Thomas J. Sargent

Thomas John Sargent ( born July 19, 1943 in Pasadena, California) is an American economist. In 2011 he was awarded the Prize in Economic Sciences the Bank of Sweden in memory of Alfred Nobel. He received the award along with Christopher Sims for their research in the field of macroeconomics.

Sargent studied at the University of California, Berkeley. After completing his doctorate at Harvard University, he was First Lieutenant and Captain in the U.S. Army. This was followed by teaching at the University of Pennsylvania and the University of Minnesota, from 1975 as a professor, as well as at Stanford University. Since 2002 he has Berkley Professor of Economics and Business at New York University.

Since 1987 he is also a senior fellow of the conservative Hoover Institution at Stanford University.

As co-founder of the new classical macroeconomics, alongside Robert E. Lucas, he delivered significant contributions to the theory of rational expectations. His established with Neil Wallace thesis of Politikineffektivität states that a systematic and therefore predictable monetary policy have no real impact on the economy.

Besides the price in Memory of Alfred Nobel Sargent many awards include the following science prizes: Nemmers Prize in Economics (1996 ), NAS Award for Scientific Reviewing ( 2011).

Works

• Robert E. Lucas, Thomas J. Sargent (eds.) Rational Expectations and Econometric Practice. 1981, ISBN 0-8166-0917-9
• Lars Peter Hansen, Thomas J. Sargent: Rational Expectations Econometrics. 1991, ISBN 0-8133-7800-1
• Lars Ljungqvist, Thomas J. Sargent: Recursive Macroeconomic Theory. 2001, ISBN 0-262-19451-1
• Lars Peter Hansen, Thomas J. Sargent: Robustness. 2007, ISBN 0-691-11442-0