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”

September 19, 2014, 3:33 pm, 1338158

Tyler Cowen:

That is a new paper (pdf) by John Cawley, here is the abstract:

This guide, updated for the 2014-15 job market season, describes the academic market for new Ph.D. economists and offers advice on conducting an academic job search. It reports findings from published papers, describes practical details, ...

September 19, 2014, 3:33 pm, 1338157

Ooops! wrong title (sigh) ...

As we’ve pointed out before, economics and business journals have few retractions compared with the other academic literature. Opinions vary on why this is, but the fact that only a few journals have plagiarism policies can’t help.

Research Papers in Economics, or RePEc, an organization ...

September 19, 2014, 3:33 pm, 1338156
From the UCSB Bren School of ES & M:

In March we told you about a paper written by Bren professor Chris Costello and former Bren ...

September 16, 2014, 9:33 am, 1335783

Spencer Banzhaf:

In a new RFF discussion paper, “Valuation of Ecosystem Services in the Southern Appalachian Mountains,” RFF colleagues Dallas Burtraw, Alan Krupnick, and Juha Siikamäki and I, along with Susie Chung Criscimagna of Eden Housing, Bernard Cosby of the University of Virginia, and David Evans of EPA, estimate ...

September 16, 2014, 9:33 am, 1335782

The WSJ'sNumbers "guy":

The true cost of electricity is difficult to pin down. That’s because a number of inputs comprise it: the cost of fuel ...

September 15, 2014, 11:33 am, 1335152

A complex story in the Guardian about California Almond production, water, drough and government regulation provides great fodder for an introductory microeconomics class (oh, and it provides good coverage for our favorite Aguanomist, David Zetland):

Touted as the ultimate superfood and an essential ingredient ...

September 12, 2014, 5:33 pm, 1334188

From the inbox:

Dear Dear Author,

We shortlisted you after reading your thoughtfull research work:
"Research Article"

Impact Factor 3.274 Our journal International Journal Management Sciences and Business research ISSN-2226-8235)with good reputation and published by USA and UK PHD Doctors Collaboration and referred from ...

September 11, 2014, 5:33 pm, 1333521

September 11, 2014, 3:33 pm, 1333445

From The Chronicle of Higher Education:

The Internet can be a nasty place, as academics know well from Rate My Professors.

It is on that website that faculty members might learn, for example, that their students think they are “useless” or a “general moron,” and say anyone “would enjoy eating ...

September 10, 2014, 9:33 am, 1332503

Here is one we are watching closely:

H.R. 5069 would allow the Department of the Interior (DOI) to raise the price charged for Federal Migratory Bird Hunting and Conservation Stamps (referred to as federal duck stamps). Federal duck stamps are annual permits sold by the federal government to hunt migratory waterfowl. ...