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A reappraisal of Modigliani's finance theories

Cozzi, Terenzio - In: BNL Quarterly Review 58 (2005) 233-234, pp. 215-235

The paper examines the influence of Modigliani's contributions to the theory of finance. As for the term structure of interest rates, the preferred habitat theory, had a mixed fortune: it was utilized by financial managers for a rather long time, before being discarded in the 1980s and, perhaps,...

Persistent link: https://www.econbiz.de/10010751995

Macroeconomic theory and monetary policy: the contributions of Franco Modigliani and the ongoing debate

Papademos, Lucas - In: BNL Quarterly Review 58 (2005) 233-234, pp. 187-214

The paper reviews some of the most important results of the LCH for understanding individual and aggregate saving behaviour. It then turns to the implications for fiscalpolicy and social security, highlighting Modigliani's seminal contributions. Over time competing theories have emerged, and...

Persistent link: https://www.econbiz.de/10010752465

How much of John Maynard Keynes can we find in Franco Modigliani?

Pasinetti, Luigi L. - In: BNL Quarterly Review 58 (2005) 233-234, pp. 21-39

Franco Modigliani's first published paper became one of the basic documents of modern Keynesian economics. In it he formalized the model (or at least one model) implicit in The General Theory. Modigliani argued that the characteristic Keynesian conclusions rest fundamentally on the (realistic)...

Persistent link: https://www.econbiz.de/10010752474

Franco Modigliani and the life-cycle theory of consumption

Deaton, Angus - In: BNL Quarterly Review 58 (2005) 233-234, pp. 91-107

This paper reviews and discusses the contribution by Franco Modigliani to macroeconomic model building for economist forecasting and policy making. As Paul Samuelson observed, Modigliani's theoretical work was fundamental in the development of the basic framework within which the "post-Keynesian...

Persistent link: https://www.econbiz.de/10010752480

Franco Modigliani and oligopoly

Labini, Paolo Sylos - In: BNL Quarterly Review 58 (2005) 233-234, pp. 41-48

Modigliani became interested in Keynes's General Theory even before knowing anything about economics. After becoming a … Keynes's General Theory that in Modigliani's work cannot be found. In this lecture, it is shown that his pursuit of the task … the loss of Keynes's genuine revolutionary ideas. The author argues--with some personal recollections--that Keynes …

Persistent link: https://www.econbiz.de/10010752481

Modigliani and Keynes

Solow, Robert M. - In: BNL Quarterly Review 58 (2005) 233-234, pp. 11-19

The first article published by Franco Modigliani has become one of the basic texts of the modern Keynesian economics. It formalized the model (or at least one model) implicit in the General Theory. Modigliani argued that the characteristics Keynesian conclusions are based primarily on the...

Persistent link: https://www.econbiz.de/10010752488

Modigliani's life-cycle theory of savings fifty years later

Baranzini, Mauro - In: BNL Quarterly Review 58 (2005) 233-234, pp. 109-172

In the 1950s, Modigliani proposed a theory of spending in which people make intelligent choices about their spending at each age limited by the resources available over their lives. By using assets and debts, working people can provide for their retirement and tailor their spending to their...

Persistent link: https://www.econbiz.de/10010752498

Critique of the neoclassical theory of growth and distribution

Pasinetti, Luigi L. - In: BNL Quarterly Review 53 (2000) 215, pp. 383-431

The paper surveys the main theories of income distribution in their relationship with the theories of economic growth. First, the Classical approach is considered, focusing on the Ricardian theory. Then the neoclassical theory is discussed, highlighting its origins (Bohm-Bawerk, Wicksell, Clark)...

Persistent link: https://www.econbiz.de/10010754196

The future of Post Keynesian economics

Fontana, Giuseppe; Gerrard, Bill - In: BNL Quarterly Review 59 (2006) 236, pp. 49-80

This paper assesses the current state of Post Keynesian economics and attempts to outline a strategy for its future development. It is argued that Post Keynesianeconomists have concentrated in recent years on the important pre-analytical task of searching for a sound methodological foundation...

Persistent link: https://www.econbiz.de/10010658888

The Renaissance of Keynesian Economics

Thirlwall, Anthony Philip - In: BNL Quarterly Review 46 (1993) 186, pp. 327-337

The author summarises the history of recent macroeconomic thought from a Keynesian perspective. He argues that as the two subsequent streams of Monetarism (led by Friedman and Lucas) are slowly losing ground, there is a renewed interest in policy relevant economics with a Keynesian flavour.

Persistent link: https://www.econbiz.de/10010699350