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?

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”

July 24, 2014, 11:33 am, 1304744

When I heard the phrase "Margarita Declaration" I had much higher (and drunker) hopes than 131 environmental groups banding together to call for an end to capitalism.

A UN-backed conference on climate change ended with a call to end capitalism. The conference, organised by the Venezuelan government, saw 130 ...

July 24, 2014, 9:33 am, 1304667

I think so:

Gov. Rick Perry of Texas and Senator James M. Inhofe of Oklahoma are among the most vocal Republican skeptics of the science that burning fossil fuels contributes to ...

July 23, 2014, 3:33 pm, 1304001

"You show me a polluter, I'll show you a subsidy; I'll show you a fat cat who's using political clout to escape the discipline of the free market and force the public to pay his production costs. That's what all pollution is -- it is always a subsidy."~ Robert F. ...

July 23, 2014, 3:33 pm, 1304002

And theses ensue:

Now, federal officials are weighing putting [the sage grouse] on the endangered species list — setting off a mad scramble among the unlikeliest of allies to save the bird and avoid disrupting the nation’s enormous growth in energy production. With a range stretching ...

July 23, 2014, 3:33 pm, 1304000

I know I've fallen behind on my 24 viewing for the season, but after this, I'm ready for the season to take some odd turns soon:

TheTour de Francecan be unforgiving and crushingly heartbreaking. On Sunday's stage 15, Jack Bauer experienced this firsthand.

Does Jack infiltrate the U.S. Postal ...

July 23, 2014, 3:33 pm, 1303998

A new article in Nature: Climate Change says that the recent 15 year non-warming period is fully explained by climate models that account for El Nino and La Nina.

The question of how climate model projections have tracked the actual evolution of global mean surface air temperature ...

July 23, 2014, 3:33 pm, 1303999

My favorite is 1% milk* with chocolate malt Ovaltine:

A newly released report showing that higher temperatures cause cows to give less milk is uniting climate and animal rights activists to take immediate action to counteract the negative effects of bovine heat stress.

“Cows are happy in parts of Northern California ...

July 18, 2014, 1:33 pm, 1303180

July 18, 2014, 9:33 am, 1303045

The headline says "mountaintop removal for coal hurts water quality and harms fish." Well, we knew that. Luckily, the article actually gives an idea of the magnitude:

In West Virginia’s Appalachian mountains, fish are vanishing. The number of species has fallen, the populations of those that remain are down, and some ...

July 18, 2014, 7:33 am, 1302970

Matthew J. Kotchen and Erin T. Mansur:

In the absence of legislation for a US national climate policy, regulatory responsibility has fallen to the US Environmental Protection Agency (EPA). In March 2012, the EPA announced a proposed carbon pollution standard for new power plants. Then in September 2013, the EPA withdrew ...