Economics Roundtable
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.
EconModel
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Market Power (Phil Miller)
"Selected Musings by an Academic Economist on the Power of Markets”
I quibble with one small point. Trade doesn't take place because somebody values something. Trade takes place because somebody values something and somebody else is willing and able to sell it to him at a lower cost than if he made it himself.
That point aside, ...
There is an article in this morning's Washington Post on the discussions the Fed members had regarding the state of the economy in 2006, just as the housing bubble popped.
In his first meeting as Fed chairman, in March 2006, Ben S. Bernanke noted the slowdown in the housing ...
From the WSJ:
At the Top of Texas Catholic Superstore in Amarillo, owner Moneisa Thompson said she noticed one-ounce packages of frankincense disappearing from displays in her 3,800-square-foot store about four months ago. She has since moved the packages into a glass case.
"We'd go through the count and we'd ...
From the New York Times comes a story describing the end of the ethanol tax credit in the US.
The tax break, created more than 30 years ago, had long seemed untouchable. But in the last year, during which Congress was preoccupied with deficits and debt, it became a ...
From the New York Times comes a story describing the end of the ethanol tax credit in the US.
The tax break, created more than 30 years ago, had long seemed untouchable. But in the last year, during which Congress was preoccupied with deficits and debt, it became a ...
From the WSJ:
At the Top of Texas Catholic Superstore in Amarillo, owner Moneisa Thompson said she noticed one-ounce packages of frankincense disappearing from displays in her 3,800-square-foot store about four months ago. She has since moved the packages into a glass case.
"We'd go through the count and we'd ...
A Mythbusters experiment involving a homemade cannon goes horribly wrong...
The cantaloupe-sized cannonball missed the water, tore through a cinder-block wall, skipped off a hillside and flew some 700 yards east, right into the Tassajara Creek neighborhood, where children were returning home from school at 4:15 p.m., authorities said.
There, ...
No.
Vicky Bell told WPSD-TV that she called 911 when her mobile home in Obion County caught fire. Firefighters responded but did not put out the blaze because she does not subscribe to the local fire service.
QED. Via Kip Esquire.
From the AP (ia Chris Tozzo).
Sen. Charles E. Schumer, D-N.Y., said he's proposing a bill that that would give the U.S. Department of Justice authority to crack down on "unscrupulous drug distributors" who sell hospitals life-saving prescription medicines in short supply at huge markups.
The problem has been growing this year, as ...
The economic impact of sports is usually framed in terms of how many jobs it generates and how much spending it generates. But this misses the point. Here's commenter bobby over at my most recent post (on jobs and income creation with sports!) at The Sports Economist:
i find ...