{{Short description|American economist}} {{Infobox economist | name = William C. Brainard | image = | image_size = | alt = | caption = | birth_date = {{abbr|c.|circa}} {{birth year and age |1935}} <!-- {{birth date and age|YYYY|MM|DD}} --> | birth_place = | death_date = | death_place = | institution = Yale University <!-- or: | institutions = --> | field = | school_tradition = | alma_mater = Yale University | doctoral_advisor = James Tobin | doctoral_students = | contributions = | awards = }}
'''William C. "Bill" Brainard''' (born {{abbr|c.|circa}} 1935) is an American economist. He is the Arthur Okun Professor Emeritus of Economics at Yale University,<ref>{{cite web|url=http://cowles.econ.yale.edu/faculty/brainard.htm |title=William C. Brainard |publisher=Cowles.econ.yale.edu |date= |accessdate=2013-10-14}}</ref> 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.<ref name="autogenerated1">{{cite web|author= |url=http://news.yale.edu/2008/11/14/chair-pays-tribute-economist-william-brainard-s-leadership |title=YaleNews | Chair Pays Tribute to Economist William Brainard's Leadership |publisher=News.yale.edu |date=2008-11-14 |accessdate=2013-10-14}}</ref> Brainard earned both his economics M.A. (1959) and Ph.D. (1963) at Yale. He has been teaching at Yale since 1962.<ref name="autogenerated1"/>
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"<ref>{{cite journal |last1=Brainard |first1=W. C. |first2=J. |last2=Tobin |year=1968 |title=Pitfalls in Financial Model Building |journal=American Economic Review |volume=58 |issue=2 |pages=99–122 |jstor=1831802 }}</ref> The letter "Q," however, was not introduced until Tobin's 1969 article "A general equilibrium approach to monetary theory."<ref>{{cite journal |last=Tobin |first=J. |year=1969 |title=A General Equilibrium Approach To Monetary Theory |journal=Journal of Money, Credit and Banking |volume=1 |issue=1 |pages=15–29 |doi=10.2307/1991374 |jstor=1991374 }}</ref> So, while references to "Q theory" generally carry only Tobin's name, Brainard and Tobin jointly introduced the concept.<ref>{{cite web|publisher=American Economic Association|title=Biography of William C. Brainard|url=http://www.aeaweb.org/PDF_files/Bios/Brainard_bio.pdf|accessdate=2013-10-14|archive-date=2013-10-13|archive-url=https://web.archive.org/web/20131013174640/http://www.aeaweb.org/PDF_files/Bios/Brainard_bio.pdf|url-status=dead}}</ref> 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.<ref>{{Cite web|url=https://economics.yale.edu/people/william-brainard|title=William Brainard {{!}} Department of Economics|website=economics.yale.edu|language=en|access-date=2019-04-22}}</ref>
== References == {{Reflist|2}}
==External links== * [http://cowles.econ.yale.edu/faculty/brainard.htm Homepage of William C. Brainard]
{{Authority control}}
{{DEFAULTSORT:Brainard, William C.}} Category:1930s births Category:Living people Category:20th-century American economists Category:21st-century American economists Category:Yale University alumni Category:Yale University faculty Category:Fellows of the Econometric Society Category:Distinguished fellows of the American Economic Association Category:Year of birth missing (living people)