4,139 research outputs found
"Why the Tobin Tax Can Be Stabilizing"
No full textThis paper clarifies why a transaction tax of the type proposed by James Tobin can have a stabilizing influence in financial markets. It argues that such a tax is potentially stabilizing, not because it reduces the "excessive" volume of transactions, but because it can slow the speed with which market traders react to price changes. To the extent that a Tobin tax causes financial market traders to delay their decisions a few "grains of sand in the wheels of international finance" can indeed be stabilizing. Whether that is sufficient, or whether boulders-not just grains-are needed to prevent speculative attacks on currencies, is, however, a different matter.
James Tobin : an appreciation of his contribution to economics.
No full textJim Tobin, who died on March 11, 2002 at the age of 84, was one of giants of economics of the second half of the twentieth century and the greatest macroeconomist of his generation. Tobin’s influence on macroeconomic theory is so pervasive - so much part of our professional ‘acquis’ - that many younger economists often are not even aware that it is his ideas they are elaborating, testing, criticising, refuting or re-inventing. In this Appreciation, I consider Tobin’s scholarly contributions, made over a period of more than 50 years. Tobin received the 1981 Nobel Memorial Prize “for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices”. I consider his contributions to mean-variance portfolio demand and asset pricing theory, especially the Portfolio Separation Theorem; pitfalls in financial model building; portfolio balance and flow of funds models and the ‘credit channel’; the life-cycle model and social security; econometric methodology, including the Tobit estimator and his pioneering work using both time series and cross-sectional data to estimate food demand functions; economic growth; Tobin’s q; the ‘Tobin Tax’ ; the monetary and fiscal policy effectiveness debate, first with Milton Friedman and then with the New Classical Macroeconomics and Real Business Cycle schools; and Tobin’s approach to methodological questions including microfoundations and aggregation.
James Tobin: An Appreciation of his Contribution to Economics
No full textJim Tobin, who died on March 11, 2002 at the age of 84, was one of giants of economics of the second half of the twentieth century and the greatest macroeconomist of his generation. Tobin's influence on macroeconomic theory is so pervasive - so much part of our professional 'acquis' - that many younger economists often are not even aware that it is his ideas they are elaborating, testing, criticising, refuting or re-inventing. In this Appreciation, I consider Tobin's scholarly contributions, made over a period of more than 50 years. Tobin received the 1981 Nobel Memorial Prize for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices'. I consider his contributions to mean-variance portfolio demand and asset pricing theory, especially the Portfolio Separation Theorem; pitfalls in financial model building; portfolio balance and flow of funds models and the 'credit channel'; the life-cycle model and social security; econometric methodology, including the Tobit estimator and his pioneering work using both time series and cross-sectional data to estimate food demand functions; economic growth; Tobin's the 'Tobin Tax'; the monetary and fiscal policy effectiveness debate, first with Milton Friedman and then with the New Classical Macroeconomics and Real Business Cycle schools; and Tobin's approach to methodological questions including microfoundations and aggregation
Shadows of the East; or slight sketches of Scenery, Persons, and cusoms, from observations during a tour in 1853 and 1854 in Egypt, Palestine, Syria, Turkey and Greece. By Catherine Tobin with maps and illustrations. London Longman, Brown, Green, and Lo
No full textPreface: by the authorDedication: by the author to James Lord Bishop of CorkIllustration: 20 (Maps ,Views ,varia ,)Pagination: PP12+256P+16PPVolumes: 1Text Genre:JournalEpilogue: as conclusionIllustration: 20 (χάρτες ,τοπία ,άλλα θέματα ,
World Finance and Economic Stability (J. Tobin) (in Czech)
No full textTobin tax – global finance – economic stability
Set identification and sensitivity analysis with Tobin regressors
No full textWe give semiparametric identification and estimation results for econometric models with a regressor that is endogenous, bound censored, and selected; it is called a Tobin regressor. First, we show that the true parameter value is set-identified and characterize the identification sets. Second, we propose novel estimation and inference methods for this true value. These estimation and inference methods are of independent interest and apply to any problem possessing the sensitivity structure, where the true parameter value is point-identified conditional on some nuisance parameter values that are set-identified. By fixing the nuisance parameter value in some suitable region, we can proceed with regular point and interval estimation. Then we take the union over nuisance parameter values of the point and interval estimates to form the final set estimates and confidence set estimates. The initial point or interval estimates can be frequentist or Bayesian. The final set estimates are set-consistent for the true parameter value, and confidence set estimates have frequentist validity in the sense of covering this value with at least a prespecified probability in large samples. Our procedure may be viewed as a formalization of the sensitivity analysis in the sense of Leamer (1985). We apply our identification, estimation, and inference procedures to study the effects of changes in housing wealth on household consumption. Our set estimates fall in plausible ranges, significantly above low ordinary least squares estimates and below high instrumental variables estimates that do not account for the Tobin regressor structure
Administrative Files - Conferences and Events - Visual Culture and Archives Symposium - April 04, 2013 - Part 19 - Introduction, "From Film to Screen: Images, Editing, and Archives"
No full textJim Tobin (Author, Historian, and Associate Professor of Journalism at Miami University of Ohio) introduces Jay Cassidy and his presentation "From Film to Screen: Images, Editing, and Archives"http://deepblue.lib.umich.edu/bitstream/2027.42/97396/1/040413_19_Tobin.mp
Margaret Breen giving a talk on Edward Irenaeus Prime-Stevenson
No full textPhoto of Margaret Breen (University of Connecticut) discussing author Edward Irenaeus Prime-Stevenson. Breen gave a talk titled “Queer Translations: Prime-Stevenson’s Imre (1906) and The Intersexes (1908) and the Emergence of Homosexual Identity”. This talk was from the event German Discovery of Sex: Medicine, Activism, Literature which took place on April 16, 2011 as part of the Henry J. Leir Chair Programming for the 2010-2011 season. Robert Tobin was the Henry J. Leir Chair from 2008 up until his passing in 2022.
These are Robert Tobin\u27s photos, originally hosted on his WordPress site provided by Clark University.https://commons.clarku.edu/tobindiscphotos/1009/thumbnail.jp
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