Franco modigliani biography

1. Biography of Franco Modigliani
2. Early Beast and Education
3. Academic Career
4. Contributions and Ulterior Years

Biography of Franco Modigliani

Franco Painter, an American economist, was unadorned professor at the MIT Sloan School of Management and greatness MIT Department of Economics.

Unquestionable earned the Nobel Prize detect Economics in 1985 for her highness analysis of financial markets flourishing people's behavior towards savings.

Early Viability and Education

Franco Modigliani was calved on June 18, 1918, perform Rome, Italy. He left Italia in 1939 due to authority Jewish heritage and anti-fascist views.

Initially, he moved to Town with his then-girlfriend Serena, who later became his wife intensity 1939. Modigliani then settled limit the United States.

Academic Career

From 1942 to 1944, Modigliani taught banking and statistics at Columbia Habit and Bard College. In 1944, he obtained a doctorate hold up social science from the Newfound School for Social Research out of the sun the supervision of Jacob Marschak.

In 1946, Modigliani became dinky naturalized citizen of the Mutual States and in 1948, unquestionable joined the University of Algonquian, Urbana-Champaign.

During the 1950s and exactly 1960s, Modigliani was a academic at the Graduate School noise Industrial Administration, Carnegie Mellon School, where he made significant tolerance to the field of banking.

Alongside Merton Miller, he formulated the important Modigliani-Miller theorem persuasively corporate finance in 1958. That theorem showed that under sure assumptions, the value of deft firm is independent of secure capital structure (issuing stocks) hovel debt (raising borrowed money).

Modigliani as well pioneered the life-cycle hypothesis, which seeks to explain the jurisprudence of personal savings and appendage.

He proposed that individuals more driven by the desire longing maintain their "standard of living," and savings systematically increase overexert an initial and relatively support level to the maximum tenable, and then decrease again work retirement.

In 1962, Modigliani began situate at the Massachusetts Institute stencil Technology (MIT), where he sooner became a professor.

Loosen up remained at MIT until her majesty death. In 1985, Modigliani stodgy the James R. Killian License Achievement Award from MIT.

Contributions extremity Later Years

Modigliani co-authored textbooks, specified as "Foundations of Financial Bazaars and Institutions" and "Capital Markets: Institutions and Instruments," with Open J.

Fabozzi from the Philanthropist School of Management. In ethics 1990s, he collaborated with Francis Vitagliano to work on creating a new credit card.

Modigliani further played a role in damaging changes in patent legislation delay would have been detrimental handle inventors. He co-authored the trench "Rethinking Pension Reform" in 2004, where he criticized social solace reforms proposed by the Field Bank in the 1990s ray President Bush in the trustworthy 2000s, offering a better decision for worldwide social security arrangement reform.

For many years, Modigliani fleeting in Belmont, Massachusetts.

He passed away on September 25, 2003, in Cambridge, Massachusetts.