James Tobin
James Tobin se narodil 5. března 1918 v Champaign, Illinois. Otec byl novinář, matka byla sociální pracovnicí. Oženil se v roce 1946 s Elizabeth Fay Ringovou, se kterou vychoval čtyři děti. Zemřel 11. března 2002 v New Haven ve státě Connecticut.
Po absolvování několika stupňů středních škol složil úspěšně přijímací zkoušky na Harvardskou univerzitu. V oblasti ekonomie prožíval Harvard, středisko intelektuálního kvasu oné doby, svůj zlatý věk. Působili zde profesoři světového jména, mnozí spolužáci J. Tobina se později stali vedoucími osobnostmi ekonomické vědy. Po krátkém působení ve Washingtonu (Úřad pro omezování civilní spotřeby kovů) a po aktivní činnosti v námořnictvu USA v průběhu II. světové války se J. Tobin znovu vrátil na Harvard, kde v letech 1946 – 47 dokončil doktorát. Jeho doktorská disertace byla orientována na teoretickou a empirickou analýzu spotřební funkce, jež se stala předmětem jeho dlouhodobého zájmu. V roce 1947 byl zvolen členem společnosti Society of Fellows, čímž získal tři roky svobody ke studiu, výzkumu a psaní. V letech 1949 – 50 též spolupracoval s R. Stonem na katedře aplikované ekonomie v Cambridgi. Od roku 1950 působil na katedře ekonometrie Yalské univerzity, k jejíž prestiži přispěl i příchod Cowlesovy nadace v čele s T. Koopmansem a J. Marschakem v roce 1955.
Podíl J. Tobina na veřejném životě představovalo hlavně členství v Radě ekonomických poradců prezidenta Kennedyho (1961 – 62). Jejím aktivním konzultantem byl i později po návratu na Yale.
Velice významnou oblastí Tobinova zájmu jsou peníze a finance. Podle J. Tobina je velkou chybou ekonomů (i hospodářské politiky) ostře odlišovat peníze od všech ostatních finančních, ale i reálných aktiv. Je třeba vycházet z toho, že existuje víceméně spojité spektrum aktiv různého typu a že tato aktiva mohou být – a v realitě také jsou – ekonomickými subjekty volně zaměňována jedno za druhé podle výnosů těchto aktiv a podle rizika, které je s jejich držbou spojeno. Aby mohl strukturu držby aktiv a zákonitosti jejich substituce vysvětlit, formuloval J. Tobin tzv. teorii volby portfolia, podle níž se investoři snaží volit takovou strukturu aktiv, aby byly maximalizovány výnosy, ale aby bylo současně co nejnižší riziko, které z různých aktiv vyplývá.
Od prvního článku v r. 1951 byl J. Tobin v popředí teoretického výzkumu i empirické analýzy spotřebních funkcí (nebo jejich protipólu, funkcí úspor). Publikoval řadu teoretických i empirických prací, významný je zejména jeho text v „Mezinárodní encyklopedii společenských věd“ z r. 1968 s názvem „Spotřební funkce“. Navázal zde na Keynesovu teorii absolutního důchodu, podle níž je běžná spotřeba funkcí běžného důchodu, i na Duesenberryho teorii relativního důchodu, podle které vedle běžného důchodu působí na běžnou spotřebu i nejvýše dosažený důchod v minulosti. V r. 1951 vystoupil se zařazením likvidních aktiv mezi argumenty spotřební funkce. Z uvedeného je patrná kombinace tokových a stavových veličin, což znamená úsilí o propojení krátkodobých a dlouhodobých vlivů.
V r. 1958 se J. Tobin pokusil jako první o interpretaci i výklad Fiedmanovy koncepce permanentního důchodu, která vychází z myšlenky odlišení jisté normální, proto „permanentní“, složky běžného důchodu od složky přechodné. Tento pohled na spotřebu je v souladu s celkovým Tobinovým přístupem.
Pro ekonomický svět je J. Tobin zakladatelem a čelním představitelem tzv. Yalské školy teorie peněz a teorie volby portfolia.
Knihy
TOBIN, J. Consumer Survey Statistics. A Report of Consultant Committee on Consumer Survey Statistics, Board of Governors of the Federal Reserve System, July 1955.
TOBIN, J., HARRIS, S. E., KAYSEN, C., SUTTON, F. X. The American Business Creed. Cambridge: Harvard University Press, 1956.
TOBIN, J. Alternative Forecasts of Saving 1947-56. Cowles Foundation Discussion Paper no. 33, 1957.
TOBIN, J., GUTHRIE, H. W. Inter-Generation Transfers of Wealth and the Theory of Saving. Yale University, 1960.
TOBIN, J. Economic Planning Machinery in the United States. Prepared for Princeton-Brookings Roundtable on Business-Government Relationships, J.J. Corson, meeting at Brookings, April 28 1965.
TOBIN, J. National Economic Policy (Essays). New Haven: Yale University Press, May 1966.
TOBIN, J. The Intellectual Revolution in U.S. Economic Policy-Making. Noel Buxton Lecture, University of Essex, Longmans, Green & Co., Ltd., London, England, January 1966.
Risk Aversion and Portfolio Choice. J. Tobin and D. Hester, eds., Cowles Foundation Monograph no. 19, New York: J. Wiley & Sons, 1967.
Studies of Portfolio Behavior. J. Tobin and D. Hester, eds., Cowles Foundation Monograph no. 20, New York: J. Wiley & Sons, 1967.
Financial Markets and Economic Activity. J. Tobin and D. Hester, eds., Yale University Press, 1967.
TOBIN, J. Essays in Economics, Macroeconomics, vol. I. Markham Pub. Co., 1971. North-Holland, 1974.
TOBIN, J., DOLDE, W. Wealth, Liquidity and Consumption. In Consumer Spending and Monetary Policy: The Linkages, Federal Reserve Bank of Boston, Conference Series no. 5, Nantucket, June 1971.
TOBIN, J. The New Economics One Decade Older. Princeton University Press, 1974.
TOBIN, J. Essays in Economics: Consumption and Econometrics. The MIT Press, 1988.
TOBIN, J. Review of: William E. Simon, A Time for Truth. McGraw-Hill Book Co., 1978. New York Times Book Review, June 11 1978.
TOBIN, J. Asset Accumulation and Economic Activity. (Reflections on Contemporary Macroeconomic Theory), Univerity of Chicago Press, 1980.
TOBIN, J. Essays in Economics: Theory and Policy. vol. III, MIT Press, 1982.
Články
TOBIN, J. A Note on the Money Wage Problem. Quarterly Journal of Economics, May 1941, p. 508-516.
TOBIN, J. The Role of Statistical Forecasts in Planning for Defense. In C.J. Friedrich and E.S. Mason, eds., Public Policy, III, 1942, p. 197-223.
TOBIN, J. Linquidity Preference and Monetary Policy. Review of Economics and Statistics, May 1947, 124-131, and „Rejoinder“, Ibid., Nov. 1948, 314-317. Reprinted in American Economic Association Readings In Fiscal Policy, A. Smithies and K. Butters, eds., 1955, p. 233-247.
TOBIN, J. Money Wage Rates and Employment. In S.E. Harris, ed., The New Economics, 1947, p. 572-590; also in: Reatings in Macroeconomics, M.G. Mueller, ed., Holt, Rinehart & Winston, Inc., 1966, p. 215-225; Macroeconomic Theory, Williams, H.R. and J.D. Huffnagle, eds., Appleton-Century-Crofts, N.Y., 1969, p. 366-379.
TOBIN, J. The Fallacies of Lord Keynes ‚General Theory‘: Comment. Quarterly Journal of Economics, Nov. 1948, p. 763-770.
TOBIN, J. Taxes, Saving, and Inflation. American Economic Review, Dec. 1949, p. 1223-1232.
TOBIN, J. A Statistical Demand Function for Food in the U.S.A.. Journal of the Royal Statistical Society, Series A, Part II, 1950, p. 113-141.
TOBIN, J. Relative Income, Absolute Income, and Saving, in Money, Trade, and Economic Growth (in honor of John H. Williams). Macmillan Co., 1951, p. 135-156.
TOBIN, J. Monetary Restriction and Direct Controls. Review of Economics and Statistics, August 1951, p. 196-198; Also in: National Economic Policy, Essays, New Haven: Yale University Press, May 1966.
TOBIN, J., HOUTHAKKER, H. S. Estimates of the Free Demand for Rationed Foodstuffs. Economic Journal, 1952, p. 103-118.
TOBIN, J., RIECKEN, H. W. Ten Years Out-Statistically. In Harvard Class of 1939, Tenth Anniversary Report, 1949.
TOBIN, J. Asset Holdings and Spending Decisions. American Economic Review (Papers and Proceedings), May 1952, p. 109-123.
TOBIN, J. A Survey of the Theory of Rationing. Econometrica, October 1952, p. 521-553.
TOBIN, J. Monetary Policy and the Management of the Public Debt: The Patman Inquiry. Review of Economics and Statistics, 1953, p. 118-127.
TOBIN, J. Savings, Capital Gains, and Asset Values. In Savings in the American Economy, A Symposium, edited by W.W. Heller, F.M. Bodd, and C.L. Nelson, 1953, p. 220-223.
TOBIN, J. Introduction to A Panel on the Technical Problems of Measuring Preferences. Consumer Behavior, Lincoln H. Clark, ed., New York, 1954, p. 88-90.
TOBIN, J. A Dynamic Aggregative Model. Journal of Political Economy, April 1955, LXIII, 103-115; also in: Monetary Theory and Policy, Richard S. Thorn, ed., Random House, 1966, p. 205-221; Macroeconomic Theory, Williams, H.F., and J.D. Huffnagle, eds., Appleton-Century-Crofts, 1969, p. 487-503.
TOBIN, J. Comment on Consumer Anticipations: Their Use in Forecasting Consumer Behavior by J.B. Lansing and S.B. Withey. Short-Term Economic Forecasting: Studies in Income and Wealth, Princeton, 1955, p. 444-449.
TOBIN, J. The Application of Multivariate Probit Analysis to Economic Data. Cowles Foundation Discussion Paper no. 1, 1955. Also in Essays in Economics, vol. 2, Multiple Probit Regression of Dichotomous Economic Variables, Amsterdam: North-Holland, 1975, Chapter 43.
TOBIN, J., HALL, C. A., Jr. Income Taxation, Output, and Prices. Economia Internazionale. In three Parts: August 1955, p. 522-542; November 1955, p. 742-761; February 1956, p. 1-8.
TOBIN, J. The Interdependence Between an Effective Stabilization Policy and the Attitudes of Labor. The Employment Act, Past and Future, Gerhard Colm, ed., Washington: National Planning Association, 1956; also in: National Economic Policy, Essays, New Haven: Yale University Press, May 1966.
TOBIN, J. Consumer Debt and Spending: Some Evidence from Analysis of a Survey. Consumer Installment Credit, Washington: Board of Governors of the Federal Reserve System, 1957, Part II, Conference on Regulation, National Bureau of Economic Research, vol. 1, p. 521-545; also in: Cowles Monograph no. 20, Studies of Portfolio Behavior, Discussion of Milton Friedman’s A Theory of the Consumption Function, in Consumer Behavior, Lincoln H. Clark, ed., Harper & Bros., N.Y., 1958, p. 447-454.
TOBIN, J. Estimation of Relationships for Limited Dependent Variables. Econometrica, January 1958, p. 24-36.
TOBIN, J. Comment on Measuring Comparative Purchasing Power. Problems in the International Comparison of Economic Accounts, Studies in Income and Wealth, vol. 20, National Bureau of Economic Research, Princeton, 1957, p. 343-347.
TOBIN, J. Comment, The Measurement and Behavior of Unemployment. National Bureau of Economic Research, Princeton, 1957, p. 596-600.
TOBIN, J. The Interest-Elasticity of Transactions Demand for Cash. Review of Economics and Statistics, August 1956, p. 241-247.
TOBIN, J. Liquidity Preference as Behavior Towards Risk. Review of Economic Studies, vol. XXV, no. 67, 1958; also in: Readings in Macroeconomics, M.G. Mueller, ed., Holt, Rinehart & Winston, Inc., 1966, p. 65-86; in Monetary Theory and Policy, Richard S. Thorn, ed., Random House, 1966, p. 172-191; in Macroeconomic Theory, Williams, H.R. and J.D. Huffnagle, eds., Appleton-Century-Crofts, N.Y., 1969, p. 299-324; also in: Cowles Monograph no. 19, Risk Aversion and Portfolio Choice, J.Tobin and D. Hester, eds., New York: J. Wiley & Sons, 1967.
TOBIN, J., WATTS, H. W. An Evaluation of the Tests. Bulletin of the Oxford University Institute of Statistics, May 1957, p. 161-164.
TOBIN, J. Defense, Dollars, and Doctrines. Yale Review, vol. XLVII, no. 3, March 1958, p. 321-334; and in: Economists of the New Frontier, B.H. Wilkins and C.B. Friday, eds., Random House, 1964, p. 42-57; also in: National Economic Policy, Essays, New Haven: Yale University Press, May 1966.
TOBIN, J. The Business Cycle in the Post-War World: A Review. Quarterly Journal of Economics, vol. LXXIII, no. 2, May 1958, p. 284-291.
TOBIN, J. On the Predictive Value of Consumer Intentions and Attitudes. Review of Economics and Statistics, vol. XLI, February 1959, no. 1, p. 1-11.
TOBIN, J. Reply to Professor Eisner, The Economic Journal. vol. LXIX, September 1959, p. 599-600.
TOBIN, J. Rejoinder to Professor Katona, A Final Remark. Review of Economics and Statistics, vol. XLI, no. 3, August 1959, p. 319.
TOBIN, J. Towards a General Kaldorian Theory of Distribution, A Note. Review of Economic Studies, vol. XXVII, no. 73, February 1960, p. 119-120.
TOBIN, J. Growth Through Taxation. The New Republic, July 1960; and in: Economists of the New Frontier, C.B. Wilkins and C.B. Friday, eds., Random House, 1964, p. 263-273; and in: Problems of the Modern Economy, E.S. Phelps, et al., eds., W.W. Norton Co., Inc., 1966; also in National Economic Policy, Essays, New Haven: Yale University Press, May 1966.
TOBIN, J. Towards Improving the Efficiency of the Monetary Mechanism. Review of Economics and Statistics, August 1960, p. 276-279.
TOBIN, J., WATTS, H. W. Consumer Expenditures and the Capital Account. Proceedings of the Conference on Consumption and Saving, vol. 2, edited by Irwin Friend and Robert Jones, University of Pennsylvania, 1960; also in: Cowles Monograph no. 20, Studies of Portfolio Behavior, J. Tobin & D. Hester, eds., New York: John Wiley & Sons, 1967.
TOBIN, J. The Future of the Fed. Challenge, January 1961; also in National Economic Policy, Essays, New Haven: Yale University Press, May 1966.
TOBIN, J. Money, Capital, and Other Stores of Value. American Economic Review, (Papers and Proceedings), vol. LI, no. 2, May 1961, p. 26-37.
TOBIN, J. Capital Requirements for Economic Growth. California Management Review, vol. IV, Fall 1961, p. 4-13.
TOBIN, J. National Goals and Economic Policy. Papers Presented at Second National Farm Policy Review Conference, Agriculture Policy Institute, North Carolina State College, November 1961, p. 2-38.
TOBIN, J. Government and the Economy. Papers of the Tenth Annual Conference on the Economic Outlook-Ann Arbor Dept. of Economics, University of Michigan, November 1962; also in National Economic Policy, Essays, New Haven: Yale University Press, May 1966.
TOBIN, J. Deficit, Deficit, Who’s Got the Deficit?. The New Republic, January 19 1963; also in: Readings in Economics, Heinz Kohler, ed., Holt, Rinehart & Winston, 1968, p. 142-146; also in National Economic Policy, Essays, New Haven: Yale University Press, May 1966.
TOBIN, J. How Planned is our Economy?. The New York Times, October 13 1963; also in : American National Government in Action, K.M. Schmidt, ed., Dickenson Publishing Co., 1965; and in Readings and Cases in Economics, Dean S. Ammer, ed., Ginn & Co., 1966; also in National Economic Policy, Essays, New Haven: Yale University Press, May 1966.
TOBIN, J., DOLBEAR, F. T., Jr. Comments on the Relevance of Psychology to Economic Theory and Research. Psychology: A Study of a Science, Vol. 6, McGraw-Hill Book Co., 1963.
TOBIN, J. Academic Economics in Washington, Ventures. Magazine of Yale Graduate School, Winter 1963, ed.; also in National Economic Policy (Essays), James Tobin, New Haven: Yale University Press, May 1966.
TOBIN, J. Discussion at 9th Canadian Institute on Public Affairs Conference. Economic Planning in a Democratic Society, University of Toronto Press, 1963, p. 17-24.
TOBIN, J. On the Economic Burden of Defense. Reports and Speeches of the Eighth Yale Conference on the Teaching of the Social Studies, Graduate School, April 1963; also in National Economic Policy (Essays), James Tobin, New Haven: Yale University Press, May 1966.
TOBIN, J. Economic Progress and the International Monetary System. Academy of Political Science, New York, Annual Meeting, May 1963, p. 77-97, Papers and Proceedings; and in: Changing Patterns in Foreign Trade and Payments, Norton, New York, B. Balassa, ed., 1964, p. 112-125; also in National Economic Policy (Essays), James Tobin, New Haven: Yale University Press, May 1966.
TOBIN, J., BRAINARD, W. C. Financial Intermediaries and the Effectiveness of Monetary Controls. American Economic Review (Papers and Proceedings), vol. LIII, no. 2, May 1963, p. 383-400; also in: Cowles Monograph no. 21, Financial Markets and Economic Activity, J. Tobin & D. Hester, eds., New York: John Wiley & Sons, 1967.
TOBIN, J. The International Monetary System and the Dollar. College of Business Administration Lecture Series, Ohio University, May 13 1963.
TOBIN, J. Commercial Banks as Creators of ‚Money‘. Banking and Monetary Studies, Deane Carson, ed., Richard D. Irwin, Inc., 1963, p. 408-419; also in: Readings in Money, National Income and Stabilization Policy, Warren L. Smith and Ronald L. Teigen, eds., Richard D. Irwin, Inc., 1965, p. 156-163; also in: Cowles Monograph no. 21, Financial Markets and Economic Activity, J. Tobin & D. Hester, eds., New York: John Wiley & Sons, 1967.
TOBIN, J. An Essay on the Principles of Debt Management, Fiscal and Debt Management Policies. Commision on Money and Credit, Prentice-Hall, Inc., 1963, p. 143-218; also in: Monetary Theory and Policy, Richard A. Ward, ed., International Textbook, Co., 1966.
TOBIN, J. The Problem of International Liquidity. Statement to the Joint Economic Committee, Congress of the United States, Nov. 15 1963, also in National Economic Policy (Essays), James Tobin, New Haven: Yale University Press, May 1966.
TOBIN, J. Economic Growth as an Objective of Government Policy. American Economic Review (Papers and Proceedings), vol. LIV, no. 3, May 1964, p. 1-20; also in: Economic Analysis and Policy: Background Readings for Current Issues, G.L. Bach and N. Seeber, eds., Prentice-Hall, Inc., 1966; also in: Perspectives on Economic Growth, W.W. Heller, ed., Random House, Inc., 1968; also in National Economic Policy (Essays), James Tobin, New Haven: Yale University Press, May 1966.
TOBIN, J. Europe and the Dollar. Review of Economics and Statistics, vol. XLVI, no. 2, May 1964, p. 123-126; also in: Readings in Money, National Income and Stabilization Policy, Warren L. Smith and Ronald L. Teigen, eds., Richard D. Irwin, Inc., 1965, p. 476-480; and in: Readings in Money and Banking, H.A. Wolf and R.C. Doenges, eds., Appleton-Century-Crofts, N.Y., 1968, p. 232-237; also in National Economic Policy (Essays), James Tobin, New Haven: Yale University Press, May 1966.
TOBIN, J. Tax Cut Harvest. The New Republic, March 7 1964; also in: Readings in Economics, H. Kohler, ed., Holt, Reinhart & Winston, 1968, p. 159-164.
TOBIN, J. Government as Planner. Yale Political, vol. 3, no. 4, 1964.
TOBIN, J. Barry’s Economic Crusade. The New Republic, October 1964; also in National Economic Policy (Essays), James Tobin, New Haven: Yale University Press, May 1966.
TOBIN, J. Discussion 3, at Central Banking Symposium, A Critique of Central Banking in the United States. Proceedings of a 50th Anniversary Symposium, Annual Report 1964, Federal Reserve Bank of Boston, p. 30-33.
TOBIN, J. The Future of the Dollar as International Money. Carl Snyder Memorial Lecture, University of California, Santa Barbara, March 23 1965, also in National Economic Policy (Essays), James Tobin, New Haven: Yale University Press, May 1966.
TOBIN, J. The Monetary Interpretation of History, (A Review Article). discussion of A Monetary History of the United States 1867-1960, by M. Friedman and A. Schwartz, American Banker’s Association Conference, Princeton; also in: American Economic Review, vol. LV, no. 3, June 1965, p. 464-485.
TOBIN, J. The New Era of Good Feeling Between Business and Government. Challenge, June 1965, p. 23-26; also in National Economic Policy (Essays), James Tobin, New Haven: Yale University Press, May 1966.
TOBIN, J. What is the Lesson of 1929?. The New Republic, June 19 1965; also in National Economic Policy (Essays), James Tobin, New Haven: Yale University Press, May 1966.
TOBIN, J. Money and Economic Growth. Irving Fisher Lecture for Econometric Society Meetings, Zurich, September 11 1964; Econometrica, vol. 33, no. 4, October 1965, p. 671-684.
TOBIN, J. On Improving the Economic Status of the Negro. Daedalus, vol. 94, no. 4, Fall 1965, (Proceedings of the American Academy of Arts and Sciences); also in: The Negro American, T. Parsons and K. Clark, eds., Houghton Mifflin, 1966.
TOBIN, J. The Burden of the Public Debt: A Review Article. Journal of Finance, vol. XX, no. 4, December 1965, p. 679-682 (Public Debt and Future Generations, James Ferguson, ed.).
TOBIN, J. The Theory of Portfolio Selection. International Economic Assn., in: F. Hahn and F. Brechling, eds., The Theory of Interest Rates, Macmillan & Co., 1965, p. 3-51.
TOBIN, J., SOLOW, R., WEIZSÄCKER, C. von, YAARI, M. Neoclassical Growth with Fixed Factor Proportions. Review of Economic Studies, April 1966, p. 79-115.
TOBIN, J. Adjustment Responsibilities of Surplus and Deficit Countries. In Maintaining and Restoring Balance in International Payments, Princeton, N.J.: Princeton University Press, 1966, p. 201-211.
TOBIN, J. The Case for an Income Guarantee. The Public Interest, no. 4, Summer 1966, p. 31-41; and „Rejoinder“, Fall 1966; also in: Social Progress, Office of Church and Society of the Board of Christian Education of the United Presbyterian Church, Lancaster, Pa., vol. LVIII, no. 1, Sept./Oct. 1967, p. 32-41.
TOBIN, J. Check the Boom?. The New Republic, Sept. 3 1966; also in: American Fiscal Policy, L.C. Thurow, ed., Prentice-Hall, Inc., 1967.
TOBIN, J. Income Guarantees and Incentives. Proceedings of the National Symposium on Guaranteed Income, Dec. 9 1966, The Chamber of Commerce of the United States.
TOBIN, J. Can the U.S. Avoid Depressions and Inflation?. Voice of America TV Lecture, 1965, also in: The Changing American Economy, John R. Coleman, ed., Basic Books, Inc., N.Y., 1967.
TOBIN, J. It Can Be Done! Conquering Poverty in the U.S. by 1976. The New Republic, June 3 1967.
TOBIN, J. The Neutrality of Money in Growth Models: A Comment. Economica, February 1967.
TOBIN, J. Life Cycle Saving and Balanced Growth. In Ten Economic Studies in the Tradition of Irving Fisher, Wm. Fellner, ed., New York: John Wiley & Sons, Inc., 1967, p. 231-256.
TOBIN, J. Comment on: Crockett-Friend and Jorgenson papers. In Determinants of Investment Behavior, Universities-National Bureau of Econ. Research Conference Series no. 18, 1967, p. 156-160.
TOBIN, J. For the Tax Surcharge. The Washington Post, Oct. 8 1967.
TOBIN, J. Children’s Allowances?. The New Republic, Nov. 25 1967; Reply, Dec. 1967.
TOBIN, J., PECHMAN, J. A., MIESZKOWSKI, P. Is A Negative Income Tax Practical?. Yale Law Journal, vol. 77, no. 1, Nov. 1967, p. 1-27.
TOBIN, J. Unemployment and Inflation: The Cruel Dilemma. In Price Issues in Theory, Practice and Policy, A. Phillips, ed., University of Penna. Press, 1967.
TOBIN, J. Appraising the Nation’s Economic Policy, 1966-67. Comments prepared for American Statistical Assn. panel discussion at December 1967 Joint Meetings; published in Proceedings.
TOBIN, J. The Twilight of the Gold Standard. The Washington Post, Jan. 7 1968.
TOBIN, J. The Consumption Function. International Encyclopedia of the Social Sciences, vol. III, 1968, p. 358-368.
TOBIN, J., BRAINARD, W. C. Pitfalls in Financial Model Building. American Economic Review (Papers and Proceedings), May 1968, p. 99-122.
TOBIN, J. Notes on Optimal Monetary Growth (Paper presented at 1967 Conference of University Professors, Sept. 5-8), Journal of Political Economy, August 1968, p. 833-859.
TOBIN, J. Raising the Incomes of the Poor. In Agenda for the Nation, Brookings Institution, Washington, D.C., 1968, p. 77-116.
TOBIN, J. Third Rational Debate Seminar, 1967-68, James Tobin and W. Allen Wallis. In Welfare Programs: An Economic Appraisal, Washington, D.C., 1968, American Enterprise Institute for Public Research.
TOBIN, J. Comment on: Mean-Variance Analysis in the Theory of Liquidity Preference and Portfolio Selection, Borch, Karl and Martin Feldstein. Review of Economic Studies, January 1969, p. 13-14.
TOBIN, J., ROSS, L. Paying for Higher Education. The New Republic, May 3 1969, p. 18-21; Rejoinder to Mr. Thackrey, June 7 1969, p. 32-33.
TOBIN, J., SWAN, C. Money and Permanent Income: Some Empirical Tests. American Economic Review, vol. LIX, May 1969, p. 285-295.
TOBIN, J. A General Equilibrium Approach to Monetary Theory. Journal of Money, Credit, and Banking, vol. 1, February 1969, p. 15-29.
TOBIN, J. Monetary Semantics. In Targets and Indicators of Monetary Policy, Institute of Govt. and Public Affairs, UCLA, K. Brunner, ed., Chandler Publishers, California, 1969, p. 165-174.
TOBIN, J. The Case for a Negative Income Tax, Money and the Poor: Public Welfare, the Negative Income Tax, or What?. Proceedings of a Conference co-sponsored by the University of Connecticut Schools of Law and Social Work, February 3 1969, p. 60-67.
TOBIN, J. In Defense of the New Economics. Fortune, Oct. 1969, p. 211-212.
TOBIN, J. Deposit Interest Ceilings as a Monetary Control. Journal of Money, Credit and Banking, vol. II, no. 1, February 1970, p. 4-14.
TOBIN, J. Money and Income: Post Hoc Ergo Propter Hoc?. Quarterly Journal of Economics, vol. LXXXIV, May 1970, 301-317; Rejoinder to Milton Friedman, p. 328-329.
TOBIN, J. On Limiting the Domain of Inequality. Journal of Law and Economics, vol. XIII, 2, October 1970, p. 263-277.
TOBIN, J. Macroeconomics. In Economics (The Behavioral and Social Sciences Survey), Prentice-Hall, Inc., 1970, p. 44-54.
TOBIN, J., NORDHAUS, W. Is Growth Obsolete?. In Economic Growth, Colloquium V (50th Anniversary Series), National Bureau of Economic Research, 1972; also in: The Measurement of Economic and Social Performance, Milton Moss, ed., NBER vol. 38, Studies in Income and Wealth, p. 509-532; Reply to Meyer, p. 563-564.
TOBIN, J., ROSS, L. Living with Inflation. The New York Review of Books, May 6 1971, p. 23-26; Rejoinder to Gordon Tullock, Journal of Money, Credit and Banking, vol. 4, no. 2, May 1972, p. 431-436.
TOBIN, J. Administration’s Gamble with Nation’s Economy. The Washington Post, Oct. 31 1971.
TOBIN, J. Inflation and Unemployment. American Economic Review, March 1972, vol. LXII, no. 1, p. 1-18. (Presidential Address at Annual Meeting of American Economic Assn., New Orleans, Dec. 1971.
TOBIN, J., ROSS, L. Reply to Tullock. Journal of Money, Credit and Banking, vol. IV, no. 2, May 1972, p. 431-436. (Regarding original article „Living with Inflation“).
TOBIN, J. Some Arithmetic on the McGovern Economic Policies. New York Times, July 18 1972.
TOBIN, J. An Exchange of Views. The New Republic, July 22 1972. J. Tobin’s Reply to Melville J. Ulmer’s June 24, 1972 article on McGovern’s Economics, and Reply by Melville J. Ulmer.
TOBIN, J. Friedman’s Theoretical Framework. Journal of Political Economy, vol. 80, no. 5, Sept./Oct. 1972, p. 852-863. Also: Milton Friedman’s Monetary Framework, Univ. of Chicago Press, 1974, p. 77-89.
TOBIN, J. Wealth, Liquidity and the Propensity to Consume. In Human Behavior in Economic Affairs (Essays in Honor of George Katona), eds., B. Strumpel, James N. Morgan, and Ernest Zahn, Amsterdam: Elsevier Scientific Publishing Co., 1972, p. 36-56.
TOBIN, J. Technological Development and Employment. Cowles Foundation Discussion Paper No. 348, December 1972. (Also a Discussion Paper of the Institute of Development Studies, University of Nairobi), Eastern Africa Economic Review, vol. 6, no. 1, June 1974.
TOBIN, J. The Wage-Price Mechanism: Overview of the Conference. In The Econometrics of Price Determination/Conference, S. Weiner, ed., Board of Governors, Federal Reserve System, 1973.
TOBIN, J. The Economy of China: A Tourist’s View. Challenge, March/April 1973, p. 20-31.
TOBIN, J. Cambridge (U.K.) vs. Cambridge (Mass.), Review of: Economic Heresies: Some Old Fashioned Questions in Economic Theory by Joan Robinson. The Public Interest, no. 31, Spring 1973, p. 102-109.
TOBIN, J. The Careers of Paul Douglas, Review of: In the Fullness of Time: Memoirs, by Paul H. Douglas. The Yale Review, Spring 1973, p. 438-444.
TOBIN, J. Can We Live With Inflation? Can We Live Without It?. In The Economic Outlook for 1974, Annual University of Michigan Conference on the Economic Outlook, Nov. 15-16 1973, p. 71-80.
TOBIN, J. Financing Higher Education. Paper presented at Business Today Conference, Nov. 19 1973, Chicago, III.
TOBIN, J. What is Permanent Endowment Income?. American Economic Review, Proceedings, vol. LXIV, 2, May 1974, p. 427-432.
TOBIN, J. How Political Must the Council of Economic Advisers Be?. Discussion at Annual Meetings, Allied Social Sciences Assns., New York, Dec. 1973, Challenge, Mar./April 1974, p. 28-42.
TOBIN, J. Reflections on Recent History. Paper presented at American Statistical Assn. Panel on Income Maintenance & Welfare Reform session, Annual Meetings, Dec. 1973; in Proceedings of the Social Statistics Section, 1973, ASA, 82-84; Institute for Research on Poverty Discussion Paper no. 202-74.
TOBIN, J. Review of: Economics and the Public Purpose, by J.K. Galbraith. Yale Law Journal, vol. 83, no. 6, May 1974, p. 1291-1303.
TOBIN, J. The Energy Crisis and Life-Styles: More Bark than Bite. Business and Society Review, Spring 1974, no. 9, p. 60-64. (Adaptation of National Academy of Sciences paper, given at Forum on Energy).
TOBIN, J. Monetary Policy in 1974 and Beyond. Brookings Papers on Economic Activity, 1, 1974, p. 219-232.
TOBIN, J. Notes on the Economic Theory of Expulsion and Expropriation. Journal of Development Economics, 1, 1974, p. 7-18.
TOBIN, J. Conserving Taxable Capacity. Evaluation Magazine, Spring 1974, 33-34. (Special Issue: The Human Services Shortfall).
TOBIN, J. Inflation, Interest Rates, and Stock Values. The Morgan Guaranty Survey, July 1974, p. 4-7.
TOBIN, J. There are Three Types of Inflation; We Have Two. Op-Ed page, New York Times, Sept. 6 1974.
TOBIN, J., BUITER, W. Long Run Effects of Fiscal and Monetary Policy on Aggregate Demand. In Monetarism, Studies in Monetary Economics, vol. 1, Jerome L. Stein, ed., Amsterdam: North-Holland Pub. Co., 1976, 1974 Conference, p. 273-336.
TOBIN, J. Keynesian Models of Recession and Depression. Cowles Foundation Discussion Paper no. 387, Jan. 1975; in: American Economic Review, Papers and Proceedings, May 1975, vol. LXV, no. 2 , p. 195-202.
TOBIN, J. Ford and the Fed: Creating a Recession. Yale Daily News, Feb. 11 1975.
TOBIN, J. Monetary Policy, Inflation, and Unemployment. In Answers to Inflation and Recession: Economic Policies for a Modern Society, A Colloquium, The Conference Board, Albert T. Sommers, ed., 1975, p. 2-19.
TOBIN, J. The World Economy in Retreat: The United States. First Chicago Report, May 1975, First National Bank of Chicago Conference on World Economic Stabilization.
TOBIN, J. Who is Crowding Out What?. Challenge, Nov./Dec. 1975, p. 56-57.
TOBIN, J. Discussion of Some Reflections on Describing Structures of Financial Sectors by Albert Ando and Franco Modigliani. In The Brookings Model: Perspective and Recent Developments, Gary Fromm and Lawrence R. Klein, eds., Amsterdam: North-Holland Pub. Co., 1975, p. 565-567.
TOBIN, J. Hansen and Public Policy. Quarterly Journal of Economics, vol. XC, Feb. 1976, p. 32-37.
TOBIN, J. Economic Stabilization Policies in the United States, The Great Ideas Today. A Symposium on the World Economy, 1976.
TOBIN, J. Interest (Rate of) and Portfolio. Encyclopedia published by Societa Per Azioni, Milan, Italy.
TOBIN, J., BRAINARD, W. C. Asset Markets and the Cost of Capita. In Economic Progress: Private Values and Public Policy (Essays in Honor of William Fellner), Richard Nelson and Bela Balassa, eds., Amsterdam: North-Holland Publishing Co., 1977, p. 235-262.
TOBIN, J. For a Faster Recovery. Economic Outlook U.S.A. (Univ. of Michigan), vol. 3, Summer 1976, p. 39-41.
TOBIN, J. The Political Economy of the 1960s. In Toward New Human Rights, Lyndon B. Johnson School of Public Affairs, University of Texas, 1977, p. 33-50.
TOBIN, J. Inflation Control as Social Priority. Paper presented at Conference on the Political Economy of Inflation and Unemployment in Open Economies, Athens, Greece, Oct. 21-23 1976.
TOBIN, J. The Nobel Milton. The Economist, Oct. 23 1976, p. 94-95.
TOBIN, J. American Capitalism: The First Two Hundred Years. In American Capitalism – The Next 100 Years, Wright Investors Service, 1977.
TOBIN, J. Monetary Policies and the Economy – The Transmission Mechanism. In Southern Economic Journal, Jan. 1978, vol. 44, no. 3, p. 421-431.
TOBIN, J. President Carter’s Economic Program. Japan Economic Journal, Mar. 26 1977.
TOBIN, J., BAILY, M. Inflation-Unemployment Consequences of Job Creation Policies. In Brookings Studies in Social Economics, Creating Jobs, John L. Palmer, ed., Wash., D.C., Brookings Institution, 1978, p. 43-72.
TOBIN, J. Considerations Regarding Taxation and Inequality. In Income Redistribution Conference, Colin D. Campbell, ed., Wash., D.C., American Enterprise Institute, 1977.
TOBIN, J. Full Recovery or Stagnation?. Seminar in Economics, Mar. 1977, Western Michigan University. In Economic Advice and Executive Policy, Werner Sichel, ed., New York: Praeger Publishers, 1978, p. 97-109.
TOBIN, J. Prospects for Continued Economic Growth in the United States. Yale University Conference for The Connecticut Council for the Social Studies, Yale History Dept. in cooperation with Conn. State Dept. of Education, May 6 1977.
TOBIN, J. Deficit Spending and Crowding Out in Shorter and Longer Runs. In Economic Theory for Economic Efficiency: Essays in Honor of Abba P. Lerner, M.I.T. Press, Cambridge, 1979, Harry I. Greenfield et al., eds., p. 217-236.
TOBIN, J. How Dead is Keynes?. Invited Address at Western Economic Assn. Annual Meetings, June 1977, in: Economic Inquiry, vol. XV, no. 4, Oct. 1977, p. 459-68.
TOBIN, J. Portrait: Tjalling Koopmans. Challenge, Sept./Oct. 1977, p. 58-59.
TOBIN, J. Review: Thomas Sowell, Race and Economics. In Journal of Economic Literature, Dec. 1977, p. 1391-1394.
TOBIN, J. Discussion: Of Public Pension Funding and U.S. Capital Formation: A Medium-Run View, by Benjamin M. Friedman. In Funding Pensions: Issues and Implications for Financial Markets, Federal Reserve Bank of Boston, Proceedings of a Conference, Oct. 1976, p. 206-212.
TOBIN, J. Macroeconomic Models and Policy. Chapter 18 b in Frontiers in Quantitative Economics, vol. III, B, 1977, Michael D. Intriligator, ed., Amsterdam: North-Holland Pub., p. 759-764.
TOBIN, J. The Economic Impasse: Is There A Way Out?. In Economic Outlook, U.S.A., November 1977, vol. 4, no. 4, p. 51-54. Also: Reprint of Center for Economic Education, Lehigh University, Annual Lecture in Econ. Problems, Oct. 1977.
TOBIN, J. Yale’s Primary Mission. In Yale Alumni Journal, Nov. 1977.
TOBIN, J., BAILY, M. Macroeconomic Effects of Selective Public Employment and Wage Subsidies. In Brookings Papers on Economic Activity, 1977, 2, p. 511-541.
TOBIN, J. Can Carter Afford Arthur Burns?. New York Times, Nov. 20 1977.
TOBIN, J. Comment from an Academic Scribbler, for Symposium on Democracy in Deficit. Journal of Monetary Economics, 4, 1978, p. 617-625.
TOBIN, J. Carter’s Macroeconomics: The Record to date. Journal of Post-Keynesian Economics, vol. 1, no. 1, 1978.
TOBIN, J. A Proposal for International Monetary Reform. Eastern Economic Journal, vol. IV, no. 3-4, July/Oct. 1978, p. 153-159.
TOBIN, J. Government Deficits and Capital Accumulation, Paish Lecture. In Contemporary Economic Analysis, vol. 2, David A. Currie & Will Peters, eds. (Papers presented at Conference of the Assn. of Univ. Teachers of Economics, 1978), London: Croom Helm, 1980, p. 23-45.
TOBIN, J., BUITER, W. Debt Neutrality: A Brief Review of Doctrine and Evidence. In Social Security versus Private Saving in Post-Industrial Societies, George von Furstenberg, ed., vol. 1, Ballinger Pub., 1980.
TOBIN, J., BUITER, W. Fiscal and Monetary Policies, Capital Formation, and Economic Activity. In The Government and Capital Formation, ed., George M. von Furstenberg, vol. 2, Series on Capital Investment and Saving, Cambridge, Mass.: Ballinger Pub. Co., 1980, Chapter 3.
TOBIN, J. A New Economic Economic Initiative?. In American Capitalism, Proceedings, 2nd Annual Symposium, Wright Investors‘ Services, 1978, p. 1-11.
TOBIN, J. Anti-Inflation Policy and the 1979 Outlook. Economic Outlook, U.S.A., Autumn 1978, Vol. 5, no. 4.
TOBIN, J. Explaining the Existence and Value of Money. Comment at Federal Reserve Bank of Minnesota Conference on Models of Monetary Economics, Dec. 7-8 1978.
TOBIN, J. Foreign Economic Policy, Depreciation of the dollar and Domestic Policy. Yale Law School, Conference on The United States Role in the Contemporary World, Jan. 20 1979.
TOBIN, J. A Short Primer on Inflation in the United States. In THINK (IBM publication).
TOBIN, J., de MACEDO, J. B. The Short-Run Macroeconomics of Floating Exchange Rates: An Exposition. In John S. Chipman and Charles P. Kindleberger, eds., Flexible Exchange Rates and the Balance of Payments: Essays in Memory of Egon Sohmen, Amsterdam: North-Holland Publ., 1980, Chapter 1.
TOBIN, J. Diagnosing Inflation: A Taxonomy. In volume of Conference papers, Israel, June 1979, Academic Press.
TOBIN, J. Kermit Gordon, 1916-1976, Biographical Memoir. American Philosophical Society, Year Book, 1978.
TOBIN, J. The Federal Budget and the Constitution. Taxing and Spending, Fall 1979, p. 27-36; Rejoinder, Winter 1979, p. 68-71.
TOBIN, J. The Volcker Shock. New York Times, Sunday Financial Section, Nov. 11 1979.
TOBIN, J. Reflections Isnpired by Proposed Constitutional Restrictions on Fiscal Policy In Economic Regulation, Papers in Honor of James R. Nelson, Kenneth D. Boyer and William G. Shepherd, eds.
TOBIN, J. Inflation. In Encyclopedia of Economics, Douglas Greenwald, ed., McGraw-Hill, New York, 1982, p. 510-523.
TOBIN, J. Harry Gordon Johnson, 1923-1977. In Proceedings of The British Academy, London: Oxford University Press, vol. LXIV, 1980.
TOBIN, J. Expectations, Attitudes, and Economic Behavior. Paper given at Founders Symposium, University of Michigan Survey Research Center, Oct. 1979.
TOBIN, J., BRAINARD, W. C., BACKUS, D., SMITH, G. A Model of U.S. Financial and Nonfinancial Economic Behavior In Journal of Money, Credit, and Banking, vol. XII, no. 2, May 1980, p. 259-293.
TOBIN, J. Are New Classical Models Plausible to Guide Policy?. Journal of Money, Credit, and Banking, vol. XII, no. 4, part 2, Nov. 1980. Discussion of papers by McCallum, Fellner, Barro, and Lucas at American Enterprise Institute Conference.
TOBIN, J. Stabilization Policy Ten Years After. In BPEA, 1:, 1980, George L. Perry, ed., Wash., D.C.: Brookings Institution, Tenth Anniversary Issue, p. 19-72.
TOBIN, J., DOLDE, W. Mandatory Retirment Saving and Capital Formation. Paper presented at IEA Meeting, Bergamo, Italy, June 9-14 1980.
TOBIN, J. Spending Limits and Measures of Government Size. Puerto Rico Economic Quarterly (First Federal Savings Bank of Puerto Rico), vol. II, 1980.
TOBIN, J. The Monetarist Counter-Revolution Today – An Appraisal. Paper given before The Royal Economic Society, July 1980, The Economic Journal, vol. 91, 361, Mar. 1981, p. 29-42; Discussions, p. 43-57.
TOBIN, J. Inflation: The Monetary and Structural Causes and Cures. Paper given at Brooklyn College of the City University of New York, Conference on Society in Change, Inflation Through the Ages: Economic, Social, Psychological andd Historical Aspects, March 1980.
TOBIN, J. Steering the Economy Then and Now. In Joseph A. Pechamn and N.J. Simler, eds., Economics in the Public Service (Papers in Honor of Walter W. Heller), W.W. Norton & Co., 1982, p. 11-45.
TOBIN, J. Discussion: Of Karl Brunner, The Control of Monetary Aggregates. In Controlling Monetary Aggregates, III, Conference Series No. 23, Federal Reserve Bank of Boston, p. 69-75, October 1980.
TOBIN, J. Energy Strategy and Macroeconomic Policies. (held in N.Y. City), Donald S. MacNaughton Symposium, Proceedings, 1981, Syracuse University.
TOBIN, J. Sleight of Mind, (Laetrile, alchemy, and Reaganomics). The New Republic, March 21 1981.
TOBIN, J. Comment on: On A Theoretical and Empirical Basis of Macroeconometric Models, by Albert Ando. In Large-Scale Macro-Econometric Models: Theory and Practice, Jan Kmenta and James B. Ramsey, eds., Amsterdam: North-Holland Pub., Oct. 1978, University of Michigan Conference.
TOBIN, J. The Reagan Economic Program: Budget, Money, and the Supply Side. In The Reagan Economic Program, Supplement to Federal Reserve Bank’s Economic Review, San Francisco, May 1981.
TOBIN, J. Discussion: Fellner on the state of Monetary Policy. In Proceedings of the Colloquium on Alternatives for Economic Policy, The Conference Board, Wash., D.C., June 11 1981.
TOBIN, J. The State of Exchange Rate Theory: Some Skeptical Observations. In Richard Cooper, et al., eds., Ballinger Pub., 1982, Chapter 7, The International Monetary System Under Flexible Exchange Rates: Global, Regional and National, Essays in Honor of Robert Triffin, Ballinger Pub.
TOBIN, J. Discussion of: Jack Guttentag and Richard Herring, Financial Disorder and International Banking. Wharton School Symposium on Savings, Investment and Capital Markets, March 1981.
TOBIN, J. Comments on: Supply versus Demand Approaches to the Problem of Stagflation, by Michael Bruno and Jeffrey Sachs. In Macroeconomic Policies for Growth and Stability, A European Perspective, Symposium 1979, Herbert Giersch, ed., J.C.B. Mohr, Tubingen, 1981.
TOBIN, J. Monetary Policy: The Collision Course. Journal of the Federation of American Scientists, vol. 34, no. 5, June 1981, p. 5-7.
TOBIN, J. Review of: Keynes’ Monetary Thought: A Study of Its Development, by Don Patinkin, Durham. North Carolina: Duke University Press, 1976, 155. In Journal of Political Economy, vol. 89, 1, 1981.
TOBIN, J. Supply-Side Economics: What Is It? Will It Work?. Economic Outlook U.S.A., vol. 8, no. 3, Summer 1981, p. 51-53.
TOBIN, J. Macroeconomics and Fiscal Policy. A chapter in Paul A. Samuelson and Modern Economics.
TOBIN, J., WHITE, P. Comments on Lawrence H. Summers, Taxation and Corporate Investment: A q-Theory Approach. In Wm. C. Brainard and George L. Perry, eds., Brookings Papers on Economic Activity, 1, 1981, Brookings Institution, p. 133-139.
TOBIN, J. The Conservative Counter-Revolution in Economic Policy. Paper presented at New York University Sesquecentennial, Oct. 16 1981.