Quotes by Thomas J. Sargent

About Thomas J. Sargent:

Thomas John "Tom" Sargent is an American economist, specializing in the fields of macroeconomics, monetary economics and time series econometrics. As of 2014, he ranks fourteenth among the most cited economists in the world. He was awarded the Nobel Prize in Economics in 2011 together with Christopher A. Sims "for their empirical research on cause and effect in the macroeconomy".
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In the 1980s, there were occasions when it made sense to say, 'it is too difficult to maximize the likelihood function, and besides if we do, it will blow our model out of the water.'

Thomas J. Sargent

There was a danger that skeptics and opponents would misread those likelihood ratio tests as rejections of an entire class of models, which of course they were not.

Thomas J. Sargent

The first and most optimistic response was complete rational expectations econometrics. A rational expectations equilibrium is a likelihood function. Maximize it.

Thomas J. Sargent

Lucas attended a conference on rational expectations at the University of Minnesota in the spring of 1973. The day after the conference, I received a call from Pittsburgh.

Thomas J. Sargent

I think you've got to watch out for anybody in high school who says he wants to become an economist.

Thomas J. Sargent

What I really don't like is oversimplification.

Thomas J. Sargent

I'm happy to say I am a Harrison-Kreps-Keynesian.

Thomas J. Sargent

Keynes was a very good economist. He was brilliant. He had wonderful insights. His work has inspired me many times.

Thomas J. Sargent

I wasn't the brightest kid, not by a long shot. I was interested in football, in girls, in getting my work done with the least amount of effort.

Thomas J. Sargent

Author Bio

  • NameThomas J. Sargent
  • DescriptionAmerican economist
  • BornJuly 19, 1943
  • CountryUnited States Of America
  • ProfessionEconomist
  • AwardsNobel Memorial Prize In Economic Sciences