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...

Although Tobin 1955 was one of the founding papers of the neoclassical one-sector growth model with smooth substitution between capital and labor, James Tobin's contributions to long-run growth theory throughout his career stood apart from other neoclassical growth models because of his emphasis...

Best known as a Keynesian macroeconomist and monetary theorist, James Tobin was also actively engaged in empirical economics from his doctoral dissertation onward. His innovative combination of time-series data with household budget surveys in his 1947 dissertation and 1950 food demand study,...

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...