The collected papers of Franco Modigliani / edited by Andrew Abel.

VOLUME I -- Essays in Macroeconomics -- Preface, ix -- Introduction, xi -- Part I. The monetary mechanism, 3 -- 1. The monetarist controversy or, should we forsake stabilization policies?, 3 -- 2. Liquidity preference and the theory of interest and money, 23 -- 3. The monetary mechanism and its interaction with real phenomena, 69 -- 4. Liquidity preference, 98 -- 5. The channels of monetary policy in the Federal Reserve-MIT-University of Pennsylvania econometric model of the United States, -- 6. Impacts of fiscal actions on aggregate income and the monetarist controversy: theory and evidence, -- Part II. The demand and supply of money and other deposits, 171 -- 7. Central Bank Policy, the money supply, and the short-term rate of interest, 171 -- 8. The dynamics of portfolio adjustment and the flow of savings through financial intermediaries, 224 -- Part III. The term structure of interest rates, 267 -- 9. Innovations in Interest Rate Policy, 267 -- 10. Debt management and the term structure of interest rates: an empirical analysis, 287 -- 11. Inflation, rational expectations and the term structure of interest rates, 309 -- Part IV. The Determinants of investment, 345 -- 12. On the role of expectations of price and technological change in an investment function, 345 -- Part V. The determinants of wages and prices, 379 -- 13. A generalization of the phillips curve for a developing country, 379 -- 14. New development on the oligopoly front, 400 -- 15. Targets for monetary policy in the coming year, 419 -- Contents of volumes 2 and 3, 443 -- Acknowledgments, 447 -- Name index, 449.

VOLUME 2 -- The life cycle hypothesis of saving -- Preface, ix -- Introduction, xi -- Part I. Antecedent and overview, 3 -- 1. Fluctuations in the saving-income ratio: a problem in economic forecasting, 3 -- 2. The life cycle hypothesis of saving twenty years later, 41 -- Part II. The theory, 79 -- 3. Utility analysis and the consumption function: an interpretation of cross-section data, 79 -- 4. Utility analysis and aggregate consumption functions: an attempt at integration, 128 -- 5. Consumption decisions under uncertainty, 198 -- Part III. Empirical verifications, 229 -- 6. The 'permanent income' and the 'life cycle' hypothesis of saving behavior: comparison and tests, 229 -- 7. The 'life cycle' hypothesis of saving: aggregate implications and tests, 275 -- 8. The consumption function in a developing economy and the Italian experience, 305 -- 9. The life cycle hypothesis of saving, the demand for wealth and the supply of capital, 323 -- 10. The life cycle hypothesis of saving and intercountry differences in the saving ratio, 382 -- Part IV. Policy applications, 415 -- 11. Long-run implications of alternative fiscal policies and the burden of the national debt, 415 -- 12. Monetary policy and consumption: linkages via interest rate and wealth effects in the FMP Model, 442 -- Contents of volumes 1 and 3, 519 -- Acknowledgments, 523 -- Name index, 525.

VOLUME 3 -- The theory of finance and other essays -- Preface, ix -- Introduction, xi -- Part I. Essays in the theory of finance, 3 -- 1. The cost of capital, corporation finance and the theory of investment, 3 -- 2. Dividend policy, growth and the valuation of shares, 40 -- 3. Corporate income taxes and the cost of capital: a correction, 63 -- 4. A theory and test of credit rationing, 74 -- 5. Some economic implications of the indexing of financial assets with special reference to mortgages, 97 -- Part II. Stabilization policies, 127 -- 6. Inflation, balance of payments deficit and their cure through monetary policy: the Italian example, 127 -- 7. The 1974 report of the president's council of economic advisers: a critique of past and prospective policies, 172 -- 8. Monetary policy for the coming quarters: the conflicting views, 186 -- 9. The management of an open economy with "100% plus" wage indexation, 220 -- Part III. Essays in international finance, 263 -- 10. A suggestion for solving the international liquidity problem, 263 -- 11. The reform of the international payments system, 278 -- 12. International capital movements, fixed parities, and monetary and fiscal policies, 305 -- 13. The international transfer of capital and the propagation of domestic disturbances under alternative payment systems, 321 -- 14. Balance of payments implications of the oil crisis and how to handle them through international cooperation, 338 -- Part IV. The role of expectations and plans in economic behavior, 347 -- 15. Production planning over time and the nature of the expectation and planning horizon, 347 -- 16. The role of anticipations and plans in economic behavior and their use in economic analysis and forecasting, 368 -- 17. Forecasting uses of anticipatory data on investment and sales, 426 -- Part V. Miscellaneus, 461 -- 18. The predictability of social events, 461 -- Contents of volumes 1 and 2, 477 -- Acknowledgments, 481 -- Name index, 485.