<p>This journal article (Oct 29-2011,) has parts from a telephone conversation of the journalist with Sargent:</p>

<p><a href="http://www.nytimes.com/2011/10/30/your-money/thomas-sargent-nobel-winner-rejects-philosophical-slogans.html" rel="nofollow">http://www.nytimes.com/2011/10/30/your-money/thomas-sargent-nobel-winner-rejects-philosophical-slogans.html</a></p>

<p>Although none of it mentions "New-Keynsian", there are some interesting points, like</p>

<blockquote>
  <p><em>"Professor Sargent said he felt insulted by people who call him
  “non-Keynesian” or “right wing,” terms that, he said, are based on a
  misunderstanding of his thinking... He’s a Democrat, he said, “a fiscally conservative, socially liberal Democrat,” adding, “I
  think that budget constraints are really central.”"</em></p>
</blockquote>

<p>On Keynes?</p>

<blockquote>
  <p><em>"The “non-Keynesian” label irks him particularly. “That’s just off
  base,” he said. “Keynes was a very good economist. He was brilliant.
  He had wonderful insights. His work has inspired me many times.”</em>"</p>
</blockquote>

<p>So are we to believe that Sargent is a "Keynesian"?</p>

<blockquote>
  <p><em>"Today, Professor Sargent says that in some ways he actually is a
  Keynesian, but he qualified that claim, too. “I’m happy to say I am a
  Harrison-Kreps-Keynesian,” he said, citing work by two scholars at
  Stanford, J. Michael Harrison and David M. Kreps. They developed a
  theory of speculative investor behavior and stock-bubble formation
  that subtly modifies rational expectations “in a beautiful way” and
  “captures Keynes’s argument, makes it rigorous, and pushes it
  further,” he said."</em></p>
</blockquote>

CC BY-SA 3.0
2015-03-23T02:40:41.673Z
2015-03-23T02:40:41.673Z
Alecos Papadopoulos
<p>Is there any article or paper that describes what Thomas Sargent thinks of New Keynesian economics/models?</p>

<p>I am asking this question, because we all know what Thomas Sargent thinks of Old Keynesian economics, but I can't find what he thinks of New Keynesians that involve sticky price (well, Calvo/Rotemberg/etc. methods) and imperfect competition.</p>

<macroeconomics><academic-graduate><new-keynesian-economics>
Is there any article or paper that describes what Thomas Sargent thinks of New Keynesian economics/models?
Macroaskp
# Is there any article or paper that describes what Thomas Sargent thinks of New Keynesian economics/models?

(Asked by: username_0 on 2015-03-22)

Is there any article or paper that describes what Thomas Sargent thinks of New Keynesian economics/models?

I am asking this question, because we all know what Thomas Sargent thinks of Old Keynesian economics, but I can't find what he thinks of New Keynesians that involve sticky price (well, Calvo/Rotemberg/etc. methods) and imperfect competition.

**Tags:** macroeconomics, academic-graduate, new-keynesian-economics


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## 1 answers

### Answer by username_1 on 2015-03-23. Score: 4

This journal article (Oct 29-2011,) has parts from a telephone conversation of the journalist with Sargent:

<http://www.nytimes.com/2011/10/30/your-money/thomas-sargent-nobel-winner-rejects-philosophical-slogans.html>

Although none of it mentions "New-Keynsian", there are some interesting points, like

> *"Professor Sargent said he felt insulted by people who call him
> “non-Keynesian” or “right wing,” terms that, he said, are based on a
> misunderstanding of his thinking... He’s a Democrat, he said, “a fiscally conservative, socially liberal Democrat,” adding, “I
> think that budget constraints are really central.”"*

On Keynes?

> *"The “non-Keynesian” label irks him particularly. “That’s just off
> base,” he said. “Keynes was a very good economist. He was brilliant.
> He had wonderful insights. His work has inspired me many times.”*"

So are we to believe that Sargent is a "Keynesian"?

> *"Today, Professor Sargent says that in some ways he actually is a
> Keynesian, but he qualified that claim, too. “I’m happy to say I am a
> Harrison-Kreps-Keynesian,” he said, citing work by two scholars at
> Stanford, J. Michael Harrison and David M. Kreps. They developed a
> theory of speculative investor behavior and stock-bubble formation
> that subtly modifies rational expectations “in a beautiful way” and
> “captures Keynes’s argument, makes it rigorous, and pushes it
> further,” he said."*


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