The consistency of the life-cycle hypothesis with the received theory of consumer choice not only guaranteed its internal consistency, but also provided it with a generality that accounts for much of its durability. The original theory offers a specific account of consumption and saving,
The Collected Papers of Franco Modigliani, Volume 6
Articles and essays by the late Nobel Prize-winning economist on the life-cycle hypothesis, unemployment and monetary policy in the European Union, and oth
The Collected papers of Franco Modigliani - 百度学术
This volume of papers, articles, and essays by the late Nobel Prize-winning economist Franco Modigliani contains writings published during the last decade of his life as well as three seminal earlier papers on the life-cycle hypothesis.
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.
The Life-Cycle Hypothesis | The Collected Papers of Franco Modigliani ...
Franco Modigliani (1918-2003) was Professor Emeritus of Economics and Management at MIT, where he began teaching in 1960. He won the Nobel Prize for Economics in 1985.
Franco Modigliani: A Mind That Never Rests | SpringerLink
Starting with an overview of Modigliani's life, the authors explain and assess his influential theories, including his theory of the life-cycle hypothesis of saving; the famous Modigliani-Miller theorem in corporate finance; stabilisation policy; econometric model building and forecasting, and his legacy and influence on contemporary economics.
Life Cycle, Individual Thrift, and the Wealth of Nations This paper provides a review of the theory of the determinants of individual and na-tional thrift that has come to be known as the Life Cycle Hypothesis (LCH) of saving. Applications to some current policy issues are also discussed. Section I deals with the state of the art on
Franco Modigliani and the life-cycle theory of consumption
2012年4月19日 · In the move from theory to practice two aspects of Modigliani's work are considered: 1) the systemic approach that focuses on the relationship between the short and the long term; 2) the special reference to the mechanism of monetary policy transmission in the use of the macroeconomic model for economic stabilisation policy.
At the origins of the life cycle hypothesis of Franco Modigliani …
2023年7月27日 · This paper re-examines the origins of the Life-Cycle Hypothesis (LCH) originally formulated by Modigliani and Brumberg seventy years ago, using a combination of historical and archival analysis. The study compares Modigliani’s own account of the LCH with a range of other sources, including papers presented at the Conference on Savings in 1952 ...
Franco Modigliani and the Life Cycle Theory of Consumption
2005年4月12日 · In the early 1950s, Franco Modigliani and his student Richard Brumberg worked out a theory of spending based on the idea that people make intelligent choices a