New Delhi: Professor at Harvard University Claudia Goldin has been awarded the 2023 Nobel Prize in Economics, “for having advanced our understanding of women’s labour market outcomes.”

"By trawling through the archives and compiling and correcting historical data, this year’s economic sciences laureate Claudia Goldin has been able to present new and often surprising facts. She has also given us a deeper understanding of the factors that affect women’s opportunities in the labour market and how much their work has been in demand," the Swedish Academy statement said.

"The fact that women’s choices have often been, and remain, limited by marriage and responsibility for the home and family is at the heart of her analyses and explanatory models. Goldin’s studies have also taught us that change takes time, because choices that affect entire careers are based on expectations that may later prove to be false," it continued. "Her insights reach far outside the borders of the US and similar patterns have been observed in many other countries. Her research brings us a better understanding of the labour markets of yesterday, today and tomorrow."

Last year's winners were former Federal Reserve Chair Ben Bernanke, Douglas W. Diamond and Philip Dybvig for their research into bank failures.

The economics award was created in 1968 by Sweden's central bank and is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel.

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