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”

May 31, 2016, 11:33 am, 1641198

On April 30, 2012,I wrote:

Here is my solution to any aquatic invasive specie problem. Have the government start a covert marketing campaign designed to convince the public that the invasive specie is in fact a delicacy. They can even rename the specie to make it sound appetizing (think Toothfish ...

May 27, 2016, 1:33 pm, 1640461

From the Onion:

Following what they deemed to be a peculiar interaction with a number of possible implications, the nation’s top overthinkers gathered for an intensive three-day symposium this week to determine what that’s supposed to mean.

Thousands of overthinkers from across the country, who were seen furrowing their brows and ...

May 27, 2016, 9:33 am, 1640372

I figure since John put it on Facebook, I can put it here...

(function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); = id; js.src = "//
on=v2.6"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));

May 27, 2016, 9:33 am, 1640371

Retraction Watch:

Citation omissions in an economics preprint have set off a wave of recrimination and speculation on a widely read economics discussion board.

Commenters accuse the authors of purposely omitting citations that would have undermined the paper’s claims to novelty and contributions to the field, leveling acrimony and personal attacks. ...

May 27, 2016, 9:33 am, 1640370

Margaret Walls:

As Memorial Day approaches and the National Park Service’s 100th anniversary draws near, I’ve been looking back at a pair of 2009 reports on America’s “great outdoors.” An RFF report that I coauthored reviewed the status of public lands, demand for outdoor recreation, and conservation funding trends. The ...

May 27, 2016, 9:33 am, 1640369

... that I'm a very famous sports economist*:

This study shows that fans and people living in the region of 28 Football Bundesliga teams from all three divisions are willing to support their team financially. Survey respondents were asked for their willingness-to-pay to avoid a negative outcome (e.g., relegation) and ...

May 26, 2016, 9:34 am, 1640060

Law of Demand: As prices go up, the amount demanded goes down, and vice-versa.

Impact: As prices rise two things happen, people demand less of that which costs more, and people will switch to what are now relativelycheaper substitutes


And Andy Puzder, CEO of Carl's Jr. and Hardee's, told Business Insider ...

May 26, 2016, 9:34 am, 1640059

Richard G. Newell named next president of RFF:

Resources for the Future (RFF) today announced the appointment of Richard G. Newell of Duke University as its next president.

He will succeed current RFF president and former US congressman Phil Sharp, who will retire at the end of June after 11 years at ...

May 26, 2016, 9:34 am, 1640058

May 25, 2016, 11:33 am, 1639732