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Merton Howard Miller (May 16, 1923 – June 3, 2000) was an American economist, and the co-author of the Modigliani–Miller theorem (1958), which proposed the irrelevance of debt-equity structure. He shared the Nobel Memorial Prize in Economic Sciences in 1990, along with Harry Markowitz and William F. Sharpe .
The Modigliani–Miller theorem (of Franco Modigliani, Merton Miller) is an influential element of economic theory; it forms the basis for modern thinking on capital structure. [1] The basic theorem states that in the absence of taxes , bankruptcy costs, agency costs , and asymmetric information , and in an efficient market , the enterprise ...
The rational expectations hypothesis is considered by economists [11] to originate in the [12] paper written by Modigliani and Emile Grunberg in 1954. [13] [14] When he was a member of the Carnegie Mellon University faculty, he formulated in 1958, along with Merton Miller, the Modigliani–Miller theorem for corporate finance.
Modigliani–Miller theorem, an influential element of economic theory Modigliani risk-adjusted performance , a measure of risk-adjusted performance in economics Topics referred to by the same term
The Chevrolet Parkwood was a station wagon built by Chevrolet from 1959 to 1961. As the station wagon equivalent of the Bel Air passenger car series, it represented the middle member of the Chevrolet station wagon lineup of those years, above the lowest-priced Brookwood models, but below the luxury-leader Nomad .
As he stated, all the models, except the Ando/Modigliani ones, showed monetary policy to have a multiplier above 1, and in every case to be larger than the fiscal multiplier. His study, which included a model "improving" the St Louis equation, supported the view that monetary policy is strongly correlated with spending but also found that ...
It is best known for its commercials, featuring an adaptation of See the USA in Your Chevrolet. Originally Ellis Brooks Chevrolet, the company later became "Auto Center" after it began marketing other brands of automobile. [1] [2] The company is now located at 1565 Bush Street, [3] but the original Ellis Brooks sign is still used. [4]
The 1955 show dates were New York (January 20–25), Miami (February 5–13), Los Angeles (March 5–13), San Francisco (March 26 to April 3), Boston (April 23 to May 1). Exhibited at these venues were the Buick Wildcat III, Chevrolet Biscayne, Pontiac Strato Star, Oldsmobile 88 Delta, LaSalle II roadster and sedan, and Cadillac Eldorado Brougham.