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- Franco Modigliani was a Nobel Prize-winning Italian economist highly regarded for his contributions to economics. His life-cycle consumption theory explained how people borrow, spend, and save during different stages of their lives.
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Franco Modigliani (18 June 1918 – 25 September 2003) [1] was an Italian-American economist and the recipient of the 1985 Nobel Memorial Prize in Economics. He was a professor at University of Illinois at Urbana–Champaign, Carnegie Mellon University, and MIT Sloan School of Management.
- Early Life and Education
- Notable Accomplishments
- The Bottom Line
Franco Modigliani was born on June 18, 1918, in Rome, Italy to a physician father and social worker mother.When Franco was 13, his father passed away from complications from surgery. For a few years following his father's death, he struggled to excel academically. However, after changing high schools, he thrived, graduating early to attend the Sapi...
Modigliani’s early contributions were in the field of socialism and centrally-planned economies, for which he was given an award by Italian fascist dictator Benito Mussolini. His most notable contributions to economics include his life-cycle consumption theory and the Modigliani-Miller Theorem of corporate finance. He also made important contributi...
Franco Modigliani was a Nobel Prize-winning Italian economist highly regarded for his contributions to economics. His life-cycle consumption theory explained how people borrow, spend, and save during different stages of their lives. The Modigliani-Miller Theorem, co-developed with Merton Miller, argues that a firm's value is not affected by its equ...
Sep 21, 2024 · Franco Modigliani (born June 18, 1918, Rome, Italy—died September 25, 2003, Cambridge, Massachusetts, U.S.) was an Italian-born American economist and educator who received the Nobel Prize for Economics in 1985 for his work on household savings and the dynamics of financial markets.
Franco Modigliani was awarded the Economic Sciences Prize for his pioneering research in several fields of economic theory that had practical applications. One of these was his analysis of personal savings, termed the life-cycle theory, which proved useful in predicting the future effects of various pension plans.
May 17, 2018 · American economist Franco Modigliani (1918–2003) won the Nobel Prize for Economics in 1985 for a career that began in his native Italy when he won a prize for an economics essay during his second year at the University of Rome.
Oct 2, 2003 · Franco Modigliani, an economist at the Massachusetts Institute of Technology, had returned to the country of his birth to take part in a televised debate, urging unpopular reforms.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1985 was awarded to Franco Modigliani "for his pioneering analyses of saving and of financial markets"
