Background
Modigliani, Franco was born on June 18, 1918 in Rome. Arrived in the United States, 1939, naturalized, 1946. Son of Enrico and Olga (Flaschel) Modigliani.
(This 1986 book examines some of the main issues that have...)
This 1986 book examines some of the main issues that have characterized macroeconomics: the debate between 'monetarists' and 'Keynesians'; the response to demand shocks and supply shocks, by which the monetary authorities control aggregrate nominal income and the use and relevance of the money supply as a target; and the consumption function and the determinants of wealth. It shows that Keynesian stabilization policies succeeded in reducing instability due to demand shocks dramatically, but that no aggregrate demand policy can stabilize both price and employment simultaneously after a supply shock. However, by assigning an overall 'social cost' to (excess) unemployment and (initially) unexpected inflation, an optimism path can be derived. In looking at the consumption function and determinants of wealth the empirical evidence is shown to be most consistent with the life-cycle hypothesis. A concluding section is devoted to the impact on private and national society of the 'social security revolution'.
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(4th Edition, printed by Prentice Hall of India. Printing ...)
4th Edition, printed by Prentice Hall of India. Printing is in black and white paper, non glossy. Same content as the hardcover version. Also, known as the Eastern Economy Edition.
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(Publisher: Prentice Hall of IndiaEdition: International T...)
Publisher: Prentice Hall of IndiaEdition: International Third
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(The American dream of home ownership has created the worl...)
The American dream of home ownership has created the world's largest debt market - exceeding the stock and corporate bond markets combined. Mortgage-backed securities, financially engineered products of that debt, represent a unique challenge to professional investors, mortgage originators, bankers, regulators, and financial economists. This book describes the economic forces that molded the mortgage market and evaluates the variety of mortgage designs and the securities created from them. It explains each aspect of contemporary mortgages, the development of the secondary mortgage market, and the characteristics of mortgage-backed securities (passthroughs, collateralized mortgage obligations, and stripped mortgage-backed securities). The text also provides techniques for analyzing and hedging these complex securities.
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( A comprehensive exploration of the world's financial m...)
A comprehensive exploration of the world's financial markets and institutions. Introduction; Financial Institutions, Financial Intermediaries, and Asset Management Firms; Depository Institutions: Activities and Characteristics; The U.S. Federal Reserve and the Creation of Money; Monetary Policy in the United States; Insurance Companies; Investment Companies and Exchange-Traded Funds; Pension Funds; Properties and Pricing of Financial Assets; The Level and Structure of Interest Rates; The Term Structure of Interest Rates; Risk/Return and Asset Pricing Models; Primary Markets and the Underwriting of Securities; Secondary Markets; Treasury and Agency Securities Markets; Municipal Securities Markets; Markets for Common Stock: The Basic Characteristics; Markets for Common Stock: Structure and Organization; Markets for Corporate Senior Instruments: I; Markets for Corporate Senior Instruments: II; The Markets for Bank Obligations; The Residential Mortgage Market; Residential Mortgage-Backed Securities Market; Market for Commercial Mortgage Loans and Commercial Mortgage-Backed Securities; Market for Asset-Backed Securities; Financial Futures Markets; Options Markets; Pricing of Futures and Options Contracts; The Applications of Futures and Options Contracts; OTC Interest Rate Derivatives: Forward Rate Agreements, Swaps, Caps, and Floors; Market for Credit Risk Transfer Vehicles: Credit Derivatives and Collateralized Debt Obligations; The Market for Foreign Exchange and Risk Control Instruments MARKET: Foundations of Financial Markets and Institutions, offers a comprehensive exploration of the revolutionary developments occurring in the world's financial markets and institutions –i.e., innovation, globalization, and deregulation–with a focus on the actual practices of financial institutions, investors, and financial instruments.
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Paperback International Edition
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( This book offers a comprehensive exploration of the re...)
This book offers a comprehensive exploration of the revolutionary developments occurring in the world's financial markets and institutions —i.e., innovation, globalization, and deregulation —with a focus on the actual practices of financial institutions, investors, and financial instruments. KEY TOPICS: Extensive coverage of the markets for derivative securities. Coverage of Depository Institutions is included. For professionals in the field of financial markets.
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(Offering a comprehensive exploration of the revolutionary...)
Offering a comprehensive exploration of the revolutionary developments occuring in the world's financial markets and institutions, this edition looks at innovation, globalization and deregulation - with a focus on the actual practices of financial institutions, investors and financial instruments.
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(Adventures of an Economist is both an autobiography and a...)
Adventures of an Economist is both an autobiography and an uncommon opportunity to share the thinking of one of the world's most brilliant and influential economists. Franco Modigliani takes the reader on a journey from his childhood in Rome through Fascism, his flight from Nazism, and his arrival in the United States.
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Modigliani, Franco was born on June 18, 1918 in Rome. Arrived in the United States, 1939, naturalized, 1946. Son of Enrico and Olga (Flaschel) Modigliani.
D. Jurisprudence, University Rome, 1939. D. Social Science, New School Social Research, 1944. Doctor of Laws (honorary), University Chicago, 1967.
D. honoris causa(honorary), University Louvain, Belgium, 1974. D. honoris causa(honorary), Istituto Universitario di Bergamo, 1979. D. honoris causa(honorary), Hartford University.
Doctor of Humane Letters(honorary), Bard College, 1985. Doctor of Humane Letters(honorary), Brandeis University, 1986. Doctor of Humane Letters(honorary), New School Social Research, 1989.
Doctor of Laws, Michigan State University, 1989. D (honorary), University Illinois, 1990. D (honorary), University Valencia, Spain, 1992.
Doctor in Managerial Engineering(honorary), University Naples, 1998.
Instructor economics and statistics New Jersey College Women, New Brunswick, 1942. Instructor, then associate economics and statistics Bard College, Columbia, 1942—1944. Lecturer, assistant professor mathematics economics and econometrics New School Social Research, 1943—1944, 1946—1948.
Research associate, chief statistician Institute World Affairs, New York City, 1945—1948. Research consultant Cowles Commission Research in Economics University Chicago, 1949—1954. Associate professor, then professor economics University Illinois, 1949—1952.
Professor economics and industrial administration Carnegie Institute of Technology, 1952—1960. Visiting professor economics Harvard University, 1957—1958. Professor economics Northwestern University, 1960—1962.
Visiting professor economics Massachusetts Institute of Technology, 1960—1961, professor economics and finance, 1962—1988, Institute professor, 1970—1988, Institute professor emeritus, 1988—2003. Fellow political economy University Chicago, 1948. Fulbright lecturer University Rome, also, Palermo, Italy, 1955.
President, Econometric Society, 1962, American Economic Association, 1976, American Finance Association, 1981. Academic Consultant, Board Governors, Federal Reserve System, since 1966. Senior Adviser, Brookings Panel Economics Activity, since 1971.
Member, National Academy of Sciences, USA, since 1973. Vice-President, Honorary President, International Economie Association, 1976-1981,1983;Nobel Prize, 1985.
(This 1986 book examines some of the main issues that have...)
(Offering a comprehensive exploration of the revolutionary...)
(Adventures of an Economist is both an autobiography and a...)
( This book offers a comprehensive exploration of the re...)
(The American dream of home ownership has created the worl...)
( A comprehensive exploration of the world's financial m...)
(Publisher: Prentice Hall of IndiaEdition: International T...)
(4th Edition, printed by Prentice Hall of India. Printing ...)
(Paperback International Edition)
(BRAND NEW)
Author: The Debate Over Stabilization Policy, 1986, Il Caso Italia, 1986, The Collected Papers of Franco Modigliani, 3 vols., 1980, The Collected Papers of Franco Modigliani, 4th and 5th vols., 1989.Co-author: National Incomes and International Trade, 1953, Planning Production Inventories and Work Forces, 1960, The Role of Anticipations and Plans in Economic Behavior and Their Use in Economic Analysis and Forecasting, 1961, New Mortgage Designs for Stable Housing in an Inflationary Environment, 1975. Co-author: (with Frank J. Fabozzi) Capital Markets: Institutions and Instruments, 1991, Mortgage and Mortgage-Backed Security Markets, 1992. Co-author: (with Frank J. Fabozzi, Michael G. Ferri) Foundations of Financial Markets and Institutions, 1994.Co-author: Le Avventure di un Economista: Mia Vita, Le Mie Idee, La Nostra Epoca, 1999, (English edition) Adventures of an Economist, 2001.
Contributed to clarifying the relation between the Keynesian ‘revolution’, classical economics and monetarism, and implication for monetary and fiscal stabilisation policies. Had major responsibility for building model of United States economy (MPS) for Federal Reserve System. Originated the life-cycle hypothesis of saving which has found wide applications in the study of family and national saving.
Author (with M. Miller) of two theorems basic to modern finance to the effect that under efficient, rational markets, and abstracting from tax effects, the market value of a firm and its costs of capital are independent of both the debt-equity ratio and the dividend-payout ratio.
Fellow: National Academy of Sciences, International Economic Association (vice president 1977-1983, honorary president 1983—2003), American Academy Arts and Sciences, American Economic Association (vice president 1971, president 1976), Econometric Society (council 1960, vice president 1961, president 1962). Member: Shadow Finance Regulatory Committee, Accademia Nazionale dei Lincei (Rome), Boston Security Analysts Society (honorary), American Finance Association (president 1981).
Sailing, swimming, skiing, tennis.
Married Serena Calabi, May 22, 1939. Children: Andre, Sergio.
