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 .

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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 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, 1302971

Anthony C. Fisher and Phu V. Le:

Climate scientists, and natural scientists more generally, believe that climate change is a major, perhaps the most important, problem facing humankind this century, and that it is increasingly linked to extreme weather events. However, the impression one gets from much of the economic literature, ...

July 18, 2014, 7:33 am, 1302972

Kenneth J. Arrow, Maureen L. Cropper, Christian Gollier, Ben Groom, Geoffrey M. Heal, Richard G. Newell, William D. Nordhaus, Robert S. Pindyck, William A. Pizer, Paul R. Portney, Thomas Sterner, Richard S. J. Tol, and Martin L. Weitzman:

Should governments use a discount rate that declines over time when evaluating the ...

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 ...

July 17, 2014, 11:33 am, 1302457

Australia has repealed their Carbon Tax. I'm sensing a need for some snark...

Opposition politicians and environmentalists in Australia reacted with dismay Thursday to the country’s repeal of laws requiring large companies to pay for carbon emissions, saying that it made ...

July 17, 2014, 9:33 am, 1302374

Google Scholar Blog (2014 Scholar metrics released):

Scholar Metrics provide an easy way for authors to quickly gauge the visibility and influence of recent articles in scholarly publications. Today, we are releasing the 2014 version of Scholar Metrics. This release is based on citations from all articles that were ...

July 17, 2014, 9:33 am, 1302373

Maureen A. Pirog (former editor at JPAM):

How do you get your work published? I recently offered readers of the Journal of Policy Analysis and Management (JPAM) a top 10 list of things to do and not do if you want your work published in peer-reviewed journals. It was based on ...

July 16, 2014, 11:33 am, 1301851

The Federal Highway Trust Fund will live on for another 6 months or so:

In April, Mr. Obama sent Congress a proposed transportation program that would spend $302 billion over four years, financed both by traditional gasoline taxes and the elimination of ...

July 16, 2014, 9:33 am, 1301752

Ohio typically would prefer that consumers and constituents be able to make an informed decision, instead of dictating the use of the recreational waters of the state