(单词翻译:单击)
听力文本
From VOA Learning English, this is the Economics Report.
This week, the Royal Swedish Academy of Sciences awarded the Nobel Prize in economics to three Americans. The academy recognises the three men for their work in the study and understanding of how things are priced in financial markets.
Eugene Fama and Lars Peter Hansen are both professors at the University of Chicago. Robert Shiller is a professor at Yale University. They will share the prize worth about 1.2 million dollars.
The academy's permanent secretary Staffan Normark offered a short explanation of why the men won the award.
"This year's prize in economic sciences is about predictions."
Predicting prices is something everyone involved in markets wants to do. This is especially true for financial markets when money managers invest millions of dollars for their clients and customers.
All three of this year's prize winners are mainly known for their research and explanations of pricing forces in financial markets. They have had a big influence on the way people look at and talk about financial markets.
But what might be surprising is that Eugene Fama and Robert Shiller receive the prize for findings that appear to oppose one another. The Swedish Academy however found that the underline idea of predict ability tied the work of all three winners together closely.
Eugene Fama's research on financial markets in the 1960s led market watchers to change their ideas about investing. His ideas are linked to the theory that markets are efficient, that means market actors taking all available information to create the correct price for things at any given time. This also means that over short periods of time, it is not possible to predict prices.
Robert Shiller found however that over long periods, the opposite is true. It is possible to predict the movement of prices and that its changes are linked to human behaviour.
The findings of both economists have led to the growth of index funds. Index funds investing many different securities as a way to reduce risk. Mr Shiller also helped to create the Standard & Poor's Case-Shiller home prices index. That index follows home prices across the United States.
Lars Peter Hansen developed the method for studying historical pricing information. His methods support Mr Shiller's findings and has an influenced efforts to predict prices in the financial industry.
The Nobel Prize in economics was not created by Alfred Nobel, but was established in his memory by Sweden's central bank in 1968.
And that's the Economics Report from VOA Learning English, I'm June Simms.
VOA英文文本来自51VOA,译文属可可原创,仅供学习交流使用,未经许可请勿转载
。词汇学习
1.award vt. 授予,奖给
She was awarded the prize for both films...
她的两部电影双双获奖 。
2.recognise vt. 承认…有效[属实];认可
One can recognise a man as an Emperor or as a grocer.
人们可以承认某人是一个皇帝,或是一个杂货商 。
3.explanation n. 说明,解释;辩解
Your explanation is as clear as mud.
你的解释一点都不清晰 。
4.available adj. 可用的;有空的
Doctors have an armoury of drugs available.
医生都备有各种各样的药物 。
5.establish vt. 建立,创建
内容解析
1.They have had a big influence on the way people look at and talk about financial markets.
have influence on有影响
2.But what might be surprising is that Eugene Fama and Robert Shiller receive the prize for findings that appear to oppose one another.
appear to似乎,好像
The parallel lines appear to diverge.
这些平行线像是岔开了 。
参考译文
美国之音慢速学英语节目,这里是经济报道 。
本周,瑞典皇家科学院将诺贝尔经济学奖颁发给三名美国人
。该科学院认可了这三人在资产市场定价方面的研究和理解 。尤金·法马(Eugene Fama),彼得·汉森(Peter Hansen)是芝加哥大学的教授
。罗伯特·希勒(RobertShiller)是耶鲁大学的教授 。他们将分享价值大约120万美元的奖项 。瑞典皇家科学院常任秘书诺尔马克(Staffan Normark)简短地解释了颁奖给这三位教授的原因
。“今年的经济学奖是关于预测方面的
。”预测价格是市场中每个人都想做到的
。在资产市场,金钱经理人为客户投资数百万美元时更是如此 。今年诺贝尔经济学奖的三位得主都以对金融市场定价的研究和解释而著称
。他们在人们对金融市场的看法方面有很大的影响力 。但是令人惊讶的人,尤金·法马(Eugene Fama)和罗伯特·希勒(Robert Shiller)同时获奖,他们的发现却似乎互相矛盾
。然而,瑞典皇家科学院却发现,关于预测能力的理念将三位获奖者的发现紧密地联系起来 。尤金·法马(Eugene Fama)对六十年代金融市场的研究导致市场观察者改变了投资理念
。他的理念与市场是高效的理论有关,这意味着市场参与者根据了解到的所有信息,在任何特定的时间制定出正确的价格 。这还意味着短期内,人们不可能预测价格 。然而,罗伯特·希勒(Robert Shiller)却发现,长期内情况则相反
。预测价格走向是可能的,其变化与人类行为有关 。这两位经济学家的发现都导致指数基金的增长
。指数基金投资许多不同的证券以减少风险 。希勒还帮助创造了标准普尔凯斯-希勒房价指数 。该指数反映美国各地的房产价格 。彼得·汉森(Peter Hansen)发明了研究历史价格信息的方法
。他的方法支持了希勒的发现,对于金融行业的价格预测非常有影响力 。诺贝尔经济学奖并不是由阿尔弗雷德·诺贝尔(Alfred Nobel)创办的,而是瑞典中央银行为了纪念他而在1968年设立的
。以上就是美国之音慢速学英语经济报道,我是June Simms
。