Graph-of-the-Year Candidates
Donald Marron likes European interest rates. Click on the image to get a bigger version. Can you find three distinct subperiods?
Brad DeLong favors the U.S. gdp gap.
Finally, it's hard to argue against the payroll employment graph below (straight from FRED) and the comparison across recessions (courtesy of Calculated Risk).
Looking Up At 2001
In February 2001, U.S. payroll employment peaked at 132.5 million. The November 2011 figure of 131.7 million still falls 800,000 jobs short of the earlier peak.
Click on the chart for a larger version.
November Payroll Employment
Remember M1?
Money Supply M1 growth is now over 20% per year over a 12 month lag. M1 growth has touched 20% before, but not with excess reserves of $1.6 trillion. Where is M1 headed?
Click on the chart for a larger version.
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"Musings from a London-based economist and policy wonk”
November 20, 2011, 9:04 am, 922696
Spaniards vote today, with opinion polls pointing to a change of government. Incoming conservative Prime Minister Mariano Rajo faces unsustainably high sovereign bond yields, a depressed economy most likely sliding back into recession and, at 21.5%, the highest unemployment rate in the Eurozone. While the European Commission's autumn economic forecasts, ...
November 18, 2011, 1:04 pm, 922303
Behavioural economics has blossomed in recent years, to the point that the Fall 2011 edition of the Journal of Economic Perspectives can, along with articles on neuronomics, genetics and retirement, include a fascinating 20 page review paper on incentives. That's not surprising; a lot of people have taken an interest ...
November 16, 2011, 1:04 pm, 921374
For various reasons I have been unable to blog for almost three years. But now I'm back. It would be an understatement to say I have missed a lot. Not only the Great Recession and the not-so-great recovery, but all the fun and games in the Eurozone as well. Regulators ...
January 17, 2011, 1:04 am, 811037
If you are appearing on American Idol or the X-Factor, try to be one of the last to sing. That's the conclusion from a new paper presented at a University of Westminster seminar today. Lionel Page and Katie Page look at an important topic - the evaluation of a sequential ...
January 17, 2011, 1:04 am, 811036
Chris Giles summarises a new report on globalisation by the Ifo-affiliated European Economic Advisory Group in today's Financial Times: Globalisation ‘a blessing’ for west Europe Increased trade, outsourcing and offshoring do not create unemployment but boost the number of jobs in advanced economies, a study of European labour markets says ...
January 17, 2011, 1:04 am, 811035
We know a lot about the Chinese economy - but how do the Chinese think? What do they discuss? Are they all Maoist automatons, or is there a lively debate occurring which Western observors are barely aware of? Veteran think tanker Mark Leonard favours the latter view, which he puts ...
January 17, 2011, 1:04 am, 811033
Ever been to a concert or play where the rest of the audience were in raptures, but you weren't? That's been my experience every time I've gone to hear Joseph Stiglitz speak on globalisation in London. Each time I've come away wondering how such a first rate economist can offer ...
January 17, 2011, 1:04 am, 811032
Semi-regular blogging service resumes this week with a few posts on migration - still a very topical issue on both sides of the Atlantic. The first paper I'd like to highlight is by the University of Chicago's Jeffrey Grogger, and UCSD's Gordon H. Hanson. Their recent NBER Working Paper No. ...
January 17, 2011, 1:04 am, 811031
Inter-county migration in China - mostly rural migrants moving to urban areas - increased four-fold during the 1990s, from just over 20 million in 1990 to 79 million by 2000. With what effect? Co-authors Alan de Brauw from the International Food Policy Research Institute and Michigan State University's John Giles ...
January 17, 2011, 1:04 am, 811030
A recent paper by McGill University's Jennifer Hunt to an NBER labour studies programme conference asks whether the increase in foreign-born college graduates has contributed to innovation in the United States. Her paper, How Much Does Immigration Boost Innovation? (PDF), finds that it does: In this paper I have demonstrated ...
