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 Copy Share Image
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… — Thomas J. Sargent Copy Share Image
The first and most optimistic response was complete rational expectations econometrics. A rational expectations equilibrium is a likelihood function. Maximize it. — Thomas J. Sargent Copy Share Image
There was a danger that skeptics and opponents would misread those likelihood ratio tests as rejections of an entire class of models, which of… — Thomas J. Sargent Copy Share Image
In the 1980s, there were occasions when it made sense to say, 'it is too difficult to maximize the likelihood function, and besides if… — Thomas J. Sargent Copy Share Image
Lucas attended a conference on rational expectations at the University of Minnesota in the spring of 1973. The day after the conference, I received… — Thomas J. Sargent Copy Share Image
I think you've got to watch out for anybody in high school who says he wants to become an economist. — Thomas J. Sargent Copy Share Image
Keynes was a very good economist. He was brilliant. He had wonderful insights. His work has inspired me many times. — Thomas J. Sargent Copy Share Image
When I was a graduate student, estimating and interpreting distributed lags topped the agenda of macroeconomists and other applied economists. — Thomas J. Sargent Copy Share Image
