...Thus, liquidity preference and the marginal efficiency of capital were both subsumed under a general model of asset holding based on a generalized, if rather empty, notion of imperfect substitutablity among different assets. One of the most mature formulations of this approach is certainly his Nobel lecture: where some readers, although admired by the high degree of generality and full macroeconomic consistency of the scheme, may come to suspect that the recurrently haunting ghost of implicit theorizing has not been altogether exorcized...
James Tobin, an obituary
COSTA, GIACOMO
2002-01-01
Abstract
...Thus, liquidity preference and the marginal efficiency of capital were both subsumed under a general model of asset holding based on a generalized, if rather empty, notion of imperfect substitutablity among different assets. One of the most mature formulations of this approach is certainly his Nobel lecture: where some readers, although admired by the high degree of generality and full macroeconomic consistency of the scheme, may come to suspect that the recurrently haunting ghost of implicit theorizing has not been altogether exorcized...File in questo prodotto:
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