James Tobin was renowned as an economist of great distinction. Moreover, his students and colleagues witnessed dimensions of his personality and behavior often unknown to others. Up close, Tobin was a memorable figure who made lasting impressions on those he taught and influenced. This article describes Tobin close up, in the words of his students who became professional economists. Rather than focusing on his research, these stories instead present Tobin the teacher, both inside and out of the classroom, Tobin the person, and Tobin the friend and mentor, painting a picture of a remarkable personality. Exchange rates fluctuate very rapidly, in comparison to the prices of goods and labor. An internationally uniform tax on all spot conversions of one currency into another would reduce these fluctuations. Foreign exchange markets focus strongly on the short run, but this tax would reduce these fluctuations by increasing the cost of such transactions. It throws some sand in the wheels of short-term speculation while increasing the relative advantage of longer-term international investment flows.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Volume (Year): 29 (2003) Issue (Month): 4 (Fall) Pages: 499-518 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF
Contact details of provider: Postal: c/o Iona College, 715 North Avenue, New Rochelle, New York 10801-1890 USA Phone: (914) 633-2088 Fax: (914) 633-2549 Email: Web page: http://www.iona.edu/eea/ More information through EDIRC