Youre here: Home » Famous Quotes » Thomas J. Sargent Quotes


» Famous Quotes Home

» Quote Topics

» Author Nationalities

» Author Types

» Popular Searches

 Browse authors:

Thomas J. Sargent Quotes

Page 1 of 1
Thomas J. Sargent
July 19, 1943 -
Nationality: American
Category: Economist
Subcategory: American Economist

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


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.'


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.


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.


Privacy Policy
Copyright © 1999-2008 All rights reserved.