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Nobel Prize winner James Tobin has made outstanding contributions to modern macroeconomics. In this final collection of his work he examines the economic policies of the United States and its relations with other major economies after 1990. In James Tobin's view, the welfare of populations...
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The microeconomic foundation of the theory of money has long represented a puzzle to economic theory. Why is there … Money? derives the foundations of monetary theory from advanced price theory in a mathematically precise family of trading … transaction costs. The result is foundations of monetary theory consistent with and derived from modern price theory. …
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