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Price Flexibility and the Stability of Full-Employment Equilibrium

In: Monetary Theory and Thought

Author

Listed:
  • James Tobin

Abstract

It is a pleasure and a privilege to be here celebrating the coming of age of Don Patinkin. We wish him many more years of activity as a model economist — theorizing, teaching, and applying. We wish for ourselves many more years of his wisdom, leadership and friendship. For almost half a century Don and I have followed parallel paths, trying to figure out the basic puzzles of macroeconomics and monetary theory. We have not been colleagues, or rivals. We have been friends with respect for one another. We have identified the same central issues, although we have not always resolved them alike.

Suggested Citation

  • James Tobin, 1993. "Price Flexibility and the Stability of Full-Employment Equilibrium," Palgrave Macmillan Books, in: Haim Barkai & Stanley Fischer & Nissan Liviatan (ed.), Monetary Theory and Thought, chapter 4, pages 55-73, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12535-7_4
    DOI: 10.1007/978-1-349-12535-7_4
    as

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