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 .
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.
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?
The Economics Roundtable is sponsored by EconModel.
The Classic Economic Models cover micro, macro, and financial markets.
Market Power (Phil Miller)
"Selected Musings by an Academic Economist on the Power of Markets”
Here is the abstract to a new NBER by Christopher Avery, Brian Cadman, and Gavin Cassar entitled "Academics vs. Athletics: Career Concerns for NCAA Division I Coaches."
We analyze the promotions and firings of NCAA Division 1 college basketball and college football coaches to assess whether these coaches are rewarded for the ...
â€śWhen a key responsibility of a manager is to allocate more or less attractive tasks, subordinates have an incentive to work hard and demonstrate their talents. As a new manager is less well informed, management dismissals reinvigorate this tournament competitionâ€”but only in sufficiently homogeneous teams. We investigate this hypothesis using ...