Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/149717
Authors: 
Dimand, Robert W.
Year of Publication: 
2014
Series/Report no.: 
CHOPE Working Paper 2014-05
Abstract: 
This 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 Particular attention will be paid to Tobin's unpublished series of three Gaston Eyskens Lectures at Leuven on Neo-Keynesian Monetary Theory: A Restatement and Defense, and the paper draws on my forthcoming volume of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.
Subjects: 
James Tobin
modern monetary theory
microeconomic foundations
Keynesian economics
corridor of stability
JEL: 
B22
B31
E12
Document Type: 
Working Paper

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