Ceremony in Stockholm. 

The award is based on the same criteria outlined by Nobel, who asked for “prizes to those who have conferred the greatest benefit on mankind during the preceding year.” 

Ragnar Frisch and Jan Tinbergen were awarded the Nobel Prize in Economics in 1969. Ben Bernanke, Douglas Diamond, and Philip Dybvig were the laureates for 2022. Esther Duflo is the youngest person to be awarded the Nobel Prize in Economics. She was 46 years old when she got the award in 2019. She was also the second woman to receive the award, after Elinor Ostrom in 2009. 

Technically, the award is not a Nobel Prize. However, its winners are revealed with the Nobel Prize winners. 

Professor Claudia Goldin of Harvard University received the Sveriges Riksbank Prize in Economic Sciences in honor of Alfred Nobel for her thorough study of women’s contributions to the labor market.

The Royal Swedish Academy of Sciences said the 2023 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded to Claudia Goldin “for having advanced our understanding of women’s labor market outcomes.”

Goldin is the 55th winner of the award and the third woman to receive it since its inception in 1969. The famous Nobel awards season has come to an end for the year.

Ben Bernanke, Douglas Diamond, and Philip Dybvig were awarded the Nobel Prize in Economic Sciences last year.

Notably, the Nobel Prize in Economics has been awarded to the fewest number of women — only two – Elinor Ostrom (2009) and Esther Duflo (2019).

The Nobel Prize in Economics is the only one that was not listed in Alfred Nobel’s will in 1896. It was funded by a contribution from the Swedish Central Bank, earning it the moniker “false Nobel.”