William Brainard Explained

William C. Brainard
Nationality:American
Institutions:-->
Alma Mater:Yale University
Doctoral Advisor:James Tobin

William C. "Bill" Brainard (born 1935) is an American economist. He is the Arthur Okun Professor Emeritus of Economics at Yale University,[1] and he served as the provost of the university from 1981 to 1986. Brainard is the namesake of the William C. Brainard chair, which current Yale provost Ben Polak holds.[2] Brainard earned both his economics M.A. (1959) and Ph.D. (1963) at Yale. He has been teaching at Yale since 1962.[2]

Along with his frequent collaborator James Tobin, Brainard developed the theory of Tobin's q. The concept first appeared in Brainard and Tobin's 1968 article "Pitfalls in Financial Model Building"[3] The letter "Q," however, was not introduced until Tobin's 1969 article "A general equilibrium approach to monetary theory."[4] So, while references to "Q theory" generally carry only Tobin's name, Brainard and Tobin jointly introduced the concept.[5] Brainard was co-editor with George Perry of the Brookings Papers on Economic Activity from 1980 through 2007, and continues to serve on its advisory panel. Brainard's fields of interest are: Microeconomics, microeconomics and macroeconomic theory, monetary theory and policy, market valuation of firms, and models of financial markets.[6]

External links

Notes and References

  1. Web site: William C. Brainard . Cowles.econ.yale.edu . 2013-10-14.
  2. Web site: YaleNews | Chair Pays Tribute to Economist William Brainard's Leadership . News.yale.edu . 2008-11-14 . 2013-10-14.
  3. Brainard . W. C. . J. . Tobin . 1968 . Pitfalls in Financial Model Building . . 58 . 2 . 99–122 . 1831802 .
  4. Tobin . J. . 1969 . A General Equilibrium Approach To Monetary Theory . . 1 . 1 . 15–29 . 10.2307/1991374 . 1991374 .
  5. Web site: American Economic Association. Biography of William C. Brainard. 2013-10-14.
  6. Web site: William Brainard Department of Economics. economics.yale.edu. en. 2019-04-22.