Thomas J. Sargent

Senior Fellow
Awards and Honors:
American Academy of Arts and Sciences
Econometric Society (elected fellow)
National Academy of Sciences

Thomas J. Sargent is a senior fellow at the Hoover Institution and a leader in the field of macroeconomics. He is the William R. Berkley Professor of Economics and Business at New York University and the Donald L. Lucas Professor in Economics, Emeritus, at Stanford University. He received the Nobel Prize in economic sciences in 2011.

A professor of economics at the University of Minnesota from 1975 to 1987, when he joined the Hoover staff, he was also the David Rockefeller Professor at the University of Chicago from 1992 to 1998. Sargent is past president of the Econometric Society, the American Economic Association, and the Society for Economic Dynamics.

Sargent was a university medalist as Most Distinguished Scholar in the Class of 1964 and won the Nemmers Prize in Economics in 1997. Sargent was elected a fellow of the National Academy of Sciences and a fellow of the American Academy of Arts and Sciences, both in 1983.

Among his books are Rational Expectations and Econometric Practice, with Robert E. Lucas Jr., University of Minnesota Press, 1981; The Big Problem of Small Change, with Francois Velde, Princeton University Press, 2002; Recursive Macroeconomic Theory, with Lars Ljungqvist, MIT Press, 2004; and Robustness, with Lars Peter Hansen, Princeton University Press, 2007.

Sargent earned his PhD from Harvard University in 1968 and was a first lieutenant and captain in the US Army.

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Recent Commentary

The Fed Needs a Spine

by Thomas J. Sargent, William Silbervia Hoover Digest
Monday, August 13, 2012

Clearer signals about interest rates are well and good, but what the Fed really needs to demonstrate is strength to reject political pressure. By Thomas J. Sargent and William Silber.

A Lesson for Europe

by Thomas J. Sargentvia Hoover Digest
Friday, April 6, 2012

America’s founders paid off the states’ debts once—but only once. That wise example could benefit Europe today. By Thomas J. Sargent.

Federal Reserve
Analysis and Commentary

The challenges of the Fed’s bid for transparency

by Thomas J. Sargent, William Silbervia Financial Times
Wednesday, March 21, 2012

Inappropriate deviations from stated path must be avoided...

Federal Reserve
Analysis and Commentary

An American History Lesson for Europe

by Thomas J. Sargentvia Wall Street Journal
Friday, February 3, 2012

Our federal government refused to bail out the states in the 1840s, thus preserving their fiscal independence...