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Thomas J. Sargent Quotes
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Type: Economist Quotes Category: American Economist Quotes Date of Birth: July 19, 1943 Nationality: American Find on Amazon: Thomas J. Sargent Related Authors: John Kenneth Galbraith Thomas Sowell Jeremy Rifkin Martin Feldstein Milton Friedman John W. Snow Jeffrey Sachs Douglass North |
Creating dynamic equilibrium macro theories and building a time series econometrics suitable for estimating them were both big tasks.
Thomas J. Sargent 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 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 The first and most optimistic response was complete rational expectations econometrics. A rational expectations equilibrium is a likelihood function. Maximize it. 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 When I was a graduate student, estimating and interpreting distributed lags topped the agenda of macroeconomists and other applied economists. Thomas J. Sargent |
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