James tobin (march 5, 1918 – march 11, 2002) was an american economist, who developed the ideas of keynesian economics, and advocated government intervention to stabilize output and avoid recessions his academic work included pioneering contributions to the study of investment, monetary and fiscal policy and. William d nordhaus: current contact information and listing of economic research of this author provided by repec/ideas. Journal of economics, 92(2), pp 353–367 phelps, es (1991) the effectiveness of macropolicies in a small open-economy dynamic aggrega- tive model, in: wc brainard, wd nordhaus & hw watts (eds) money, macroeconomics, and economic policy: essays in honor of james tobin (cambridge. Debt neutrality, redistribution and consumer heterogeneity: a survey and some extensions, in wc brainard et al, eds, money, macroeconomics and economic policy essays in honor of james tobin, mit press, 1991 for working paper version click here can public spending cuts be inflationary in wh buiter. William d nordhaus, harold w watts, eds,” money, macroeconomics, and economic policy: essays in honor of james tobin cambridge, ma: mit press, 1991, pp 59–78 google scholar anderson, elijah streetwise: race, class, and change in an urban community chicago: university of chicago press, 1990.
There is good discussion in the blogosphere on james tobin's 1963 paper commerical banks as creators of “money” – also mentioned in my previous post at a macro level however, deposits leaving a bank may move to another bank so one may conclude that the banking sector as a whole collectively. 1982 - 1985 cassel professor of economics with special reference to money and banking, london school 1974 - 1975 research assistant to professor james tobin, yale university 1973 - 1974 extensions, in money, macroeconomics and economic policy essays in honor of james tobin, wc. Review of dorian owen, money, wealth and expenditure: integrated modelling of consumption and portfolio behavior, in journal of economic literature, december 1989, 1691-1693 coping with the term structure, in money, macroeconomics, and economic policy: essays in honor of james tobin, william c brainard,. We present a model of the stock market based on the behavior of individual investors simulations exhibit rich phenomena which include cycles, booms, and crashes low dividend yield and more homogeneous market participants are shown to induce crashes.
Selected publications tobin, james a note on the money wage problem quarterly journal of economics 55, 1941: 508-516 tobin, james a dynamic aggregative model in economic progress: private values and public policy ( essays in honor of william fellner), edited by richard nelson and bela balassa, 235-62. A conference in honor of james tobin comments on the previous version of the paper we are also having brieﬂy seen the japanese economy during the 1990's, we now turn to macroeconomic policies we begin with ﬁscal policy fiscal policy fiscal policy in the 1990's was in sharp contrast to that in the 1980's.
C brainard, wm d nordhaus and h w watts, eds, money, macroeconomics, and economic policy: essays in honor of james tobin, cambridge, mass: mit press, 1999 “moral hazard and independent income in a modern intertemporal- equilibrium model of involuntary unemployment and mandatory retirement,” in g. Essays in honor of james tobin ten of the twelve essays in this book appear for the first time they were presented in modigliani's honor at a conference held on martha's vineyard in september rudiger dornbusch is ford international professor of economics and stanley fischer is professor of economics, both at mit.
Janet louise yellen (born august 13, 1946) is an american economist she is the chair of the board of governors of the federal reserve system, previously serving as vice chairwoman from 2010 to 2014 previously, she was president and chief executive officer of the federal reserve bank of san francisco chair of the. Tobin's honors thesis was critical of keynes, but not so critical as to dismiss the general theory entirely indeed region: in an essay on monetary policy in fortune's encyclopedia of economics you ask the question, should policymakers give priority to price stability or to full employment what is your. Dr james tobin, a professor emeritus of economics at yale who was a top adviser in the kennedy administration and received the nobel prize in economics in a macroeconomist studies the way an economic system performs , with particular attention to the vagaries of budgetary and monetary policies.