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[翻译]Economics Report - Three Americans Win Nobel Economics Prize

来源:慢速英语   时间:2013-10-18 13:30:15

From VOA Learning English, this is the Economics Report.

这里是美国之音慢速英语经济报道。

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.

本周,瑞典皇家科学院将诺贝尔经济学奖授予三位美国人。该科学院赞赏了这三位经济学家在金融市场如何定价上的研究和理解。

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.

尤金·法玛(Eugene Fama)和拉尔斯·彼得·汉森(Lars Peter Hansen)都是芝加哥大学的教授。罗伯特·希勒(Robert Shiller)是耶鲁大学的教授。他们将分享价值120万美元的奖金。

The academy's permanent secretary Staffan Normark offered a short explanation of why the men won the award.

瑞典皇家科学院常任秘书斯塔凡·诺尔马克(Staffan Normark)对这三位科学家因何获奖做了一个简短说明。

"This year's prize in economic sciences is about predictions."

他说,“今年的经济学奖和预测有关。”

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.

预测价格是参与市场的每个人都希望做的事情。特别是金融市场中当投资管理人为其客户投资数百万美元之时。

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.

今年的全部三位获奖者都主要以其在金融市场定价力量上的研究和解释而闻名。他们对人们如何看待和谈论金融市场产生了巨大影响。

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.

但可能令人惊讶的是,法玛和希勒是因为貌似彼此冲突的研究发现而获奖。然而瑞典皇家科学院认为,预测能力的主要理念将这三位获奖者的工作紧密联系在一起。

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.

法玛在20世纪60年代对金融市场的研究导致市场观察家们改变了他们的投资理念。他的观点和“有效市场理论”有关,该理论意味着市场参与者会使用一切可用信息为特定时间的物品制定正确的价格。这也就意味着,预测短期内的价格是不可能的。

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.
然而希勒却发现,在长时间内事实正好相反,预测价格走势是可能的,而且其变动和人类行为有关。

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.

两位科学家的这些发现导致了指数基金的成长。指数基金投资多种不同的股票作为降低风险的手段。希勒先生还帮助创建了标准普尔公司的凯斯-席勒房价指数。该指数对美国各地房价进行跟踪。

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.

汉森开发了研究历史定价信息的方法。他的方法支持了希勒先生的研究发现,并且在金融业的价格预测上极具作用。

The Nobel Prize in economics was not created by Alfred Nobel, but was established in his memory by Sweden's central bank in 1968.

诺贝尔经济学奖并非由阿尔弗雷德·诺贝尔(Alfred Nobel)先生创立,而是瑞典中央银行为了纪念他而成立的。

And that's the Economics Report from VOA Learning English, I'm June Simms.

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