Landmark Papers in Macroeconomics Selected by James Tobin

Edited by the late James Tobin, formerly Sterling Professor Emeritus of Economics, Yale University, US and Nobel Laureate in Economics 1981

• Contents:AcknowledgementsPreface Mark Blaug1. Kenneth J. Arrow (1962), ‘The Economic Implications of Learning by Doing’2. Robert J. Barro (1974), ‘Are Government Bonds Net Wealth?’3. William J. Baumol (1952), ‘The Transactions Demand for Cash: An Inventory Theoretic Approach’4. William Brainard (1967), ‘Uncertainty and the Effectiveness of Policy’5. David Cass and Menahem E. Yaari (1966), ‘A Re-examination of the Pure Consumption Loans Model’6. Dudley Dillard (1988), ‘The Barter Illusion in Classical and Neoclassical Economics’7. Milton Friedman (1968), ‘The Role of Monetary Policy’8. J.R. Hicks (1935), ‘A Suggestion for Simplifying the Theory of Money’9. J.R. Hicks (1937), ‘Mr Keynes and the "Classics"; A Suggested Interpretation’10. J. Hirshleifer (1966), ‘Investment Decision Under Uncertainty: Applications of the State-Preference Approach’11. Nicholas Kaldor (1940), ‘A Model of the Trade Cycle’12. Tjalling C. Koopmans (1965), ‘On the Concept of Optimal Economic Growth’13. John Lintner (1965), ‘The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets’14. Richard G. Lipsey (1960), ‘The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1862–1957: A Further Analysis’15. Robert E. Lucas, Jr. (1976), ‘Econometric Policy Evaluation: A Critique’16. Harry Markowitz (1952), ‘Portfolio Selection’17. Lloyd A. Metzler (1951), ‘Wealth, Saving, and the Rate of Interest’18. Merton H. Miller and Daniel Orr (1966), ‘A Model of the Demand for Money by Firms’19. Franco Modigliani and Merton H. Miller (1958), ‘The Cost of Capital, Corporation Finance and the Theory of Investment’20. Franco Modigliani (1964), ‘Long-run Implications of Alternative Fiscal Policies and the Burden of the National Debt’21. R.A. Mundell (1963), ‘Capital Mobility and Stabilization Policy under Fixed and Flexible Exchange Rates’22. Robert A. Mundell (1962), ‘The Appropriate Use of Monetary and Fiscal Policy for Internal and External Stability’23. Arthur M. Okun (1980), ‘Rational-Expectations-with-Misperceptions as a Theory of the Business Cycle’24. Don Patinkin (1948), ‘Price Flexibility and Full Employment’25. Edmund Phelps (1961), ‘The Golden Rule of Accumulation: A Fable for Growthmen’26. Edmund S. Phelps (1972), ‘Efficiency and Distributional Aspects of Anticipated Inflation’27. A.W. Phillips (1958), ‘The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957’28. A.C. Pigou (1947), ‘Economic Progress in a Stable Environment’29. William Poole (1970), ‘Optimal Choice of Monetary Policy Instruments in a Simple Stochastic Macro Model’30. Paul A. Samuelson (1958), ‘An Exact Consumption–Loan Model of Interest With or Without the Social Contrivance of Money’31. Robert M. Solow (1962), ‘Technical Progress, Capital Formation, and Economic Growth’32. John B. Taylor (1980), ‘Aggregate Dynamics and Staggered Contracts’Name Index