Franco Modigliani's Contributions to Economics
回顾了莫迪利亚尼在凯恩斯经济学、生命周期假说、莫迪利亚尼-米勒定理以及管理科学方面的开创性贡献，适合对宏观经济学和金融理论发展感兴趣的学者。
Franco Modigliani is one of the leaders of postwar macroeconomics who has had a profound influence on the development of Keynesian economics, its empirical testing, and econometric modeling. He has also made important contributions to the theory of finance and to what has become known as management science. His single most important contribution is the life cycle hypothesis of consumption which he developed jointly with R. Brumberg in 1953/54 and which he has worked on ever since. The other important and fundamental contribution is the Modigliani-Miller theorem which marks the beginning of the modern theory of finance. A third important contribution is the early exposition of the basic Keynesian macroeconomic model which is virtually identical to modern textbook expositions of static Keynesian theory. Fourth, Modigliani's work on firms' planning of production, inventories and work force in collaboration with Holt, Muth and Simon is a pathbreaking contribution to management science. Apart from these specific contributions, Modigliani has advanced our understanding and empirical knowledge of the various channels through