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James Tobin

SYDNEY, AUSTRALIA - APRIL 30: Media personalities Sally Obermeder and James Tobin watch front row ahead of the Camilla catwalk on day one of Mercedes-Benz Fashion Week Australia Spring/Summer 2012/13 at the Overseas Passenger Terminal on April 30, 2012 in Sydney, Australia.

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About James Tobin

James Tobin (March 5, 1918  – March 11, 2002) was an American economist. Tobin advocated and developed the ideas of Keynesian economics. He believed that governments should intervene in the economy in order to stabilize output and avoid recessions. His academic work included pioneering contributions to the study of investment, monetary and fiscal policy and financial markets. Furthermore, he proposed an econometric model for censored endogenous variables, the well known "Tobit model".

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