Demonstrates his autonomous originality and his breadth in economic research-indeed he was described as a "complete, horizontally and vertically integrated, economic research system". In the chapter by Marc Hayford on the life-cycle model, Modigliani‘s work is regarded as an example of economic science at its best. This model has spawned an incredibly rich empirical legacy which has vastly increased our understanding of saving and consumption.
The chapter by Andrea Micocci shifts our attention away from theory to policy-making in Italy to which Modigliani was actively involved-especially in issues relating to the Euro, the European Union and the role of the Central Bank. It provides a provocative account of Italian politics and the constraints on the economic scientist in the policy realm.
