I... set forth and illustrate a general framework for monetary analysis. It is not... new... but... shared... in spirit with many monetary economists. My purpose... is exposition and recapitulation.

p. 15. Ref: Tobin & William Brainard, "Financial Intermediaries and the Effectiveness of Monetary Controls," American Economic Review, 53 (May, 1963) pp. 383-400; Brainard, "Financial Intermediaries and a Theory of Monetary Control," Yale Economic Essays, 4 (Fall, 1964), pp. 431 482. These papers are reprinted as Ch. 3 & 4, Financial Markets and Economic Activity (1967) ed. Hester and Tobin.