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endowment insurance (G2)<br />A form of insurance which provides for a fixed sum of money to be paid on a specified date, or at death.
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Modigliani, Franco, 1918- (B3)<br />Italian-born US economist who was educated at the University of Rome and the New School for Social Research. In his early career, he taught at the University of Illinois, Carnegie Institute of Technology and Northwestern University. From 1962 he has been a professor at the Massachusetts Institute of Technology. A major aspect of his work has been to relate coRPORATE FINANCE to MACROECONOMICS, making it possible to see the impact of business finance on real variables. All students of economics are aware of his life-cycle approach to the ffiNSUMPTION FUNCTION. He was awarded the NOBEL PRIZE FOR ECONOMICS in 1985 <br /><em>Reference</em><br />Modigliani, F. (1980-9) The Collected Works of Franco Modigliani, 3 vols, Cambridge, MA, and London: MIT Press.
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