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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Environmental Economics

"Economists on Environmental and Natural Resources: News, Opinion, and Analysis”

October 31, 2014, 3:33 pm, 1361811

October 31, 2014, 11:33 am, 1361641

From the inbox:

Beginning in 2015, Cambridge University Press will be publishing the Journal of Benefit-Cost Analysis on behalf of the Society for Benefit-Cost Analysis.

In an announcement, Cambridge University Press noted that “[t]his new partnership marks a rebranding of the journal in terms of both appearance and ...

October 31, 2014, 9:33 am, 1361558

With that title we're trying to boost our traffic and maybe even get Typepad to crash:

In 2011 Steven Schlozman, an assistant professor of psychiatry at Harvard Medical School, went on a late-night radio show and said he had recently discovered a paper about a mysterious disease, called Ataxic Neurodegenerative Satiety ...

October 31, 2014, 9:33 am, 1361557

Three PhDs? What about the opportunity cost of time spent in school? Or did he get all three simultaneously?

Right off the bat, you can count out Robert B. Banner, otherwise known as the Hulk. While Mr. Banner has three Ph.D.’s from the California Institute of Technology, at some point ...

October 30, 2014, 11:33 am, 1360766

Thank goodness that "low cost electricity" is not the penultimate goal in some parts of the world:

These are rough times for carbon taxes, aimed at mitigating climate change. Australia recently repealed ...

October 29, 2014, 1:33 pm, 1359987

I can't wait to see:

How they draw the high priced economic consultant hired by Riverway Chemical to criticize the contingent valuation method as junk science (something like this guy?) Mark Trail punch the consultant in the face!

Note: When was the ...

October 29, 2014, 11:33 am, 1359887

"People are just not very good at math and they find it particularly hard to make estimates about very large numbers or very small numbers," said Bobby Duffy, global director of the Ipsos Social Research Institute.


October 29, 2014, 11:33 am, 1359886

From the inbox (emphasis added):

My name is [redacted] and I am the SEO expert of a leading SEO service provider company. As per my analysis, your website is not performing well in the Google organic search. Also your traffic is poor from last couple of months due to some of ...

October 28, 2014, 1:33 pm, 1359156

I've been noticing them all the time!

The number of tornadoes recorded by the National Climatic Data Center has increased in recent years, but that doesn’t mean there have been more twisters.

“The changes there are huge but almost certainly due to reporting changes,” said Harold Brooks, a scientist with ...

October 28, 2014, 11:33 am, 1359075

I don't know the answer, but I do know that 64 is too many.