【Native Speaker每日综合训练—26系列】【26-18】经管

lexiyanou

[T2]1:30
Three academics who win Nobel price are all right with their conclusions in economics.
[T3]1:15
S's pioneering paper looked at the relationship between the prices of shares and their intrinsic value.
[T4]1:21
Inventors should pay attention to S's work.
[T5]2:20
The opposite view to argue that MF misdiagnosed the Great Depression.
[T6]2:30
K has concentrated on fiscal policy but i think that the focus should be on treating the lessons of the Depression and the need for a more aggressive monetary policy.
[T7]5:35
MI: Even the Nobel winners in economics disagree with one another about how markets operate,investors benefit from the work of all three men.
Structure:
1)F-conclusion: the efficiency of markets over short periods is  unpredictable
2)S-conclusion: share prices are in fact far more volatile than dividends.
3)F-short-run prices were unpredictable;S-over periods of several years assets could move in foreseeable ways;but F doesn't agree S entirely.
4)S- see a role played by individual and crowd psychology; other economics: reject the behavioral approach
5)H-developed a very influential statistical technique known as “generalised method of moments estimation”.

bernice_ml

T1
Being not like us is strangeness.
Strangeness brings us sameness and find people I need right now.
The problems is how much Strangeness we get through a fair share of strangeness.
It requires organizations and technology to enable us to seek strangeness safely.

T2 3:07
Assets prices matters the boom and burst of the economy.
F holds that information affects price, making price unpredictable. Thus there exists index tracking industry.
T3 2:50
S sees asset prices volatile, compared with assets intrinsic value. The prices will go to the fair price into the intrinsic value in the long run.
But asset are no like traditional consumer goods. the demand of assets goes up with the increase of its price. So there came the bubble.
T4 2:51
Greenspan from Central Bank considers it impossible to prognosticate or spot the bubbles being formed.
A high interest rate and the ignorance intervene by the government damages the economy.
Shiller's opinion was ignored, bringing investors more risk.
T5 4:43
Monetary base increases by 300% with 0.25% interest rate fed put on reserve.
It is a question whether Fed could bring or save Depression.  Does monetary shocks lead to depression.
The fact that contradictory fed policy revive depression in Roosevelt time.
T6 3:37
The monetary policy doesn't work.
The author hope the Fed make promise of a higher inflation to make it work when the liquidly trap remains the same.
Fed has no responsibilities for the Great Contraction and it bring a more aggressive monetary policy.
T7 9:08
The Nobel Prize reveals that we have done little and there is a lot more to be done.
F's efficient capital market applies to short term. S's proposition about the relationship between price and dividend ratio apples to long term.
The method of moment’s estimation gives ideas about macro financial modelling to estimate risks.

jokerking

默默地补作业~
speed: 1.43  1.36  1.34  2.27 2.17
obstacle:  6.40

WindyMM

TIME2: 01:45
Three economists share the Noble Prize this year. Mr. Fama has the great insight that the effect of investment in asset prices cannot be predicted in short term.

TIME3: 01:33
Mr. Shiller thinks that the asset are not like consumer goods, when asset prices rise, the needs also increase.

TIME4: 01:38
The contribution of Mr. Shiller and Mr. Fama. In asset prices cannot be ignored.

TIME5: 02:23
Fed did not prevent the Great Depression through monetary policy and the private investment stimulated the economic increase.

TIME6: 02:11
Although Fed wanted to keep the monetary stability, the policy allowed the stimulus to raise the inflation. The bottleneck has been remained for half decade, and Fed should make more aggressive monetary policy to prevent the Depression.

REPHRASE 7: 06:30
The Nobel Prize had been awarded to three economists and two of three with contrary conclusion about asset prices.
Mr. Fama thought the asset prices cannot be predicted in short term due to the complex information movement.
However, Mr. Shiller thought the asset prices can be predicted when some knowledge of the price trend are given.
Actually, Mr. Fama did not disagree with Shiller entirely because Mr. Fama thought after several years, the price movement can be foreseeable.
Mr. Henson, the third economist shared the Prize, developed the statistic method of movement which can help to predict the movement through modeling.
All three economists contribute more in theoretical work, and there are lots of things to do in the future.

nancyren

Time2:2'17
Time3:1'51
Time4:1'36
Time5:3'15
Time6:2'13

Obstacle:6'52

allan.zhu

1'32 [174WPM] Do not know...
1'19 [178WPM] The difference of price and demand of financial assests from normal goods.
1'32 [149WPM] Do not know...
1'51 [185WPM] Errrr...
1'46 [188WPM] Oh...no
5'14 [180WPM] Forgive me....

wensd1111

1 A 01:32
2 A 01:57
3 A 01:45
4 A 02:12
5 A 02:07
6 A 06:19
nobel prize was actually settled by swiss central bank. the economy price award 3 economists.
1, short term prediction of asset price is impossible,
2,shill's model about stock price could foresee long term stock price, and he predict two crisis exactly, but everyone ignore his wards
3, individual and group dicision affect the economy model
4,a liitle progress, many work still under gone there