Essays in economics : theory and policy / James Tobin.

Part I. Monetary theory and policy, 1 -- 1. Monetary Policies and the Economy: The Transmission Mechanism, 3 -- 2 Monetary Policy, Inftation, and Unemployment, 14 -- 3. Monetary Policy in 1974 and Beyond, 32 -- 4. Asset Markets and the Cost of Capital (with William C. Brainard), 46 -- 5. Keynesian Models of Recession and Depression, 74 -- 6. How Dead is Keynes?, 82 -- 7. Money and Permanent Income: Some Empirical Tests (with Craig Swan), 92 -- 8. Friedman's Theoretical Framework, 103 -- 9. Long-Run Effects of Fiscal and Monetary Policy on Aggregate Demand (with Willem Buiter), 116 -- Part II. Macroeconomic fiscal policies and economic growth, 159 -- 10. Deficit Spending and Crowding Out in Shorter and Longer Runs, 161 -- 11. Fiscal and Monetary Policies, Capital Formation, and Economic Activity (with Willem Buiter), 181 -- 12. The Burden of the Public Debt: A Review Article, 260 -- 13. Macroeconomic Effects of Selective Public Employment and Wage Subsidies (with Martin Neil Baily), 264 -- 14. Reflections Inspired by Proposed Constitutional Restrictions on Fiscal Policy, 295 -- 15. Technological Development and Employment, 322 -- 16. Notes on the Economic Theory of Expulsion and Expropriation, 348 -- 17. Is Growth Obsolete? (with Williarn D. Nordhaus), 360 -- Part III. International monetary economics, 451 -- 18. Adjustment Responsibilities of Surplus and Deficit Countries, 453 -- 19. The Short-Run Macroeconomics of Floating Exchange Rates: An Exposition (with Jorge Braga de Macedo), 464 -- 20. A Proposal for International Monetary Reform, 488 -- Part IV. Welfare and inequality, 495 -- 21. On Improving the Economic Status of the Negro, 497 -- 22. Is a Negative Income Tax Practical? (with Joseph A. Pechman and Peter M. Mieszkowski), 518 -- 23. Raising the Incomes of the Poor, 545 -- 24. Tax Reform and Income Redistribution: Issues and Alternatives (with William Brainard, John B. Shoven, and Jererny Bulow), 585 -- 25. On Limiting the Domain of Inequality, 610 -- Part V. Economists, 625 -- 26. Alvin Hansen, 627 -- 27. Kermit Gordon, 633 -- 28. Paul Douglas, 641 -- 29. Harry Gordon Johnson, 647 -- 30. Milton Friedman, 663 -- 31. John Kenneth Galbraith, 667 -- Index, 681.