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William C. Brainard | |
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| Born | c. 1935 (age 89–90) |
| Nationality | American |
| Academic background | |
| Alma mater | Yale University |
| Doctoral advisor | James Tobin |
| Academic work | |
| Institutions | Yale University |
William C. "Bill" Brainard (born c. 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]
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