# William Brainard

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{{Short description|American economist}}
{{Infobox economist
| name = William C. Brainard
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| birth_date = {{abbr|c.|circa}} {{birth year and age |1935}} <!-- {{birth date and age|YYYY|MM|DD}} -->
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| institution = [Yale University](/source/Yale_University) <!-- or: | institutions =  -->
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| alma_mater = [Yale University](/source/Yale_University)
| doctoral_advisor = [James Tobin](/source/James_Tobin)
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'''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](/source/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](/source/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 &#124; 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](/source/James_Tobin), Brainard developed the theory of [Tobin's q](/source/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](/source/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](/source/Journal_of_Money%2C_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](/source/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](/source/George_Perry_(American_economist)) of the ''[Brookings Papers on Economic Activity](/source/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]

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{{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)

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Adapted from the Wikipedia article [William Brainard](https://en.wikipedia.org/wiki/William_Brainard) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/William_Brainard?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.