The Art and Practice of Economics Research
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The Art and Practice of Economics Research

Lessons from Leading Minds

Simon W. Bowmaker

The Art and Practice of Economics Research provides an in-depth look into the research methods of leading economists from across the United States and Europe. This innovative volume contains 25 interviews with practicing economists, presenting insightful personal accounts into an often-misunderstood field.
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Chapter: Thomas J. Sargent (New York University)

Simon W. Bowmaker


Thomas Sargent was born in Pasadena, California in 1943 and graduated with a BA from the University of California, Berkeley in 1964 before obtaining a PhD in economics from Harvard University in 1968. Professor Sargent has taught at the University of Pennsylvania, 1970–1971, the University of Minnesota, 1971–1987, the University of Chicago, 1991– 1998, Stanford University, 1998–2002, and New York University, where he currently serves as the Berkley Professor of Economics and Business. Since 1987, he has been a Senior Fellow at the Hoover Institution, Stanford University. Professor Sargent’s research fields are macroeconomics, monetary economics, and time series econometrics. He is perhaps best known as one of the pioneers of the rational expectations revolution in macroeconomics in the 1970s. His most-cited articles in chronological order include ‘“Rational Expectations”, the Optimal Monetary Instrument, and the Optimal Money Supply Rule’, Journal of Political Economy (1975), co-authored with Neil Wallace, ‘Estimation of Dynamic Labor Demand Schedules under Rational Expectations’, Journal of Political Economy (1978), ‘Some Unpleasant Monetarist Arithmetic’, Federal Reserve Bank of Minneapolis Quarterly Review (1981), co-authored with Neil Wallace, ‘Convergence of Least 393 Columns Design XML Ltd / Job: Bowmaker-Art_and_Practice_Economics_Research / Division: 21Sargent /Pg. Position: 1 / Date: 9/7 JOBNAME: Bowmaker PAGE: 2 SESS: 3 OUTPUT: Thu Aug 23 16:50:48 2012 394 The art and practice of economics research Squares Learning Mechanisms in Self-referential Linear Stochastic Models’, Journal of Economic Theory (1989), co-authored with Albert Marcet, and ‘The European Unemployment Dilemma’, Journal of...

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