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51th International conference
51 convegno
1918-2018 Franco Modigliani's Legacy in the World Economy
Saturday 23rd of June, 9 a.m., Università degli Studi di Brescia

The I.S.E.O Institute 51st international public conference in the memory of Franco Modigliani was held at the University of Brescia on 23rd of June 2018. The conference, titled “Franco Modigliani’s Legacy in the World Economy” paid a tribute to one of the most renowned and appreciated economists in the world who founded the I.S.E.O Institute in 1998.

Watch the tribute to Franco Modigliani

In 1985 he was the only Italian in history to receive a Nobel Prize in Economic Sciences for his “pioneering analyses of saving and of financial markets”. During his life, Modigliani actively participated in debates on economic policies and labour markets. Even after moving to the United States in 1939, due to the Jewish persecutions, Franco remained an observant critic of the Italian economy. His colleague and friend Paul Samuelson has defined him as “the greatest living economist” and some others as “one of the brightest brains that Hitler offered the United States”. The conference in his honour was led by professor Roberto Savona (University of Brescia) and featured a panel of distinguished speakers: Robert Merton (MIT, Nobel Laureate in Economics 1997, who has been Modigliani's former alumni), Robert Engle (New York University, Nobel Laureate in Economics 2003), Marco Pagano (University of Naples Federico II) and Gianni Amisano (Federal Reserve Board).

The meeting - attended my more then 200 people among the audience - was opened with a letter sent by the president of the Italian Republic, Sergio Mattarella, who highlighted the brilliant and smart work Modigliani has carried out during his life. Also via a video-tribute Robert Shiller, Jean Paul Fitoussi, Olivier Blanchard and Romano Prodi shared their memories of Franco Modigliani. At the conference the topical and carrying themes were the life, the research and the legacy of Franco Modigliani. Professor Robert Merton gave a heart-warming speech about his memories with Franco during their days at the Massachusetts Institute of Technology. Professor Marco Pagano continued the conference with his lecture talking about the Modigliani-Miller theorem as the cornerstone of corporate finance. Professor Robert Engle gave the audience a lecture with the title “Prospects for global financial stability” and the conference was ended with the lecture of Gianni Amisano “Forecasting in an uncertain world: GDP nowcasting and output gap assessment at the Federal Reserve Board”.

If you want to get deeper into the contents of the conference, you can download each speaker's slides here below or consult our section "Press" with all the articles published on several newspapers after the conference. You can also take a look at the pictures of the conference in the photo gallery and watch the entire meeting uploaded on our videogallery.

Downloadable material

- Invito convegno 23 giugno 2018
- Telegramma Presidente della Repubblica Italiana Sergio Mattarella
- Robert Engle slides
- Marco Pagano slides
- Nobel Lecture
- Autobiography by Franco Modigliani
- Press release Royal Swedish Academy
- Banquet speech
- An Economists' Manifesto on Unemployment in the European Union
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