1,721,483 research outputs found
Remembering James Tobin: Stories Mostly from His Students
Full text linkJames Tobin was renowned as an economist of great distinction. Moreover, his students and colleagues witnessed dimensions of his personality and behavior often unknown to others. Up close, Tobin was a memorable figure who made lasting impressions on those he taught and influenced. This article describes Tobin close up, in the words of his students who became professional economists. Rather than focusing on his research, these stories instead present Tobin the teacher, both inside and out of the classroom, Tobin the person, and Tobin the friend and mentor, painting a picture of a remarkable personality. Exchange rates fluctuate very rapidly, in comparison to the prices of goods and labor. An internationally uniform tax on all spot conversions of one currency into another would reduce these fluctuations. Foreign exchange markets focus strongly on the short run, but this tax would reduce these fluctuations by increasing the cost of such transactions. It throws some sand in the wheels of short-term speculation while increasing the relative advantage of longer-term international investment flows.
James Tobin, 1918–2002
No full textProfessor James Tobin, who died on 11 March 2002, was possibly the most eminent of the world’s ‘Keynesian’ economists. Described by Nobel Laureate Paul Samuelson as “the archetype of a late-twentieth century American scholarâ€, Tobin was without doubt one of the most influential economists of his time who inspired a whole generation of students. In this interview, Professor Tobin discusses the progress and development of economics in the second half of the twentieth century.
On Limiting the Domain of Inequality: The Legacy of James Tobin
Full text linkThe Keynesian macroeconomist James Tobin presented an ambitious program for social policy, sketched in the titles of "It Can be Done! Conquering Poverty in the US by 1976" (1967), "On Limiting the Domain of Inequality" (1970), "On Improving the Economic Status of the Negro" (1965), and "Raising the Incomes of the Poor" (1968). Tobin advocated means-tested cash transfers (negative income tax), to reduce poverty without interfering with market determination of relative prices (a position shared with Milton Friedman), paired with "non-market egalitarian distributions of commodities essential to life and citizenship" (education, food stamps, basic housing). The latter position contrasted with Friedman's Chicago school approach. Tobin's message continues to be relevant for reduction of poverty and inequality. Tobin's approach is contrasted with the neo-conservative analysis of the causes of poverty (exemplified by Herrnstein and Murray, but going back to Senior and Chadwick's Poor Law Report of 1834) that has been reflected in "the end of welfare as we know it".Inequality
Letters from E. L. Gould and James Tobin, 1859
No full textTrying to resolve the account of James Tobin in regards to his salary and vouchers
THE ET INTERVIEW: PROFESSOR JAMES TOBIN
No full textProfessor James Tobin is a figure of truly historic significance
in the economics profession. He is one of the major developers of
modern macroeconomic theory. He has contributed fundamental knowledge
to the theory of investment, of consumption, of money and banking, and
of economic growth. His theoretical work made possible the development
of the capital asset pricing model that has been a central paradigm in
modern finance. His work on limited-dependent variable models has
started a field within econometrics.</jats:p
Bruner, Michael - Record of charges for goods and services, Michael Bruner to James Tobin
Full text linkRecord of charges for goods and services, Michael Bruner to James Tobin, 1802-1810https://scholarsjunction.msstate.edu/lantern-hnf/1591/thumbnail.jp
James Tobin and Modern Monetary Theory
Full text linkThis paper examines the relationship of the monetary economics of James Tobin to modern monetary theory, which has diverged in many ways from the directions taken by Tobin and his associates (for example, moving away from multi-asset models of financial market equilibrium and from monetary models of long-run economic growth) but which has also built upon aspects of his work (e.g., the use of simulation and calibration in his work on inter-termporal consumption decisions). Particular attention will be paid to Tobin's unpublished series of three Gaston Eyskens Lectures at Leuven on Neo-Keynesian Monetary Theory: A Restatement and Defense, and the paper draws on my forthcoming volume of Tobin for Palgrave Macmillan's series on Great Thinkers in Economics
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