Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

Click on the image to get a bigger version.


The best summary of the state of our economy is the graph (below) of employment as a fraction of population for people over 16 years old. The decrease is large, but the most troubling feature of the graph is the flat trend .

Click on the image to get a bigger version.

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.

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.


The Economics Roundtable is sponsored by EconModel.

The Classic Economic Models cover micro, macro, and financial markets.

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Economist’s View (Mark Thoma)

October 7, 2015, 3:03 am, 1554287

Robert Stavins:

The Papal Encyclical and Climate Change Policy: ...I’m inspired by a marvelous essay by Yale professor William Nordhaus, “The Pope & the Market,”... However, my thoughts are completely independent from his...

With that preamble out of the way, here are the reactions of one environmental economist, ...

October 7, 2015, 3:03 am, 1554288

October 6, 2015, 3:03 pm, 1554009

Paul Krugman:

TPP Take Two: I’ve described myself as a lukewarm opponent of the Trans-Pacific Partnership; although I don’t share the intense dislike of many progressives, I’ve seen it as an agreement not really so much about trade as about strengthening intellectual property monopolies and corporate clout in dispute settlement ...

October 6, 2015, 3:03 pm, 1554010

Chris Dillow:

Demand deniers: The Tories seem ... oblivious to problems of weak demand....

Jeremy Hunt tries to justify cutting tax credits by claiming that he wants to create a culture of hard work.

Let's leave aside the fact that working long hours is often a sign a ...

October 6, 2015, 3:03 pm, 1554008

Ezra Klein:

Why Marco Rubio is insisting that his massive tax cuts will pay for themselves,explained: On Tuesday, Marco Rubio told CNBC's John Harwood that his massive tax cuts — which estimates have found would blow a roughly $4 trillion to $5 trillion hole in the deficit — ...

October 6, 2015, 1:03 pm, 1553923

I have a new column:

Economic Growth vs. Social Insurance—Why Can’t We Have Both?: Why do Republicans on the campaign trail tend to emphasize policies that are focused on enhancing long-run economic growth while Democrats tend to focus more on immediate problems such as high unemployment? Republicans have a ...

October 6, 2015, 3:03 am, 1553640

October 5, 2015, 3:03 pm, 1553389

October 5, 2015, 9:03 am, 1553195

At MoneyWatch

Is Donald Trump right to call NAFTA a "disaster"?: Recently, Donald Trump made a strong claim about the North American Free Trade Agreement (NAFTA) in an interview on CBS 60 Minutes:

"It's a disaster. ... We will either renegotiate it, or we will break it. Because, you ...

October 5, 2015, 5:03 am, 1553115

Why are Republicans hostile to initiatives that promote wind and solar energy?:

Enemies of the Sun, by Paul Krugman, Commentary, NY Times: Does anyone remember the Cheney energy task force? Early in the George W. Bush administration, Vice President Dick Cheney released a report that was widely derided ...