Essays in Economics: National and InternationalThis fourth volume in the series of Nobel laureate James Tobin's classic papers represents his work since 1980. This fourth volume in the series of Nobel laureate James Tobin's classic papers represents his work since 1980. Both national and international views are intermingled among the 36 chapters on macroeconomics and fiscal policy, savings, stabilization policy, international coordination of macroeconomic policy, monetary policy, and exchange rates. Several tributes to colleagues--including Walter Heller and Seymour Harris--round out the collection. |
Contents
Money and Finance in the Macroeconomic Process | 23 |
A Model of U S Financial and Nonfinancial Economic | 67 |
Financial Intermediaries | 115 |
Money | 139 |
Liquidity Preference Separation and Asset Pricing | 165 |
An | 171 |
Macroeconomics under Debate | 203 |
On the Welfare Macroeconomics of Government | 237 |
On the Internationalization of Portfolios | 539 |
A Simple Analytical Framework | 583 |
Some Skeptical Observations | 601 |
Are There Reliable Adjustment Mechanisms? | 617 |
Agenda for International Coordination of Macro economic Policies | 633 |
International Currency Regimes Capital Mobility and Macroeconomic Policy | 643 |
ECONOMICS AND ECONOMISTS | 659 |
A Revolution Remembered | 661 |
The Macroeconomics of Government Finance | 253 |
Mandatory Retirement Saving and Capital Formation | 335 |
Inventories Investment Inflation and Taxes | 369 |
The Natural Rate as New Classical Macroeconomics | 385 |
MACROECONOMIC POLICY | 397 |
On the Theory of Macroeconomic Policy | 399 |
Stabilization Policy Ten Years After | 417 |
Rules Targets and Shocks | 471 |
The Monetary and Fiscal Policy Mix | 487 |
LongRun Implications | 507 |
Financial Structure and Monetary Rules | 519 |
INTERNATIONAL ECONOMICS | 537 |
J B Clark and Fisher | 673 |
Irving Fisher | 699 |
A Neoclassical Kaldor Robinson Exercise | 721 |
Arthur M Okun | 737 |
Robert Triffin | 743 |
Walter W Heller | 747 |
Maurice Allaiss Priority with William J Baumol | 757 |
William S Vickrey | 763 |
Macroeconomics and Fiscal Policy | 769 |
Seymour Harris | 787 |
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Common terms and phrases
adjustment agents aggregate demand American Economic Review assumed balance base money bonds budget capital stock central bank changes classical commodity consumption cost countries currency current account debt neutrality deficit deposits depreciation determined dollar economists effects endogenous equations equilibrium equity exchange rates exogenous expected Federal Reserve fiat money financial intermediaries fiscal policy Fisher foreign full employment function future growth holdings households income increase inflation inflation rate institutions investment Irving Fisher Journal Keynes Keynes's Keynesian labor long-run macroeconomic marginal productivity markets ment Monetarism monetarist monetary policy NAIRU neoclassical nomic nominal interest rates open market operations optimal output parameters path percent period Phillips curve portfolio price level quantity rate of return rational expectations real interest rates real rate relative risk Samuelson saving sector shocks short-run simulations stability substitutes theory tion Tobin trade transactions unemployment United utility variables wages and prices wealth zero