Modigliani Anthology

Author: Franco Modigliani (USA)
Publisher:
Publish Date: 2001-04-01
Features: As far as I know, this series of books is the first attempt to systematically publish the important works of all the laureates. The publication of the series itself holds great significance, and its release in China carries an even deeper meaning. I hope its publication will not only contribute to the development of economics but also directly promote the development of China's economy. [Swedish] Nobel Memorial Prize in Economic Sciences Committee — Torsten Persson
The author's research covers the "five volumes" comprehensively, and his field of study is basically within the realm of macroeconomics, particularly focusing on fiscal ( affairs) and financial theory and policy (to some extent, the life cycle hypothesis is a theory of household finance). Therefore, he often provides sound advice and strategies for macroeconomic regulators. However, when considering the application of his theories in practice, they are inevitably limited by socio-economic systems, time horizons, and regional differences. As the author himself said, his research subject is the private capitalist economy. Even so, if his theories were to accurately explain market economy data every time, it would be astonishing even to himself. Thus, when reading his works, we cannot directly apply his theories to our own use. However, his research methodology trilogy can be understood as: ① Finding the microfoundations of macroeconomics; ② Improving econometric methods; ③ The purpose of theoretical research is application. These are very worthy of our reference. This book collects 14 representative papers by Professor Franco Modigliani, the 1985 Nobel Memorial Prize in Economic Sciences laureate, from different periods and fields. For Chinese readers, this is also the first time to gain such a comprehensive and systematic understanding of his works. These papers summarize the author's main research achievements—savings theory, corporate finance, monetary theory, inflation and unemployment issues, etc. Many of the policy implications in these articles still hold considerable relevance to China's macroeconomic policies today. Target Audience: Economics students and teachers, economic theorists, scholars, and researchers.