Economics Roundtable

Database Maintenance 7/4/15

Routine database maintenance will induce some duplicated items for the next day or two.


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.


Jobs

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”


August 4, 2015, 3:33 pm, 1521852

The Onion:

President Obama unveiled Monday a plan to increase the country’s clean power usage that many are calling the strongest action ever taken by a U.S. president to combat the effects of climate change. Here are some key details of Obama’s climate change plan: Immediate removal of smokestacks atop White House Designates ...


August 4, 2015, 3:33 pm, 1521855

Krugman:

One of the most obvious facts about the U.S. political scene is also a fact most pundits refuse to acknowledge: the extreme polarization we now experience, the complete disappearance of any kind of political center, is not a two-sided phenomenon. Democrats haven’t moved drastically to the left — if ...


August 4, 2015, 3:33 pm, 1521854

Just checking on the Sunstein tweet, this is from EPA's Regulatory Impact Analysis (PDF):

The answer is yes. By 2030, the co-benefits are estimated to ...


August 4, 2015, 3:33 pm, 1521853

RFF says "I told you so":

Over the past few weeks, we’ve written about ten things to look for (see the links below) when EPA releases its final Clean Power Plan—which the agency did today. In the days and weeks to ...


August 4, 2015, 1:33 pm, 1521770

Yesterday I commented on Mankiw's post where he inexplicably linked carbon tax revenue to lower income taxes, as is his wont. We received a comment about the optimal Pigouvian tax. I think this excerpt summarizes well:

Even in the simplest settings there's also a tax-interaction effect whereby ...


August 4, 2015, 1:33 pm, 1521769

The new climate change rule makes a lot of economic sense; the cost is justified by the public health benefits alone. http://t.co/PYX8sfPtu1

— Cass Sunstein (@CassSunstein) August 3, 2015


August 4, 2015, 11:33 am, 1521686

Ohio and other states that rely heavily on coal for electricity will have to make major changes in how they power their homes and businesses over the next 15 years under President Barack Obama’s unprecedented plan to drastically curb greenhouse-gas emissions.

Obama said on Monday that the average household would save ...


August 4, 2015, 11:33 am, 1521685

Ohio and other states that rely heavily on coal for electricity will have to make major changes in how they power their homes and businesses over the next 15 years under President Barack Obama’s unprecedented plan to drastically curb greenhouse-gas emissions.

Obama said on Monday that the average household would save ...


August 4, 2015, 11:33 am, 1521684

The surge in SUV sales is due in part to relatively low gasoline prices, which ended July at about $2.70 per gallon nationwide.

via www.dispatch.com

Gas and cars are complementary goods. When the price of one falls, the demand for the other increases. In this case, the price of gas has ...


August 3, 2015, 1:33 pm, 1521010