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
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 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
