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James Tobin

What is 'James Tobin'

An American economist who won the Nobel Memorial Prize in Economics in 1981 for his analysis of financial markets and specifically for his development of portfolio-selection theory, which describes how investors mitigate risk in their portfolios by selecting some combination of high and low-risk investments. Tobin was a Keynesian economist and his research interests included macroeconomics and monetary and fiscal policy.

Explaining 'James Tobin'

Tobin earned his Ph.D. in economics from Harvard and taught economics at Yale from 1950 to 1988. Among his other accomplishments, he won the John Bates Clark medal and worked as an economic advisor to President Kennedy. Tobin was born in Illinois in 1918 and died in 2002.


Further Reading


World finance and economic stability
ideas.repec.org [PDF]
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 …

A model of US financial and nonfinancial economic behaviorA model of US financial and nonfinancial economic behavior
www.jstor.org [PDF]
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 …

Financial intermediaries and the effectiveness of monetary controlsFinancial intermediaries and the effectiveness of monetary controls
www.jstor.org [PDF]
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 …

Money and finance in the macroeconomic processMoney and finance in the macroeconomic process
www.jstor.org [PDF]
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 …

Two cases for sand in the wheels of international financeTwo cases for sand in the wheels of international finance
www.jstor.org [PDF]
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 …

Financial globalizationFinancial globalization
www.sciencedirect.com [PDF]
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 …



Q&A About James Tobin


What did he suggest in the field of economics?

He suggested 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.

What did he believe governments should do?

He believed that governments should intervene in the economy to stabilise output and avoid recessions.

When was he born?

He was born on May 30, 1918.

What did Tobin win the Nobel Memorial Prize in Economics for?

For his analysis of financial markets and specifically for his development of portfolio-selection theory, which describes how investors mitigate risk in their portfolios by selecting some combination of high and low-risk investments.

Who was James Tobin?

An American economist who won the Nobel Memorial Prize in Economics in 1981 for his analysis of financial markets and specifically for his development of portfolio-selection theory, which describes how investors mitigate risk in their portfolios by selecting some combination of high and low-risk investments.

What were some accomplishments that Tobin had?

Some accomplishments include winning the John Bates Clark medal and working as an economic advisor to President Kennedy.

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