NationMaster - Encyclopedia: James Tobin

For the convicted Republican political operative, see James Tobin (political operative). James Tobin, of Bangor, Maine, President George W. Bushs New England campaign chairman, was convicted December 15, 2005, on telephone harassment charges for his part in a plot to jam the Democrats phones on Election Day 2002. ...

James Tobin (March 5, 1918 – March 11, 2002) was a United States economist. March 5 is the 64th day of the year in the Gregorian Calendar (65th in leap years). ... 1918 (MCMXVIII) was a common year starting on Tuesday of the Gregorian calendar (see link for calendar) or a common year starting on Wednesday of the Julian calendar. ... March 11 is the 70th day of the year in the Gregorian Calendar (71st in Leap year). ... For album titles with the same name, see 2002 (album). ... An economist is an individual who studies, develops, and applies theories and concepts from economics, and writes about economic policy. ...

He graduated from University Laboratory High School of Urbana, Illinois and Harvard University, served as an economic advisor to the government of John F. Kennedy, and taught for many years at Yale University. In 1955 he won the John Bates Clark Medal, and in 1981 he won the Nobel Memorial Prize in Economics. University Laboratory High School is a laboratory school located on the campus of the University of Illinois in Urbana, Illinois, that has students from 8th grade (roughly age 13) through 12th grade. ... Harvard University campus (old map) Harvard University (incorporated as The President and Fellows of Harvard College) is a private university in Cambridge, Massachusetts. ... John Fitzgerald Kennedy (May 29, 1917 â€“ November 22, 1963), often referred to as John F. Kennedy, JFK or Jack Kennedy, was the 35th President of the United States. ... Yale redirects here. ... 1955 (MCMLV) was a common year starting on Saturday of the Gregorian calendar. ... The John Bates Clark Medal is awarded biannually by the American Economic Association to that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge. Named after the American Neoclassical economist John Bates Clark (1847-1938), it is considered... 1981 (MCMLXXXI) was a common year starting on Thursday of the Gregorian calendar. ... The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel (in Swedish Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is a prize awarded each year for outstanding intellectual contributions in the field of economics. ...

Tobin advocated and developed the ideas of Keynesian economics. He believed that governments should intervene in the economy in order to stabilise output and avoid recessions. His academic work included pioneering contributions to the study of investment, monetary and fiscal policy and financial markets. Furthermore, he proposed an econometric model for censored endogenous variables, the well known "Tobit model". Keynesian economics (pronounced ), also called Keynesianism, is an economic theory based on the ideas of an English economist, John Maynard Keynes, as put forward in his book The General Theory of Employment, Interest and Money, published in 1936 in response to the Great Depression of the 1930s. ... The Tobit Model is an econometric model proposed by James Tobin (1958) to describe the relationship between a dependent variable which cannot take on values smaller than zero and an independent variable (or vector) . The model supposes that there is a latent unobservable variable . ...

Outside of academia, Tobin became widely known for his suggestion of a tax on foreign exchange transactions, now known as the "Tobin tax". This was designed to reduce speculation on currency markets, which he saw as unproductive. He also suggested that the proceeds of the tax could be used to fund projects for the benefit of Third World countries, or to support the United Nations. A tax (also known as a duty) is a financial charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (e. ... A Tobin tax is the suggested tax on all trade of currency across borders. ... The Currency Market or Foreign Exchange Market is one of the largest markets in the world. ... For the Jamaican reggae band, see Third World (band). ... United Nations - Wikipedia, the free encyclopedia /**/ @import /skins-1. ...

See also

A graph of Tobins q for the US market from 1900 to 2003. ... The Tobit Model is an econometric model proposed by James Tobin (1958) to describe the relationship between a dependent variable which cannot take on values smaller than zero and an independent variable (or vector) . The model supposes that there is a latent unobservable variable . ...

External links

Nobel Memorial Prize in Economics: Laureates (1976-2000)

1976: Friedman | 1977: Ohlin, Meade | 1978: Simon | 1979: Schultz, Lewis | 1980: Klein | 1981: Tobin | 1982: Stigler | 1983: Debreu | 1984: Stone | 1985: Modigliani | 1986: Buchanan | 1987: Solow | 1988: Allais | 1989: Haavelmo | 1990: Markowitz, Miller, Sharpe | 1991: Coase | 1992: Becker | 1993: Fogel, North | 1994: Harsanyi, Nash, Selten | 1995: Lucas | 1996: Mirrlees, Vickrey | 1997: Merton, Scholes | 1998: Sen | 1999: Mundell | 2000: Heckman, McFadden The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel (in Swedish Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is a prize awarded each year for outstanding intellectual contributions in the field of economics. ... Winners of the Nobel Prize are scientists, writers and peacemakers who have been awarded in their field of endeavour, and who are known collectively as either Nobel laureates or Nobel Prize winners. ... Milton Friedman Milton Friedman (born July 31, 1912) is a U.S. economist, known for his work on macroeconomics, microeconomics, economic history, statistics, and for his advocacy of laissez-faire capitalism. ... Bertil Ohlin (April 23, 1899 â€“ August 3, 1979), was a Swedish economist and winner of the 1977 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. ... James Edward Meade (June 23, 1907, Swanage, Dorset â€“ December 22, 1995, Cambridge) was an English economist and winner of the 1977 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel jointly with the Norwegian Bertil Ohlin for their Pathbreaking contribution to the theory of international trade and... Herbert Alexander Simon (June 15, 1916 â€“ February 9, 2001) was a researcher in the fields of cognitive psychology, computer science, public administration, economics and philosophy (sometimes described as a polymath). ... Theodore Schultz, the 1979 winner (jointly with Arthur Lewis) of the Bank of Sweden Prize in the Economic Sciences (also known as the Nobel Prize in Economics) was born 1902 in the United States. ... Sir William Arthur Lewis (January 23, 1915 â€“ June 15, 1991) was a Saint Lucian economist well known for his contributions in the field of economic development. ... Lawrence Robert Klein (born September 14, 1920) is an American economist. ... George Joseph Stigler (1911 - 1991) was a U.S. economist. ... Gerard Debreu was a naturalized US citizen from France Gerard Debreu (July 4, 1921 â€“ December 31, 2004) was a French-born American economist who won the 1983 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. ... Sir John Richard Nicholas Stone (August 30, 1913 â€“ December 6, 1991) was an eminent British economist who in 1984 received the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for developing an accounting model that could be used to track economic activities on a national and... Franco Modigliani (June 18, 1918 – September 25, 2003) was an Italian-American economist at the MIT Sloan School of Management, and winner of The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 1985. ... For the president of this name, see James Buchanan. ... Robert Merton Solow (born August 23, 1924) is an American economist particularly known for his work on the theory of economic growth. ... Maurice Allais (born May 31, 1911) was the 1988 winner of The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for his pioneering contributions to the theory of markets and efficient utilization of resources. ... Trygve Magnus Haavelmo (13 December 1911 â€“ 26 July 1999), born in Skedsmo, Norway, was an influential economist with main research interests centered on the fields of econometrics and economics theory. ... Harry Max Markowitz (born August 24, 1927) is an influential economist at City University of New York and winner of the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 1990. ... Merton Howard Miller (May 16, 1923 - June 3, 2000) won the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 1990, along with Harry Markowitz and William Sharpe. ... William Forsyth Sharpe (born June 16, 1934) is Professor of Finance, Emeritus at Stanford Universitys Graduate School of Business and the winner of the 1990 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. ... Ronald Coase (born December 29, 1910) is a British economist. ... Gary Stanley Becker (born December 2, 1930) is an American economist. ... Robert William Fogel (born July 1, 1926) is an American economic historian and scientist, and Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel winner in 1993 (with Douglass North). ... Douglass Cecil North (born November 5, 1920) is co-recipient of the 1993 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. ... John Charles Harsanyi (May 29, 1920 â€“ August 9, 2000) was a Hungarian-American business and economics professor who contributed to the study of game theory in mathematics by developing the analysis of games of incomplete information. ... John Forbes Nash Jr. ... Reinhard Selten (born October 5, 1930) is a German economist. ... Robert Emerson Lucas, Jr. ... James Alexander Mirrlees (born July 5, 1936, Minnigaff, Scotland) is a Scottish economist and winner of the 1996 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. ... William Vickrey (June 21, 1914, Victoria, British Columbia - October 11, 1996, New York State) was a Columbia University professor, who was awarded the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. ... This article is about the economist. ... Myron S. Scholes (born July 1, 1941) is one of the authors of the famous Black-Scholes equation. ... Amartya Sen Amartya Kumar Sen CH (Hon) (born November 3, 1933 in India), is an economist and a winner of the Bank of Sweden Prize in Economic Sciences (sometimes referred to informally as the Nobel Prize for Economics) for his work on famine, human development theory, welfare economics, the underlying... Robert Alexander Mundell (born October 24, 1932) is a Canadian economist who graduated from the University of British Columbia in Vancouver. ... James Heckman (born April 19, 1944) is an economist at the University of Chicago. ... Daniel L. McFadden (born July 29, 1937) is an econometrician who won (jointly with James Heckman) the 2000 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for his development of theory and methods for analyzing discrete choice. He is currently the E. Morris Cox Professor of...

Complete List | Laureates (1969-1975) | Laureates (2001- )