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What did Franco Modigliani do?

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He developed a life-cycle theory about the fluctuations in personal savings over an individual's lifetime, which states that people save to spend their money during retirement. He also demonstrated that corporate debt had less affect on how investors value a company than did the company's profitability, and helped devise an economic forecasting model used by the Federal Reserve Bank.

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Get more facts and information about Franco Modigliani from The Columbia Encyclopedia, Sixth Edition at Encyclopedia.com.

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