Information

Personalborn in 1943 in the United States.

EducationPh.D. in Economics, Harvard University.

Academic AppointmentsWilliam Berkley Professor of Economics, New York University (2002 - present). Visiting professor, HSBC business school, Peking University, Shenzhen (2017 - present). Senior Fellow, Hoover Institution, Stanford University (1987 - present).

Research Field

Prof. Sargent is the winner of 2011 Nobel Prize in Economics, shared with Princeton University's Christopher Sims, for his empirical research on cause and effect in the macroeconomy. He is one of the leaders of the "rational expectations revolution," which argues that the people being modeled by economists can predict the future, or the probability of future outcomes, at least as well as the economist can with his model. He traces the implications of rational expectations, with Wallace, for alternative monetary-policy instruments and rules on output stability and price determinacy. He helps make the theory of rational expectations statistically operational. He conducts several historical studies that put rational expectations reasoning to work to explain consequences of dramatic changes in macroeconomic policy regimes.