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Thomas J. Sargent

New York University (NYU) - Department of Economics, Leonard N. Stern School of Business

Berkley Professor of Economics and Business

269 Mercer Street

New York, NY 10003

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

62

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Scholarly Papers (62)

Macroeconomic Uncertainty Prices when Beliefs are Tenuous

Becker Friedman Institute for Research in Economics Working Paper No. 2888511
Number of pages: 51 Posted: 22 Dec 2016 Last Revised: 25 Jan 2019
Lars Peter Hansen and Thomas J. Sargent
University of Chicago - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 252 (300,127)
Citation 1

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Risk, uncertainty, asset prices, relative entropy, Chernoff entropy, robustness, variational preferences, baseline, structured, and unstructured models

Prices of Macroeconomic Uncertainties with Tenuous Beliefs

Becker Friedman Institute for Research in Economics Working Paper No. 2973331
Number of pages: 60 Posted: 24 May 2017
Lars Peter Hansen and Thomas J. Sargent
University of Chicago - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 230 (329,492)
Citation 3

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risk,uncertainty, ambiguity, asset prices, relative entropy, Chernoff entropy, robustness, variational preferences; baseline, structured, and unstructured models

Macroeconomic Uncertainty Prices when Beliefs are Tenuous

NBER Working Paper No. w25781
Number of pages: 55 Posted: 30 Apr 2019 Last Revised: 12 Jun 2022
Lars Peter Hansen and Thomas J. Sargent
University of Chicago - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 41 (1,196,631)
Citation 3

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2.
Downloads 460 (155,435)
Citation 5

A p Theory of Government Debt and Taxes

Number of pages: 64 Posted: 15 Apr 2022
Wei Jiang, Thomas J. Sargent, Neng Wang and Jinqiang Yang
Hong Kong University of Science and Technology, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Columbia University - Columbia Business School, FinanceCheung Kong Graduate School of Business and Shanghai University of Finance and Economics
Downloads 425 (168,773)
Citation 1

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sovereign debt, default, limited commitment, Ricardian equivalence, debt capacity, debt sustainability

A p Theory of Taxes and Debt Management

NBER Working Paper No. w29931
Number of pages: 61 Posted: 11 Apr 2022 Last Revised: 14 Apr 2023
Wei Jiang, Thomas J. Sargent, Neng Wang and Jinqiang Yang
Hong Kong University of Science and Technology, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Columbia University - Columbia Business School, FinanceCheung Kong Graduate School of Business and Shanghai University of Finance and Economics
Downloads 35 (1,281,607)
Citation 4

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3.

A, B, C's (and D'S) for Understanding Vars

Number of pages: 49 Posted: 04 May 2005
University of Pennsylvania - Department of Economics, Federal Reserve Bank of Atlanta - Research Department and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 449 (159,949)
Citation 57

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VARs , Invertibility, Estimation of Dynamic Equilibrium Models, economic shocks, innovations

4.

Drifts and Volatilities: Monetary Policies and Outcomes in the Post WWII U.S.

FRB Atlanta Working Paper No. 2003-25
Number of pages: 48 Posted: 23 Feb 2015
Timothy Cogley and Thomas J. Sargent
Leonard N. Stern School of Business - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 407 (179,524)
Citation 197

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Bayesian analysis, inflation, monetary policy

5.
Downloads 369 (200,763)
Citation 6

The Conquest of South American Inflation

FRB of Atlanta Working Paper No. 2006-20
Number of pages: 61 Posted: 26 Nov 2006
Thomas J. Sargent, Noah Williams and Tao A. Zha
New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Princeton University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 217 (349,289)
Citation 5

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self-conirming equilibria, rational expectations, adaptation, inflation, seigniorage, deficits, escape dynamics

The Conquest of South American Inflation

NBER Working Paper No. w12606
Number of pages: 61 Posted: 23 Oct 2006 Last Revised: 12 Dec 2022
Thomas J. Sargent, Noah Williams and Tao A. Zha
New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Princeton University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 152 (488,255)
Citation 1

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6.

Three Types of Ambiguity

Journal of Monetary Economics, Forthcoming, BFI Working Paper Series No. 2012-006
Number of pages: 109 Posted: 09 Jun 2012 Last Revised: 11 Jul 2012
Lars Peter Hansen and Thomas J. Sargent
University of Chicago - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 322 (233,602)
Citation 19

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Robustness, ambiguity, martingales, Ramsey plan, commitment, local predictability, heterogeneous beliefs

7.
Downloads 322 (233,602)
Citation 2

Optimal Taxation Without State-Contingent Debt

Univ. of Illinois-Urbana/Champaign-CBA Office of Research Working Paper No. 01-0127
Number of pages: 31 Posted: 27 Mar 2002
Albert Marcet, Thomas J. Sargent and Juha Seppala
Universitat Pompeu Fabra (UPF) - Faculty of Economic and Business Sciences, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business and University of Illinois at Urbana-Champaign
Downloads 322 (231,320)
Citation 2

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Optimal Taxation, Incomplete Markets, Ramsey Problem, Unit Root

Optimal Taxation Without State-Contingent Debt

Posted: 06 Mar 2003
S. Rao Aiyagari, Juha Seppala, Albert Marcet and Thomas J. Sargent
University of Rochester - William E. Simon Graduate School of Business Administration (Deceased), University of Illinois at Urbana-Champaign, Universitat Pompeu Fabra (UPF) - Faculty of Economic and Business Sciences and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business

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Interest Rate Risk and Other Determinants of Post-WWII U.S. Government Debt/GDP Dynamics

Number of pages: 35 Posted: 09 Sep 2010
George J. Hall and Thomas J. Sargent
Brandeis University - Department of Economics and International Business School and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 178 (423,194)
Citation 28

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Holding period returns, capital gains, inflation, growth, debt-GDP ratio, government budget constraint

Interest Rate Risk and Other Determinants of Post-WWII U.S. Government Debt/GDP Dynamics

NBER Working Paper No. w15702
Number of pages: 31 Posted: 01 Feb 2010 Last Revised: 29 May 2022
George J. Hall and Thomas J. Sargent
Brandeis University - Department of Economics and International Business School and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 142 (518,518)
Citation 60

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9.

Risk, Ambiguity, and Misspecification: Decision Theory, Robust Control, and Statistics

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2022-157
Number of pages: 34 Posted: 29 Nov 2022 Last Revised: 22 Jun 2023
Lars Peter Hansen and Thomas J. Sargent
University of Chicago - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 276 (275,238)
Citation 30

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Variational preferences, statistical divergence, relative entropy, prior, likelihood, ambiguity, misspecification

10.

The Conquest of U.S. Inflation: Learning and Robustness to Model Uncertainty

Number of pages: 57 Posted: 01 Jun 2005
Timothy Cogley and Thomas J. Sargent
Leonard N. Stern School of Business - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 261 (291,839)
Citation 6

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natural unemployment rate, Phillips curve, Bayes' law, anticipated utility, robustness

11.
Downloads 257 (296,486)
Citation 45

Israel 1983: A Bout of Unpleasant Monetarist Arithmetic

Number of pages: 31 Posted: 07 Apr 2008
Thomas J. Sargent and Joseph Zeira
New York University (NYU) - Department of Economics, Leonard N. Stern School of Business and Hebrew University of Jerusalem - Department of Economics
Downloads 230 (329,492)
Citation 9

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Inflation, Rational Expectations, Inflation Tax, Public Debt

Israel 1983: A Bout of Unpleasant Monetarist Arithmetic

CEPR Discussion Paper No. DP6792
Number of pages: 33 Posted: 12 Jun 2008
Thomas J. Sargent and Joseph Zeira
New York University (NYU) - Department of Economics, Leonard N. Stern School of Business and Hebrew University of Jerusalem - Department of Economics
Downloads 27 (1,400,723)
Citation 36
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Inflation, Inflation Tax, Public Debt, Rational Expectations

Politics and Efficiency of Separating Capital and Ordinary Government Budgets

NBER Working Paper No. w11030
Number of pages: 45 Posted: 01 Jun 2006 Last Revised: 22 Aug 2022
Marco Bassetto and Thomas J. Sargent
Federal Reserve Bank of Chicago and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 146 (506,124)
Citation 13

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Politics and Efficiency of Separating Capital and Ordinary Government Budgets

FRB Chicago Working Paper No. 2005-07
Number of pages: 53 Posted: 26 Oct 2005
Marco Bassetto and Thomas J. Sargent
Federal Reserve Bank of Chicago and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 107 (658,807)

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Golden rule, majority rule, Pareto efficient allocation, public goods, government

13.

Inflation-Gap Persistence in the U.S

NBER Working Paper No. w13749
Number of pages: 42 Posted: 24 Jan 2008 Last Revised: 28 Jul 2022
Timothy Cogley, Giorgio E. Primiceri and Thomas J. Sargent
Leonard N. Stern School of Business - Department of Economics, Northwestern University - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 252 (302,586)
Citation 72

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14.

Robustness and U.S. Monetary Policy Experimentation

Journal of Money, Credit, and Banking, Forthcoming
Number of pages: 29 Posted: 18 Sep 2008
Leonard N. Stern School of Business - Department of Economics, University of North Carolina Kenan-Flagler Business School, University of Chicago - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 237 (321,897)
Citation 13

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Learning, model uncertainty, Bayes' law, Phillips curve, experimentation, robustness, pessimism, entropy

Shocks and Government Beliefs: The Rise and Fall of American Inflation

NBER Working Paper No. w10764
Number of pages: 50 Posted: 29 Sep 2004 Last Revised: 01 Dec 2022
Thomas J. Sargent, Noah Williams and Tao A. Zha
New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Princeton University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 178 (423,194)
Citation 1

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Shocks and Government Beliefs: The Rise and Fall of American Inflation

FRB Atlanta Working Paper No. 2004-22
Number of pages: 41 Posted: 23 Feb 2015
Thomas J. Sargent, Noah Williams and Tao A. Zha
New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Princeton University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 58 (996,491)
Citation 17

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updating beliefs, policy evaluation, self-confirming equilibrium, Nash inflation, Ramsey outcomes

16.

Twisted Probabilities, Uncertainty, and Prices

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2019-02
Number of pages: 55 Posted: 15 Jan 2019
University of Chicago - Department of Economics, Board of Governors of the Federal Reserve System, Pacific Investment Management Company (PIMCO) and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 217 (351,440)
Citation 8

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Risk, uncertainty, relative entropy, robustness, asset prices, exponential quadratic stochastic discount factor

17.

Structured Ambiguity and Model Misspecification

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2018-77
Number of pages: 46 Posted: 10 Nov 2018 Last Revised: 09 Nov 2020
Lars Peter Hansen and Thomas J. Sargent
University of Chicago - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 215 (354,560)
Citation 23

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Ambiguity, misspecification, relative entropy, robustness, variational preferences, structured and unstructured models

Welfare Cost of Business Cycles in Economies with Individual Consumption Risk

Bank of Korea WP 2014-9
Number of pages: 27 Posted: 28 Mar 2015
Martin Ellison and Thomas J. Sargent
University of Oxford and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 136 (538,342)
Citation 1

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Cost of Business Cycles, Idiosyncratic Risk, Model Uncertainty, Robustness

Welfare Cost of Business Cycles in Economies with Individual Consumption Risk

Bank of Finland Research Discussion Paper No. 25/2012
Number of pages: 23 Posted: 31 Jul 2012
Martin Ellison and Thomas J. Sargent
University of Oxford and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 72 (871,518)
Citation 3

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cost of business cycles, idiosyncratic risk, model uncertainty, robustness

19.

Benefits from U.S. Monetary Policy Experimentation in the Days of Samuelson and Solow and Lucas

Journal of Money, Credit, and Banking, Vol. 39, No. 2, 2007
Number of pages: 34 Posted: 15 Sep 2008
Timothy Cogley, Ric Colacito and Thomas J. Sargent
Leonard N. Stern School of Business - Department of Economics, University of North Carolina Kenan-Flagler Business School and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 188 (403,391)
Citation 1

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20.

Measuring Price-Level Uncertainty and Instability in the U.S., 1850-2012

Bank of Korea WP 2014-33
Number of pages: 38 Posted: 30 Mar 2015
Timothy Cogley and Thomas J. Sargent
Leonard N. Stern School of Business - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 186 (407,391)
Citation 5

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Price stability, inflation uncertainty, deflation risk, postwar stabilization, nonlinear signal extraction

21.

Managing Expectations and Fiscal Policy

Number of pages: 39 Posted: 03 Nov 2009 Last Revised: 29 Aug 2013
University of Surrey - School of Economics, University of Chicago - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 170 (442,467)
Citation 9

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Ramsey plan, misspecification, robustness, taxes, debt, martingale, expansion

22.

Escaping Nash Inflation

Number of pages: 55 Posted: 07 Jan 2003
In-Koo Cho and Thomas J. Sargent
University of Illinois at Urbana-Champaign and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 161 (464,454)
Citation 17

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Self-confirming Equilibrium, Mean Dynamics, Escape Route, Large Deviation, Natural Rate of Unemployment, Adaptation, Experimentation Trap

23.

A, B, C's (and D)'s for Understanding VARs

NBER Working Paper No. t0308
Number of pages: 49 Posted: 06 Jul 2005 Last Revised: 07 May 2023
University of Pennsylvania - Department of Economics, Federal Reserve Bank of Atlanta - Research Department and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 159 (469,621)

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24.

Inequality, Business Cycles, and Monetary-Fiscal Policy

NBER Working Paper No. w24710
Number of pages: 83 Posted: 18 Jun 2018 Last Revised: 09 Jul 2023
Anmol Bhandari, David Evans, Mikhail Golosov and Thomas J. Sargent
University of Minnesota - Minneapolis - Department of Economics, University of Oregon - Department of Economics, Princeton University - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 144 (511,933)
Citation 19

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Downloads 143 (514,995)
Citation 8

Fiscal Discriminations in Three Wars

Number of pages: 40 Posted: 26 Apr 2013
George J. Hall and Thomas J. Sargent
Brandeis University - Department of Economics and International Business School and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 84 (785,882)
Citation 1

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repudiation, reputation, discrimination, legal tender, greenbacks, Alexander Hamilton, Albert Gallatin, Ulysses S. Grant

Fiscal Discriminations in Three Wars

NBER Working Paper No. w19008
Number of pages: 41 Posted: 04 May 2013 Last Revised: 10 Jun 2023
George J. Hall and Thomas J. Sargent
Brandeis University - Department of Economics and International Business School and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 59 (986,385)
Citation 7

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26.

Wealth Dynamics in a Bond Economy with Heterogeneous Beliefs

Bank of Korea WP 2013-23
Number of pages: 47 Posted: 09 Apr 2015
Timothy Cogley, Thomas J. Sargent and Viktor Tsyrennikov
Leonard N. Stern School of Business - Department of Economics, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business and Charles River Associates (CRA)
Downloads 134 (544,251)
Citation 3

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Wealth dynamics, survival, incomplete markets, diverse beliefs, learning

27.

A History of U.S. Debt Limits

NBER Working Paper No. w21799
Number of pages: 54 Posted: 14 Dec 2015 Last Revised: 26 Jul 2023
George J. Hall and Thomas J. Sargent
Brandeis University - Department of Economics and International Business School and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 132 (551,165)
Citation 1

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28.

Implementing an Optimal Tax Plan with Short Term Debt

Number of pages: 42 Posted: 30 Jun 2025 Last Revised: 04 Jul 2025
Wei Jiang, Thomas J. Sargent and Neng Wang
Hong Kong University of Science and Technology, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business and Columbia University - Columbia Business School, FinanceCheung Kong Graduate School of Business
Downloads 118 (608,822)

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Ramsey planner, continuation Ramsey planner, implementability, short-term debt

29.

Recursive Robust Estimation and Control Without Commitment

Bundesbank Series 1 Discussion Paper No. 2005,28
Number of pages: 56 Posted: 08 Jun 2016
Lars Peter Hansen and Thomas J. Sargent
University of Chicago - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 110 (640,165)
Citation 18

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30.

Taxes, Debts, and Redistributions with Aggregate Shocks

NBER Working Paper No. w19470
Number of pages: 57 Posted: 28 Sep 2013 Last Revised: 15 Mar 2023
University of Minnesota - Minneapolis - Department of Economics, University of Oregon - Department of Economics, New York University (NYU) - Department of Economics, Princeton University - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 104 (669,616)

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31.

Recursive Linear Models of Dynamic Economies

NBER Working Paper No. w3479
Number of pages: 41 Posted: 27 Jun 2007 Last Revised: 06 Jul 2022
Lars Peter Hansen and Thomas J. Sargent
University of Chicago - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 101 (684,672)

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32.

Singles, Couples, Time-Averaging, and Taxation

Number of pages: 72 Posted: 17 Oct 2024 Last Revised: 31 Oct 2024
University of Delaware - Economics, Stockholm School of Economics, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business and University of Southampton
Downloads 91 (736,406)
Citation 1

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Precautionary Saving, Labor Supply, Time-Averaging, Social Security, Heterogeneous Households

33.

Treasuries and Tax Farms

Number of pages: 26 Posted: 18 Aug 2025 Last Revised: 23 Aug 2025
Wei Jiang, Thomas J. Sargent, Neng Wang and Jinqiang Yang
Hong Kong University of Science and Technology, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Columbia University - Columbia Business School, FinanceCheung Kong Graduate School of Business and Shanghai University of Finance and Economics
Downloads 90 (753,595)

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Treasury, tax farm, duality, limited commitment, default, debt limit

34.

Managing Government Debt

Number of pages: 14 Posted: 28 Jun 2024
Wei Jiang, Thomas J. Sargent, Neng Wang and Jinqiang Yang
Hong Kong University of Science and Technology, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Columbia University - Columbia Business School, FinanceCheung Kong Graduate School of Business and Shanghai University of Finance and Economics
Downloads 78 (816,709)

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Tax distortions, Ricardian equivalence, debt-GDP dynamics, risk premium

35.

Impacts of Priors on Convergence and Escapes from Nash Inflation

FRB Atlanta Working Paper No. 2003-14
Number of pages: 28 Posted: 18 Feb 2015
Thomas J. Sargent and Noah Williams
New York University (NYU) - Department of Economics, Leonard N. Stern School of Business and Princeton University - Department of Economics
Downloads 68 (891,180)
Citation 9

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self-confirming equilibrium, mean dynamics, escape route, large deviation, natural rate of unemployment, adaptation, priors

36.

Short-Run and Long-Run Effects of Milton Friedman's Presidential Address

NBER Working Paper No. w24148
Number of pages: 21 Posted: 28 Dec 2017 Last Revised: 26 Jun 2022
Robert E. Hall and Thomas J. Sargent
Hoover Institution and Department of Economics, Stanford University and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 61 (951,658)
Citation 7

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37.

Managing Public Portfolios

NBER Working Paper No. w30501
Number of pages: 51 Posted: 26 Sep 2022 Last Revised: 01 Oct 2022
University of Chicago, University of Minnesota - Minneapolis - Department of Economics, University of Oregon - Department of Economics, University of Chicago and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 60 (961,006)

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38.

Machine Learning Calvo's Optimal Plan

Number of pages: 30 Posted: 01 Apr 2025
Thomas J. Sargent and Ziyue Yang
New York University (NYU) - Department of Economics, Leonard N. Stern School of Business and Australian National University (ANU)
Downloads 55 (1,031,043)

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Artificial intelligence, machine learning, fake data, Ramsey plan, time inconsistency, open loop, closed loop, inflation, money.

39.

Sets of Models and Prices of Uncertainty

NBER Working Paper No. w22000
Number of pages: 64 Posted: 22 Feb 2016 Last Revised: 11 Feb 2023
Lars Peter Hansen and Thomas J. Sargent
University of Chicago - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 54 (1,020,567)

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40.
Downloads 46 (1,109,210)
Citation 14

Shotgun Wedding: Fiscal and Monetary Policy

NBER Working Paper No. w27004
Number of pages: 55 Posted: 20 Apr 2020 Last Revised: 15 Apr 2023
Marco Bassetto and Thomas J. Sargent
Federal Reserve Bank of Chicago and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 46 (1,131,842)
Citation 14

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Shotgun Wedding: Fiscal and Monetary Policy

Annual Review of Economics, Vol. 12, pp. 659-690, 2020
Posted: 14 Aug 2020
Marco Bassetto and Thomas J. Sargent
Federal Reserve Bank of Chicago and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business

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41.

Funding the Great War and the Beginning of the End for British Hegemony

CEPR Discussion Paper No. DP13848
Number of pages: 22 Posted: 30 Jul 2019
Martin Ellison, Thomas J. Sargent and Andrew Scott
University of Oxford, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business and London Business School - Department of Economics
Downloads 44 (1,133,231)
Citation 3
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British Hegemony, National Debt, World War I

42.

Stochastic Earnings Growth and Equilibrium Wealth Distributions

NBER Working Paper No. w28473
Number of pages: 39 Posted: 22 Mar 2021 Last Revised: 20 Apr 2023
Thomas J. Sargent, Neng Wang and Jinqiang Yang
New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Columbia University - Columbia Business School, FinanceCheung Kong Graduate School of Business and Shanghai University of Finance and Economics
Downloads 43 (1,145,425)
Citation 4

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43.

Jobs and Unemployment in Macroeconomic Theory: A Turbulence Laboratory

CEPR Discussion Paper No. 5340
Number of pages: 78 Posted: 05 Jan 2006
Lars Ljungqvist and Thomas J. Sargent
Stockholm School of Economics - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 43 (1,145,425)
Citation 4
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Discouraged worker, employment protection, job, matching, search, skills, turbulence, unemployment, unemployment insurance

44.

Quit Turbulence and Unemployment

Number of pages: 68 Posted: 04 Sep 2020
Isaac Baley, Lars Ljungqvist and Thomas J. Sargent
Universitat Pompeu Fabra (UPF) - Department of Economics and Business, Stockholm School of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 42 (1,157,785)

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matching model, skills, turbulence, unemployment, turnover, calibration

45.

The European Employment Experience

Number of pages: 65 Posted: 18 Oct 2002
Lars Ljungqvist and Thomas J. Sargent
Stockholm School of Economics - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 35 (1,249,711)
Citation 1
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Europe, unemployment, unemployment compensation, layoff costs

46.

Debt and Taxes in Eight U.S. Wars and Two Insurrections

NBER Working Paper No. w27115
Number of pages: 65 Posted: 12 May 2020 Last Revised: 02 Feb 2023
George J. Hall and Thomas J. Sargent
Brandeis University - Department of Economics and International Business School and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 34 (1,263,436)
Citation 9

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47.

Implementing a Ramsey Plan

Number of pages: 48 Posted: 27 Jun 2024
Wei Jiang, Thomas J. Sargent and Neng Wang
Hong Kong University of Science and Technology, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business and Columbia University - Columbia Business School, FinanceCheung Kong Graduate School of Business
Downloads 33 (1,277,121)

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Ramsey planner, continuation Ramsey planner, implementability, instantaneous debt, local commitment, dynamic programming

48.

European Unemployment and Turbulence Revisited in a Matching Model

Number of pages: 23 Posted: 11 Feb 2004
Lars Ljungqvist and Thomas J. Sargent
Stockholm School of Economics - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 22 (1,424,331)
Citation 183
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European unemployment, turbulence

49.

Returns to Labor Mobility: Layoff Costs and Quit Turbulence

CEPR Discussion Paper No. DP16370
Number of pages: 72 Posted: 22 Sep 2021
Isaac Baley, Lars Ljungqvist and Thomas J. Sargent
Universitat Pompeu Fabra (UPF) - Department of Economics and Business, Stockholm School of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 21 (1,436,435)
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Human Capital, Labor Mobility, layoff cost, matching model, quits, search-island model, skills, turbulence, Turnover, unemployment

50.

Bayesian Model Averaging, Learning and Model Selection

CEPR Discussion Paper No. DP8917
Number of pages: 27 Posted: 04 Apr 2012
University of Oregon - Department of Economics, Centre for Economic Policy Research (CEPR)Aalto University School of Business, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business and Princeton University - Department of Economics
Downloads 21 (1,436,435)
Citation 6
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grain of truth, rational expectations equilibrium, Time-varying perceptions

Efficiency, Insurance, and Redistribution Effects of Government Policies

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2026-35
Number of pages: 100 Posted: 10 Mar 2026
Anmol Bhandari, David Evans, Mikhail Golosov and Thomas J. Sargent
University of Minnesota - Minneapolis - Department of Economics, University of Oregon - Department of Economics, University of Chicago and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
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Efficiency, Insurance, and Redistribution Effects of Government Policies

NBER Working Paper No. w34907
Number of pages: 100 Posted: 02 Mar 2026
Anmol Bhandari, David Evans, Mikhail Golosov and Thomas J. Sargent
University of Minnesota - Minneapolis - Department of Economics, University of Oregon - Department of Economics, University of Chicago and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
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52.

Implementing a Ramsey Plan

NBER Working Paper No. w32658
Number of pages: 49 Posted: 15 Jul 2024
Wei Jiang, Thomas J. Sargent and Neng Wang
Hong Kong University of Science and Technology, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business and Columbia University - Columbia Business School, FinanceCheung Kong Graduate School of Business
Downloads 15 (1,500,778)

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53.

A Defence of the FOMC

CEPR Discussion Paper No. DP7510
Number of pages: 26 Posted: 17 Nov 2009
Martin Ellison and Thomas J. Sargent
University of Oxford and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
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forecasting, monetary policy, robustness

54.

The Fundamental Surplus Strikes Again

CEPR Discussion Paper No. DP16077
Number of pages: 33 Posted: 14 May 2021
Lars Ljungqvist and Thomas J. Sargent
Stockholm School of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
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Citation 50
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55.

Taxes, Benefits, and Careers: Complete versus Incomplete Markets

CEPR Discussion Paper No. DP6560
Number of pages: 44 Posted: 06 Jun 2008
Lars Ljungqvist and Thomas J. Sargent
Stockholm School of Economics - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
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Citation 5
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benefits, career, complete markets, employment lotteries, human capital, incomplete markets, indivisible labour, labour supply elasticity, retirement, taxes

56.

Treasuries and Tax Farms

Number of pages: 33 Posted: 16 Feb 2026
Wei Jiang, Thomas J. Sargent, Neng Wang and Jinqiang Yang
Hong Kong University of Science and Technology, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business, Columbia University and Shanghai University of Finance and Economics
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Treasury, tax farm, duality, limited commitment, default, debt limit

57.

The Fundamental Surplus in Matching Models

CEPR Discussion Paper No. DP10489
Number of pages: 48 Posted: 16 Mar 2015
Lars Ljungqvist and Thomas J. Sargent
Stockholm School of Economics - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
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Citation 10
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business cycle, fundamental surplus, market tightness, matching model, unemployment, volatility, welfare state

58.

Turbulence and Unemployment in Matching Models

CEPR Discussion Paper No. DP12683
Number of pages: 49 Posted: 05 Feb 2018
Isaac Baley, Lars Ljungqvist and Thomas J. Sargent
Universitat Pompeu Fabra (UPF) - Department of Economics and Business, Stockholm School of Economics - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
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layoff costs, layoffs, matching model, quits, skills, turbulence, unemployment

59.

A Life-Cycle Model of Trans-Atlantic Employment Experiences

CEPR Discussion Paper No. DP11260
Number of pages: 62 Posted: 09 May 2016
Sagiri Kitao, Lars Ljungqvist and Thomas J. Sargent
City University of New York, CUNY Hunter College - Department of Economics, Stockholm School of Economics - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
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Citation 7
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benefits, employment protection, Europe, minimum wage, U.S., Unemployment

60.

Career Length: Effects of Curvature of Earnings Profiles, Earnings Shocks, and Social Security

CEPR Discussion Paper No. DP7822
Number of pages: 42 Posted: 19 May 2010
Lars Ljungqvist and Thomas J. Sargent
Stockholm School of Economics - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
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Citation 3
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career length, earnings profile, earnings shocks, indivisible labor, labor supply elasticity, social security, taxes

61.

Do Taxes Explain European Employment? Indivisible Labour, Human Capital, Lotteries and Savings

CEPR Discussion Paper No. DP6196
Number of pages: 41 Posted: 20 May 2008
Lars Ljungqvist and Thomas J. Sargent
Stockholm School of Economics - Department of Economics and New York University (NYU) - Department of Economics, Leonard N. Stern School of Business
Downloads 7 (1,561,096)
Citation 10
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Aggregation theories, employment lotteries, human capital, indivisible labour, labour supply elasticity, labour taxation, social and private insurance

62.

Robust Permanent Income and Pricing with Filtering

Macroeconomic Dynamics, Vol. 6, pp. 40-84, 2002
Posted: 07 May 2005
Lars Peter Hansen, Thomas J. Sargent and Neng Wang
University of Chicago - Department of Economics, New York University (NYU) - Department of Economics, Leonard N. Stern School of Business and Columbia University - Columbia Business School, FinanceCheung Kong Graduate School of Business

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Kalman filter, approximating model, Knightian uncertainty, robustness, equity premium, market price of uncertainty, permanent income