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Encyclopedia > Franco Modigliani

Franco Modigliani (June 18, 1918September 25, 2003) was an Italian-American economist at the MIT Sloan School of Management, and winner of the Nobel Memorial Prize in Economics in 1985. June 18 is the 169th day of the year in the Gregorian Calendar (170th in leap years), with 196 days remaining. ... 1918 (MCMXVIII) was a common year starting on Tuesday of the Gregorian calendar (see link for calendar) or a common year starting on Wednesday of the Julian calendar. ... September 25 is the 268th day of the year (269th in leap years). ... 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... Logo of Sons of Italy, which is the largest Italian American fraternal organization in the United States. ... An economist is an individual who studies, develops, and applies theories and concepts from economics, and writes about economic policy. ... The MIT Sloan School of Management is one of the five schools of the Massachusetts Institute of Technology, located in Cambridge, Massachusetts, USA. It is one of the worlds leading business schools, conducting research and teaching in finance, entrepreneurship, marketing, strategic management, economics, organizational behavior, operations management, supply chain... The Bank of Sweden Prize in Economic Sciences (Swe. ... This article is about the year. ...


Born in Italy, he left Italy for the US in 1939 because of his Jewish background and antifascist views. In 1944 he obtained his Ph.D. from the New School for Social Research working under Jacob Marschak. In 1946, he became a naturalized citizen of the United States. 1939 (MCMXXXIX) was a common year starting on Sunday (link will take you to calendar). ... New School University is an institute of higher learning in New York City. ... Jacob Marschak (* 23 July 1898 Kiev, Ukraine; † 27 July 1977 Los Angeles, USA) was an American economist of Ukrainian origin. ... 1946 (MCMXLVI) was a common year starting on Tuesday. ... Naturalization is the process whereby a person becomes a national of a nation, or a citizen of a country, other than the one of his birth. ...


When he was a professor at the Graduate School of Industrial Administration of Carnegie Mellon University in the 1950s and early 1960s, Modigliani made two path-breaking contributions to economic science: The David A. Tepper School of Business, located at Carnegie Mellon University in Pittsburgh, Pennsylvania, consistently ranks among the top business schools in the world. ... Carnegie Mellon University is a private research university located in Pittsburgh, Pennsylvania. ...

  • Along with Merton Miller, he formulated the important Modigliani-Miller theorem in corporate finance. This demonstrated that under certain assumptions, the value of a firm is not affected by whether it is financed by equity (selling shares) or debt (borrowing money).
  • He was also the originator of the life-cycle hypothesis, which attempts to explain the level of saving in the economy. Modigliani proposed that consumers would aim for a stable level of income throughout their lifetime, for example by saving during their working years and spending during their retirement.

In 1962, he joined the faculty at MIT, where he stayed until his death. Among his students were Nobel laureate Robert Merton, the 1997 winner. Merton Howard Miller (May 16, 1923 - June 3, 2000) won the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 1990, along with Harry Markowitz and William Sharpe. ... The Modigliani-Miller theorem (of Franco Modigliani, Merton Miller) forms the basis for modern thinking on capital structure. ... Corporate finance is a specific area of finance dealing with the financial decisions corporations make and the tools as well as analyses used to make these decisions. ... Economic theories of intertemporal consumption seek to explain peoples preferences in relation to consumption and saving over the course of their life. ... Save might refer to: Save (sport) - to stop a goal or maintain the lead To save a document in computer file management (see also Saving a webpage) The River Save (Zimbabwe), Zimbabwe The River Save (Hungary), Hungary -- joins the Danube just above Belgrade. ... Retirement is the status of a worker who has stopped working. ... This article is about the economist. ...


Modigliani also co-authored the textbooks, "Foundations of Financial Markets and Institutions" and "Capital Markets: Institutions and Instruments" with Frank J. Fabozzi of Yale School of Management. Frank J. Fabozzi is the Frederick Frank Adjunct Professor of Finance at Yale School of Management. ... The Yale School of Management (also known as Yale SOM) is the graduate business school of Yale University and is located on Hillhouse Avenue in New Haven, Connecticut, USA. Yale SOM offers M.B.A. and Ph. ...


Active until the end, Modigliani enlisted fellow Nobel laureates Paul Samuelson and Robert Solow in 2003 to write a letter published in the New York Times chiding the Anti-Defamation League for honoring Italy's prime minister, Silvio Berlusconi. Berlusconi had recently defended Mussolini's conduct toward Jews during World War II. Paul Anthony Samuelson Paul A. Samuelson (born May 15, 1915, in Gary, Indiana) is an American economist known for his work in many fields of economics. ... Robert Merton Solow (born August 23, 1924) is an American economist particularly known for his work on the theory of economic growth. ...


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See also


  Results from FactBites:
 
Nobel laureate Franco Modigliani dies at 85 - MIT News Office (833 words)
The Modigliani Professorship of Financial Economics, an endowed chair, was established in 1995.
Born on June 18, 1918, Modigliani was the son of a pediatrician and a volunteer social worker.
Besides his wife, Modigliani is survived by two sons: Andre, a professor of sociology at the University of Michigan, and Sergio of Brookline, Mass., an architect; four grandchildren and three great-grandchildren.
Franco Modigliani - Wikipedia, the free encyclopedia (348 words)
Franco Modigliani (June 18, 1918 – September 25, 2003) was an Italian-American economist at the MIT Sloan School of Management, and winner of the Nobel Memorial Prize in Economics in 1985.
Modigliani proposed that consumers would aim for a stable level of income throughout their lifetime, for example by saving during their working years and spending during their retirement.
Modigliani also co-authored the textbooks, "Foundations of Financial Markets and Institutions" and "Capital Markets: Institutions and Instruments" with Frank J. Fabozzi of Yale School of Management.
  More results at FactBites »


 

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