Macroeconomic Dynamics

Table of Contents - 2005 - Volume 9, Issue 04  


MD INTERVIEW

AN INTERVIEW WITH THOMAS J. SARGENT

George W. Evans a1c1 and Seppo Honkapohja a2
a1 Department of Economics, University of Oregon
a2 Faculty of Economics, University of Cambridge

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.


Key Words: Rational Expectations; Cross-Equation Restrictions; Learning; Model Misspecification; Adaptation; Robustness.

Correspondence:
c1 Correspondence to: Professor George W. Evans, Department of Economics, 1285 University of Oregon, Eugene, OR 97403-1285, USA; e-mail: gevans@uoregon.edu.