Economics Roundtable

May 2014 Payroll Employment

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

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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 .

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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?

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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”

August 30, 2016, 5:33 pm, 1668924

Conference and Meeting: March 16-17, 2017

Pre-conference Professional Development Workshops: March 15, 2017

The Society for Benefit-Cost Analysis (SBCA) is an international group of practitioners, academics and others who are working to improve the theory and application of ...

August 30, 2016, 3:33 pm, 1668874

From Consensus Among Economists - An Update:

Three of the propositions focus on environmental policy. In contrast to the moderate consensus of disagreement found in the two earlier surveys, the 2011 sample now exhibits a substantial consensus of disagreement with the proposition that reducing the power of the Environmental Protection ...

August 30, 2016, 1:33 pm, 1668828

Using the relationship between rents for New York city apartments and commute times, finds that the average commuter is willing to pay $56 a month to reduce commute times by 1 minute.

Here's a picture:

August 29, 2016, 3:33 pm, 1668541


This study applies the methodology of a recent study that ranks economics departments at national universities in the U.S. South to economics faculties at regional universities in the same geographic location. Ranking results from a “core” (i.e., the top five faculty researchers) of each institution's economics faculty reveals that Appalachian ...

August 29, 2016, 9:33 am, 1668412

August 29, 2016, 9:33 am, 1668411

This is trulyfrightening:

Cheating has become second nature to many students. In studies, more than two-thirds of college students say they’ve cheated on an assignment. As many as half say they’d be willing to purchase one. To them, higher education is just another transaction, less about learning than about obtaining ...

August 26, 2016, 1:33 pm, 1667936

Humans are not good for the planet. But humans are the only ones capable of judging good from far as we know right now. So if humans didn't exist, would the planet be better off or worse off? Who would judge?

I'm confused.

And all of that is irrelevant to ...

August 26, 2016, 11:33 am, 1667890

The President is dramatically expanding the Papahanaumokuakea Marine National Monument:

President Obama is set to vastly expand a marine sanctuary northwest of the main Hawaiian Islands, White House officials said Thursday, creating the world’s largest protected marine area as he seeks to cement ...

August 26, 2016, 9:33 am, 1667847

Abstract from O. Ashton Morgan, John C. Whitehead & William L. Huth, Journal of Environmental Economics and Policy, Vol 5, No 3,Pages: 283-297:

Traditional revealed and stated preference models consider a typical individual's behavioural responses to various policy-based information treatments. For some cost–benefit applications in which resource managers are concerned with ...

August 26, 2016, 9:33 am, 1667846

Doall industries react like this when their risky product is recognized as such?

It may seem obvious that taxing sugary drinks causes people to drink less of them. But that’s actually controversial.

Now a new study out of Berkeley, Calif., adds to the evidence that our intuition is right.