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”

November 27, 2014, 1:33 pm, 1378949

OPEC countries failed Thursday to agree to a cut in oil production that was desperately sought by some member states worried about the recent drop in prices.

Officials met for six hours of negotiations in Vienna. It would have been the first cut in production since 2008.


November 26, 2014, 1:33 pm, 1378480

November 26, 2014, 11:33 am, 1378403

“Air quality has improved dramatically over the past decades, and air quality will continue to improve under the existing standards,” said Howard Feldman, director of regulatory affairs for the American Petroleum Institute, which lobbies for the oil industry. “The current review of health studies has ...

November 25, 2014, 3:33 pm, 1377801
Marine Resource Economics
Vol. 29, No. 4, December 2014 Published by: The University of Chicago Press Special Issue: Seafood Markets and Aquaculture Production
Frank Asche and Atle G. Guttormsen, Guest Editors
Introduction Seafood Markets and Aquaculture Production: Special ...

November 24, 2014, 11:33 am, 1377005

In their paper,Francis and Vavrus suggested that a rapidly warming Arctic should interfere with thejet stream, the river of air high above us that flows eastwardaround the northern hemisphere and brings with it our weather. Sometimes, the jet stream flows relatively directly from west to east; but other times, ...

November 20, 2014, 9:33 pm, 1375373

Congressional climate wars were dominated Tuesday by the U.S. Senate, which spent the day debating, and ultimately failing to pass, a bill approving the construction of the Keystone XL pipeline. While all that was happening, and largely unnoticed, the House was busy doing what it does best: attacking science.

November 19, 2014, 1:33 pm, 1374406

From a reporter:

What I'm interested in is:

1. Your reaction to the study.

2. Your assessment of local fisheries based on what you have seen working with the SAFMC and well as the sanctuary.

My reply:

1a. That is an old study. Why is it drawing interest now?

November 19, 2014, 11:33 am, 1374330

Suggesting that I'm awesome!

You have received this email as confirmation that your Elsevier Editorial System (EES) account for [redacted] has been added to your consolidated user profile.

Currently, the following EES accounts are linked to your consolidated profile:

apen: Applied Energy
dib: Data in Brief
ecolec: Ecological Economics
ecolet: Economics Letters
forpol: ...

November 18, 2014, 9:33 am, 1373428

In the context of the ecological effects of reintroducing lost species into ecosystems, Last week I half-jokingly asked "..if reintroducing wolves is this great, what would happen if we reintroduced dinosaurs?" Well...

The fierce debate over whether to clone a woolly mammoth has been reignited by a ...

November 17, 2014, 1:33 pm, 1372870

I just sent this message:

AERE / SEA session participants,

Let's have our informal AERE Happy Hour after the Distinguished Guest Lecture ("Life as a Lab: Using Field Experiments in Economics" John List [see note below]) on Saturday. This is a great chance to meet old friends and new and organize your ...