James Tobin

James Tobin

This 1969 paper by James Tobin, published in the inaugural issue of the Journal of Money, Credit and Banking, sets out a general-equilibrium framework for monetary analysis built around the capital …

James Tobin

This 1958 Review of Economic Studies paper by James Tobin asks why investors hold non-interest-bearing cash at all, and derives the inverse relationship between aggregate money demand and the interest …

James Tobin

This paper works out, with a simple mathematical model, whether the ordinary transactions demand for cash -- the money people hold just to bridge the gap between when they receive income and when they …