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AN INTERVIEW WITH THOMAS J. SARGENT

Published online by Cambridge University Press:  25 October 2005

George W. Evans  and
Seppo Honkapohja
George W. Evans
Affiliation:
Department of Economics, University of Oregon
Seppo Honkapohja
Affiliation:
Faculty of Economics, University of Cambridge
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Extract

The rational expectations hypothesis swept through macroeconomics during the 1970s and permanently altered the landscape. It remains the prevailing paradigm in macroeconomics, and rational expectations is routinely used as the standard solution concept in both theoretical and applied macroeconomic modelling. The rational expectations hypothesis was initially formulated by John F. Muth Jr. in the early 1960s. Together with Robert Lucas Jr., Thomas (Tom) Sargent pioneered the rational expectations revolution in macroeconomics in the 1970s.

Keywords

Rational ExpectationsCross-Equation RestrictionsLearningModel MisspecificationAdaptationRobustness
Type
MD INTERVIEW
Information
Macroeconomic Dynamics , Volume 9 , Issue 4 , September 2005 , pp. 561 - 583
Copyright
© 2005 Cambridge University Press

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