This man theorized that a firm's market value divided by its replacement cost gives a ratio indicating whether the firm should be invested in.
Heckman extended a model that this economist proposed for deriving a linear relationship between an observed independent variable and an unobserved dependent variable; that censored regression model is derived from the probit model. This Nobel laureate created a transactions model that relates "the square root of spending over interest rate" to the demand for money; that model is co-named for Baumol. This man theorized that a firm's market value divided by its replacement cost gives a ratio indicating whether the firm should be invested in. This developer of the "Q" ratio argued that floating exchange rates are not sufficient for preventing harmful currency speculation. For 10 points, name this Yale economist and 1981 Nobel laureate, who proposed a namesake tax on currency exchanges.
Heckman extended a model that this economist proposed for deriving a linear relationship between an observed independent variable and an unobserved dependent variable; that censored regression model is derived from the probit model.
James Tobin