Economics Roundtable

Technical Problems 1/21/15

The website was down for a day and a half, but is back up now.

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.


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Environmental Economics

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

February 26, 2015, 9:33 am, 1429502

The guardian of academic integrity or something? I should blissfully end being snowed in and not having to teach negative externality in an 8 am micro class. From the inbox:

Classes that begin before 12:30 p.m. on Thursday, Feb. 26, are canceled. Classes that begin at 12:30 p.m. and later will be ...

February 26, 2015, 9:33 am, 1429501

Christian Neumann, Linwood Pendleton, Marianne Kettunen and Tundi Agardy:

The value of ecosystems and the associated services they provide is receiving growing attention both in the public and decision-making arena. The language of Ecosystem Services essentially translates the complexity of ecological processes and functions into descriptors that define the socio-economic-ecological link. ...

February 26, 2015, 9:33 am, 1429500

I'd like to know too:

A Democratic member of Congress is digging into the funding of a handful of researchers who have questioned the prevailing view on the causes of climate change, The Washington Post reports.

Arizona’s Raul M. Grijalva, the top Democrat on the House of Representatives’ Committee on Natural Resources, ...

February 25, 2015, 5:33 pm, 1429070

Generally speaking, people are getting better and better all the time at managing their own environmental footprints, and the effect that they have on the planet. But, as the world grows ever more environmentally conscious, and as sustainability becomes more a habit of everyday existence, it’s time for businesses – ...

February 25, 2015, 9:33 am, 1428741

Phil Miller:

The American Economic Association now has JEL classification codes for Sports Economics and subareas within the field.  Here are the codes:

Z2  - Sports Economics

Z20  - General

Z21  - Industry Studies

Z22  - Labor ...

February 25, 2015, 9:33 am, 1428740

Something to do at lunch time:

RFF Seminar

February 25, 2015
12:45–2:00 p.m. EST

A light lunch will be provided starting at 12:30 p.m.

RFF First Floor Conference Center
1616 P Street NW, Washington, DC

Seating is limited and provided on a first come, first served basis. Registration is required.

This ...

February 24, 2015, 11:33 am, 1428018

I'm teaching sophomore level environmental and resource economics (with no prerequisite). We just finished covering the principles level negative externality market model. Here is the problem set:

Consider the following model:

Qd=200-20P Qs=20P MEC=2 MSC=MPC+MEC


February 24, 2015, 11:33 am, 1428017
Professor Krugman:

Lots of new music I intend to feature soon. But the wonders of online video mean that I also get to watch old live performances, including by bands that I was oblivious about at the time. And here’s the ultimate complain about the weather song, more or less ...

February 24, 2015, 11:33 am, 1428016

From the inbox:

All classes that meet before 2 p.m. Tuesday, Feb. 24, are now cancelled. Classes that meet at 2 p.m. and later will meet as scheduled. If this decision changes, notification will be sent by noon.

The adverse weather policy is in effect for staff employees, as follows:

1. Mandatory employees should ...

February 24, 2015, 9:33 am, 1427935

From The Hill's Overnight Energy and Environment email:

Sen. Lisa Murkowski (R-Alaska) and the rest of the Energy and Natural Resources Committee will get a chance Tuesday to challenge Interior Secretary Sally Jewell on her department's budget request for fiscal year 2016. 

Jewell will be the sole witness at the hearing on Interior's ...