Thomas J. Sargent Quotes

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

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Thomas J. Sargent Quotes

Type: Economist Quotes Category: American Economist Quotes Date of Birth: July 19, 1943 Nationality: American Find on Amazon: Thomas J. Sargent Related Authors: Milton Friedman Alan Greenspan Thomas Sowell John Kenneth Galbraith Jeffrey Sachs Paul Samuelson Kenneth Joseph Arrow Joseph A. Schumpeter Joseph E. Stiglitz	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