“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.'Quote by Thomas J SargentTopics: Quotes about Thomas J SargentShare on:FacebookPinterestWhatsApp
The first and most optimistic response was complete rational expectations econometrics. A rational expectations equilibrium...#Thomas J Sargent
There was a danger that skeptics and opponents would misread those likelihood ratio tests as...#Thomas J Sargent
Lucas attended a conference on rational expectations at the University of Minnesota in the spring...#Thomas J Sargent
