Claudia Goldin wins 2023 Nobel economics prize for research into women's labour market outcomes

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

The prestigious award is the last of this year's crop of Nobel prizes and is worth 11 million Swedish crowns ($999,137). Claudia Goldin is the Henry Lee Professor of Economics at Harvard University and was the director of the NBER’s Development of the American Economy program from 1989 to 2017.

"This year's Laureate in the Economic Sciences, Claudia Goldin, provided the first comprehensive account of women's earnings and labour market participation through the centuries," the prize-giving body said in a statement.

"Her research reveals the causes of change, as well as the main sources of the remaining gender gap."

The award for economics is the final instalment of this year's crop of Nobels that have seen prizes go to COVID-19 vaccine discoveries, atomic snapshots and "quantum dots" as well as to a Norwegian dramatist and an Iranian activist.

The economics prize is not one of the original prizes for science, literature and peace created in the will of dynamite inventor and businessman Alfred Nobel, but a later addition established and funded by Sweden's central bank in 1968.

The first economics prize was awarded the following year and past winners include a host of influential thinkers and academics such Friedrich August von Hayek, Milton Friedman and, more recently, U.S. economist Paul Krugman.

Last year, a trio of U.S. economists including former Federal Reserve Chair Ben Bernanke won for their research on how regulating banks and propping up failing lenders with public cash can stave off an even deeper economic crisis, like the Great Depression of the 1930s.

With inputs from Reuters