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”

April 27, 2016, 1:33 pm, 1630457

Sea turtle eggs! Comment #29 from Referee #2:

Then you call your results "tentative" in the last paragraph – after I’ve pushed through 26 pages of frustrating doubts created by weak exposition. Sorry, I’m really not a happy reader!!

From the punctuation dictionary:

There is some dispute in regards to ...

April 27, 2016, 9:33 am, 1630375

From the Walker College Sustainable Business News website:

The Department of Economics and the Center for Economic Research & Policy Analysis (CERPA) at Appalachian State University will host its 4th annual Appalachian Experimental and Environmental Economics Workshop on April 29-30, 2016  at the Blowing Rock Art & History Museum (BRAHM) in Blowing ...

April 26, 2016, 3:33 pm, 1630103

From Referee #2:

Unfortunately, I find the exposition of the paper rather to be substantially weaker than I would expect for an article of this type at any journal .... I found several aspects of the process for how the survey questions were assigned or presented to respondents, and how the ...

April 26, 2016, 1:33 pm, 1630061

Interesting results, but the policy recommendations seem like killing an ant with a sledgehammer.

In the first study of its kind, Lawrence Berkeley National Laboratory (Berkeley Lab) researcher Alan Meier, working with Yuche Chen of the National Renewable Energy Laboratory, have estimated the fuel consumption penalty of this popular and fast-growing ...

April 22, 2016, 11:33 am, 1629092

The WSJ Weekly Review reminds me:

EPA Defends Cost of 2015 Mercury Rules in Updated Analysis
by: Amy Harder
Apr 16, 2016
Click here to view the full article on

TOPICS: Environmental Regulation

SUMMARY: The Environmental Protection Agency issued an updated cost analysis, defending its issuance of the first-ever federal ...

April 21, 2016, 9:33 am, 1628678

In evaluating benefits and costs, preferences matter. 

For the most part, people like milder weather.  That's why people move to Florida and Arizona during the winter (that and tax breaks, but let's stick with the weather for now).  As temperatures increase, people get more of what they like: longer milder weather. ...

April 20, 2016, 9:33 am, 1628294

Margaret Walls (emphasis added):

The parks have been blessed, and cursed, with an overwhelming number of visitors in recent years—a record 307 million in 2015. After many years in which visitation stayed relatively constant, many parks have seen increases of 20 to 25 percent over the past 10 years. ...

This growth ...

April 19, 2016, 5:33 pm, 1628104

From the 2015 SAFMC SEP meeting:

April 19, 2016, 5:33 pm, 1628102

Yoram Bauman on carbon taxes on

Yoram Bauman learned about the idea that would change his life, and the course of the world, as a nerdy undergraduate at Reed College.

The economics professor's pitch was so simple he couldn't shake it.   We should make bad ...

April 19, 2016, 5:33 pm, 1628103

Reed Watson:

Today’s myth: As taxpaying citizens, we should not pay to visit our national parks.

Fact: Our national parks are chronically underfunded and visitor fees provide critical, though currently insufficient, funding for park operations and maintenance.

We Americans fancy ourselves a nation of conservationists. We claim ecologically sensitive and culturally ...