The Yale Macroeconomics Paradigm

Thursday, October 31, 2013
Janet Yellen speaking to an audience

When James Tobin joined President John F. Kennedy’s administration in 1961, the U.S. economy was struggling to recover from its third recession in seven years. As a member of Kennedy’s Council of Economic Advisers, the Yale University professor put his theoretical research on asset markets to work in fashioning a novel strategy – nicknamed Operation Twist – to reduce long-term interest rates…. Continue reading on Bloomberg