Search results
Late in his life, Modigliani became a trustee of the Economists for Peace and Security organization, formerly "Economists Allied for Arms Reduction" [24] and was considered an "influential adviser": in the late 1960s, on a contract with the Federal Reserve, he designed the "MIT-Pennsylvania-Social Science Research Council" model, a tool that "guided monetary policy in Washington for many decades."
FRANCO MODIGLIANI. Sloan School of Management, Massachusetts Institute of Technology, Cam-bridge, MA. Introduction This paper provides a review of the theory of the determinants of individual and national thrift that has come to be known as the Life Cycle Hypothesis (LCH) of saving. Applications to some current policy issues are also discussed.
collaboration around 1950 was that of building, from the received theory of consumer choice. over time à la Fisher, and a minimum set of plausible postulates, a unified model of consumption. and saving behaviour, capable of accounting for, and integrating, all the macro and micro.
- 58KB
- 22
- Privilege Was No Escape
- New School For A New Life
- With Nobel, Criticism For President
- Periodicals
- Online
Modigliani was born on June 18, 1918, in Rome, Italy. His father, Enrico Modigliani, was a prominent pediatrician and his mother, Olga Flaschel Modigliani, was a volunteer social worker. He described himself in his autobiography for the Nobel Prizecommittee as being a "good" student "though not outstanding." When he was 13 his father died unexpecte...
When it was apparent that Modigliani would not be returning to Europe for quite a long time, he enrolled at the New School for Social Research in New York City and was awarded with a free tuition scholarship by the Graduate Faculty of Political and Social Science. The New School had been newly created and provided an academic haven for many Europea...
Modigliani was announced as the recipient of the 1985 Nobel Prize for Economics in October 1985, the 13th American to win the prize since its establishment in 1969. David Warsh of the Boston Globe broke the story on the local honoree that was more than simply one expressing Modigliani's pleasure in receiving the nod. "After receiving news of the aw...
Boston Globe,October 16, 1985; December 5, 1985. CFO, The Magazine for Senior Financial Executives,November 2003. Economist,October 4, 2003. The Guardian,October 1, 2003. MIT News,September 25, 2003. Science,November 7, 1986.
" Adventures of an Economist, by Franco Modigliani," Texere Publishing website,http://www.etexere.com(January 16, 2004). "Dining With Nobel Laureate Franco Modigliani," Massachusetts Institute of Technology (MIT) News website,http://www-tech.mit.edu(January 16, 2004). "Franco Modigliani," New School for Social Research website,http://cepa.newschool...
The Life-Cycle Theory, proposed by Modigliani, is an analysis of personal savings trends used to predict future effects of pension plans. It suggests that individuals aim to maintain a stable level of consumption throughout their lives by adjusting their saving and borrowing behavior, considering factors such as income, age, and expected lifespan.
Dec 11, 2016 · Franco Modigliani died on 25 September 2003 at the age of 85 in Cambridge, Massachusetts. MIT Institute Professor Paul Samuelson, a colleague and friend, said, ‘Franco Modigliani could have been a multiple Nobel winner. When he died he was the greatest living macroeconomist.
People also ask
Did Modigliani believe in a life cycle?
What is the most important scientific contribution of Franco Modigliani?
Why is Modigliani important?
Was Modigliani a good economist?
What is Modigliani's theory?
How did Modigliani change his political philosophy?
Jul 27, 2023 · Moreover, at the end of 1946 Modigliani presented the first version of his 1949 paper at the AEA Conference, whose shorter version was published in Social Research the following year (see Modigliani Citation 1947a). The collaboration between Modigliani and Neisser is also documented by Modigliani’s acknowledgements of Neisser’s support and advice contained in his 1947a and 1949 articles.
