Franco Modigliani

Franco Modigliani (June 18, 1918 – September 25, 2003) was an Italian-American economist at the MIT Sloan School of Management, and winner of The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 1985.

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Born in Italy, he left Italy for the US in 1939 because of his Jewish background and antifascist views. In 1946, he became a naturalized citizen of the United States.

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Modigliani, along with Merton Miller, formulated the important Modigliani-Miller theorem in corporate finance.

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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).

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He was also the originator of the life-cycle hypothesis, which attempts to explain the level of saving in the economy.

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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.

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June 18: June 18 is the 169th day of the year in the Gregorian Calendar (170th in leap years), with 196 days remaining....

1918: 1918 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: September 25 is the 268th day of the year (269th in leap years). There are 97 days remaining....

Franco Modigliani related Images and Photos (experimental)

James Franco	Franco-Prussian Christmas	Modigliani's Women 2012 Wall Calendar	Modigliani's Women 2011 Wall Calendar
Von Franco Eye Gone Wild Model Kit	Amadeo Modigliani 2012 Wall Calendar	Amadeo Modigliani 2011 Wall Calendar	Amedeo Modigliani 2012 Wall Calendar
Franco Harris - Rushing With Ball (B&W)	Francisco Franco Spanish Dictator and Soldier	Episode from the Franco-Prussian War 1875	Fabrizi Franco and Silvana Papanini in "Racconti Romani" by Gianni Franciolini 1955