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Franco Modigliani (1918-2003) was an Italian and American economist who was born in Rome, Italy, and later became a United States citizen. Modigliani was educated at The New School for Social Research and had a significant academic influence on his doctoral students, including well-known economists such as Robert J. Shiller, John Muth, and Mario Draghi.
Throughout his career, Modigliani was primarily focused on the academic disciplines of economics and finance. He is best known for his contributions to the Modigliani-Miller theorem, the life-cycle hypothesis, and the MPS model.
Modigliani's work was widely recognized, earning him the prestigious 1985 Nobel Memorial Prize in Economic Sciences. He passed away in 2003 in Cambridge, Massachusetts.
