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Thomas J. Sargent

Read through the most famous quotes from 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

#blow #difficult #function #likelihood #made

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

#attended #call #conference #day #expectations

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

— Thomas J. Sargent

#equilibrium #expectations #first #function #likelihood

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

#course #danger #entire #likelihood #models

About Thomas J. Sargent

Thomas J. Sargent Quotes

Did you know about Thomas J. Sargent?

While this institutional differences remained the same over this time period the microeconomic environment for workers changed with a higher risk of human capital depreciation in the 1980s. from Harvard in 1968. and Edward C.

Sims "for their empirical research on cause and effect in the macroeconomy". He was awarded the Nobel Prize in Economics in 2011 together with Christopher A. He is currently a Professor of Economics at New York University.

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