In the 1980s, there were occasions when it made sense to say, 'it is too difficult to maximize the likelihood function, and besides if we do, it will blow our model out of the water.

Keynes was a very good economist. He was brilliant. He had wonderful insights. His work has inspired me many times.

I wasn't the brightest kid, not by a long shot. I was interested in football, in girls, in getting my work done with the least amount of effort.

What I really don't like is oversimplification.

In the 1980s, there were occasions when it made sense to say, 'it is too difficult to maximize the likelihood function, and besides if we do, it will blow our model out of the water.

I think you've got to watch out for anybody in high school who says he wants to become an economist.

There was a danger that skeptics and opponents would misread those likelihood ratio tests as rejections of an entire class of models, which of course they were not.