"For policy, the central fact is that Keynesian policy recommendations have no sounder basis, in a scientific sense, t…"

"An alternative “rational expectations” view denies that there is any inherent momentum in the present process of infl…"

"It is paradoxical that an administration that came to office rejecting the whole apparatus of Keynesian economics fin…"

"My published work is just a record of my learning. I'm sharing it with people so they won't make the same mistakes th…"

"My recollection is that Bob Lucas and Ed Prescott were initially very enthusiastic about rational expectations econom…"

"I remember how happy I felt when I graduated from Berkeley many years ago. But I thought the graduation speeches were…"

"Q: “Professor Sargent, can you tell me what CD rates will be in two years?” Sargent: “No.”"

"Cagan’s adaptive mechanism for explaining expectations of inflation has sometimes been criticized as an ad hoc formul…"

"What policymakers (and econometricians) should recognize, then, is that societies face a meaningful set of choices ab…"

"Tom Sargent is a bit out of touch with the real world up there in his office in Minneapolis. A lot of the disagreemen…"