James Tobin was America's most distinguished Keynesian economist, whose path-breaking theoretical work has demonstrated that Keynes' original theories can be adapted to deal with modern macroeconomic problems. This volume presents 32 of those papers which, in Professor Tobin's opinion, have made a significant contribution to the developments of Keynesian economics in the 20th century.
James Tobin was America's most distinguished Keynesian economist, whose path-breaking theoretical work has demonstrated that Keynes' original theories can be adapted to deal with modern macroeconomic problems. This volume presents 32 of those papers which, in Professor Tobin's opinion, have made a significant contribution to the developments of Keynesian economics in the 20th century.
Contents:
Acknowledgements
Preface Mark Blaug
1. Kenneth J. Arrow (1962), ‘The Economic Implications of Learning
by Doing’
2. Robert J. Barro (1974), ‘Are Government Bonds Net Wealth?’
3. William J. Baumol (1952), ‘The Transactions Demand for Cash: An
Inventory Theoretic Approach’
4. William Brainard (1967), ‘Uncertainty and the Effectiveness of
Policy’
5. David Cass and Menahem E. Yaari (1966), ‘A Re-examination of the
Pure Consumption Loans Model’
6. Dudley Dillard (1988), ‘The Barter Illusion in Classical and
Neoclassical Economics’
7. Milton Friedman (1968), ‘The Role of Monetary Policy’
8. J.R. Hicks (1935), ‘A Suggestion for Simplifying the Theory of
Money’
9. J.R. Hicks (1937), ‘Mr Keynes and the "Classics"; A Suggested
Interpretation’
10. J. Hirshleifer (1966), ‘Investment Decision Under Uncertainty:
Applications of the State-Preference Approach’
11. Nicholas Kaldor (1940), ‘A Model of the Trade Cycle’
12. Tjalling C. Koopmans (1965), ‘On the Concept of Optimal
Economic Growth’
13. John Lintner (1965), ‘The Valuation of Risk Assets and the
Selection of Risky Investments in Stock Portfolios and Capital
Budgets’
14. Richard G. Lipsey (1960), ‘The Relation between Unemployment
and the Rate of Change of Money Wage Rates in the United Kingdom,
1862–1957: A Further Analysis’
15. Robert E. Lucas, Jr. (1976), ‘Econometric Policy Evaluation: A
Critique’
16. Harry Markowitz (1952), ‘Portfolio Selection’
17. Lloyd A. Metzler (1951), ‘Wealth, Saving, and the Rate of
Interest’
18. Merton H. Miller and Daniel Orr (1966), ‘A Model of the Demand
for Money by Firms’
19. Franco Modigliani and Merton H. Miller (1958), ‘The Cost of
Capital, Corporation Finance and the Theory of Investment’
20. Franco Modigliani (1964), ‘Long-run Implications of Alternative
Fiscal Policies and the Burden of the National Debt’
21. R.A. Mundell (1963), ‘Capital Mobility and Stabilization Policy
under Fixed and Flexible Exchange Rates’
22. Robert A. Mundell (1962), ‘The Appropriate Use of Monetary and
Fiscal Policy for Internal and External Stability’
23. Arthur M. Okun (1980),
‘Rational-Expectations-with-Misperceptions as a Theory of the
Business Cycle’
24. Don Patinkin (1948), ‘Price Flexibility and Full
Employment’
25. Edmund Phelps (1961), ‘The Golden Rule of Accumulation: A Fable
for Growthmen’
26. Edmund S. Phelps (1972), ‘Efficiency and Distributional Aspects
of Anticipated Inflation’
27. A.W. Phillips (1958), ‘The Relation between Unemployment and
the Rate of Change of Money Wage Rates in the United Kingdom,
1861–1957’
28. A.C. Pigou (1947), ‘Economic Progress in a Stable
Environment’
29. William Poole (1970), ‘Optimal Choice of Monetary Policy
Instruments in a Simple Stochastic Macro Model’
30. Paul A. Samuelson (1958), ‘An Exact Consumption–Loan Model of
Interest With or Without the Social Contrivance of Money’
31. Robert M. Solow (1962), ‘Technical Progress, Capital Formation,
and Economic Growth’
32. John B. Taylor (1980), ‘Aggregate Dynamics and Staggered
Contracts’
Name Index
Edited by the late James Tobin, formerly Sterling Professor Emeritus of Economics, Yale University, US and Nobel Laureate in Economics 1981
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