Thomas J. Sargent Quotes

"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
(Related: Day, Expectations, Spring, University)

"The first and most optimistic response was complete rational expectations econometrics. A rational expectations equilibrium is a likelihood function. Maximize it."
- Thomas J. Sargent
(Related: Expectations, First)

"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
(Related: Class, Danger, Opponents, Tests)