About Thomas J. Sargent
Thomas J. Sargent From Wikipedia, the free encyclopedia Thomas J. Sargent New classical macroeconomics Born July 19, 1943 (age 68) Nationality United States Field Macroeconomics, monetary economics Alma mater
UC Berkeley B.A. Harvard University PhD Influences Robert Lucas, Jr. Awards
NAS Award for Scientific Reviewing (2011) Nobel Memorial Prize in Economic Sciences (2011)
Thomas John "Tom" Sargent (born July 19, 1943) is an American economist, specializing in the fields of macroeconomics, monetary economics and time series econometrics. He is one of the leaders of the "rational expectations revolution", which argued that policymakers cannot systematically manipulate the economy through sudden policy changes. The premise of this argument is that actors in the economy will expect future government policy changes. Sargent made important contributions to the theory with his application of new mathematical techniques to econometric models designed to account for such expectations.
Sargent has authored numerous path-breaking papers. Working with Neil Wallace, Sargent developed the saddle path stability characterization of the rational expectations equilibrium. As of 2011, he ranks seventeenth among the most cited economists in the world.
Sargent earned his B.A. from the University of California, Berkeley in 1964, being the University Medalist as Most Distinguished Scholar in Class of 1964, and his Ph.D. from Harvard in 1968. He held teaching positions at the University of Pennsylvania (1970–1971), University of Minnesota (1971–1987), University of Chicago (1991–1998), Stanford University (1998–2002) and Princeton University (2009), and is currently the Berkley Professor of Economics and Business at New York University (since 2002). He is a Fellow of the Econometric Society since 1976. In 1983, Sargent was elected a Fellow of the American Academy of Arts and Sciences. He has been a senior fellow of the Hoover Institution at Stanford University since 1987.
In 2011 Sargent was awarded the NAS Award for Scientific Reviewing from the National Academy of Sciences. On October 10, 2011, Sargent together with Chris Sims was awarded the Nobel Memorial Prize in Economic Sciences. The award cited their "empirical research on cause and effect in the macroeconomy".   Selected publications
Sargent, Thomas J. (1971). "A Note on the Accelerationist Controversy". Journal of Money, Credit and Banking (Blackwell Publishing) 3 (3): 721–25. doi:10.2307/1991369. JSTOR 1991369. Sargent, Thomas J. and Neil Wallace (1973). "The Stability of Models of Money and Growth with Perfect Foresight". Econometrica (The Econometric Society) 41 (6): 1043–48. doi:10.2307/1914034. JSTOR 1914034. Sargent, Thomas J. (1979, 1987). Macroeconomic Theory. New York: Academic Press. ISBN 0-126-19750-4. Sargent, Thomas J. and Lars P. Hansen (1980). "Formulating and Estimating Dynamic Linear Rational Expectations Models". Journal of Economic Dynamics and Control 2 (1): 7–46. doi:10.1016/0165-1889(80)90049-4. Sargent, Thomas J. and Neil Wallace (1981). "Some Unpleasant Monetarist Arithmetic". Federal Reserve Bank of Minneapolis Quarterly Review 5 (3): 1–17. Sargent, Thomas J. (1983). “The Ends of Four Big Inflations” in: Inflation: Causes and Effects, ed. by Robert E. Hall, University of Chicago Press, for the NBER, 1983, p. 41–97. Sargent, Thomas J. (1987). Dynamic Macroeconomic Theory. Harvard University Press. ISBN 0-674-21877-9. Sargent, Thomas J. and Albert Marcet (1989). "Convergence of Least Squares Learning Mechanisms in Self-Referential Linear Stochastic Models". Journal of Economic Theory 48 (2). Sargent, Thomas J. and Albert Marcet (1989). "Convergence of Least Squares Learning in Environments with Hidden State Variables and Private Information". Journal of Political Economy 97 (6): 251. doi:10.1086/261603. Sargent, Thomas J. and Lars Ljungqvist (2000, 2004). Recursive Macroeconomic Theory. MIT Press. ISBN 0-262-12274-X. Sargent, Thomas J. and Lars Hansen (2001). "Robust Control and Model Uncertainty". American Economic Review 91 (2): 60–66. doi:10.1257/aer.91.2.60.
^ http://www.minneapolisfed.org/publications_papers/pub_display.cfm?id=4526 Interview with Thomas Sargent August 26 2010 ^ http://ideas.repec.org/top/top.person.all.html IDEAS/RePEc ^ "Book of Members, 1780-2010: Chapter A". American Academy of Arts and Sciences. Retrieved 22 April 2011. ^ "NAS Award for Scientific Reviewing". National Academy of Sciences. Retrieved 27 February 2011. ^ http://www.nobelprize.org/nobel_prizes/economics/laureates/2011/ Nobel Prize in Economics 2011
 External links
Homepage at the New York University website