Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

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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”

November 23, 2015, 1:33 pm, 1580811

"Has Exxon been funding these organizations?" she asked.

"Well, the answer is yes," [Kenneth Cohen, ExxonMobil's VP of Public and Government Affairs] replied. "And I will let those organizations respond for themselves."

Putting aside the fact that no one from any of the denier groups was on the program, Cohen's admission ...

November 23, 2015, 1:33 pm, 1580812


Definition: Goods A and B are complements if as the price of good A falls (rises), the demand for good B increases (decreases).

Example: Automobiles and gasoline

Evidence: From the Wall Street Journal

November 21, 2015, 5:33 pm, 1580203

John C. Whitehead (@johnwhitehead81) tweeted at 3:08 PM on Sat, Nov 21, 2015:
The unofficial AERE (Sat) happy hour will commence soon after the last AERE session #SEANola15

November 21, 2015, 5:33 pm, 1580202

November 20, 2015, 9:33 am, 1579684

Looks like the immigration dialogue might need to change:

For the first time in more than four decades, more Mexican immigrantsare returning to their home country than coming to the UnitedStates,according to a report released Thursday.

November 19, 2015, 11:33 am, 1579080
Good advice from The Onion:

Describing the precaution as a financially prudent decision for all households, a panel of the nation’s top economists recommended Wednesday that Americans set aside money from each paycheck so they will be ready in the event Dire Straits reunites for a tour. “We suggest placing a ...

November 19, 2015, 11:33 am, 1579079

And, as always,Matt Kahn makes a timely suggestion:

In the past, I've done some writing on social capital and civic engagement. I just put the theory to the test by volunteering to serve on USC Econ's PHD Admissions Committee. USC Economics is world renown for its excellence ...

November 18, 2015, 5:33 pm, 1578633

October's temperature was the most above-normal month in history. It was 1.76 degrees Fahrenheit (0.98 degrees Celsius) above the 20th-century average.


November 17, 2015, 1:33 pm, 1577852

Not like the brazen giant of Greek fame,
With conquering limbs astride from land to land;
Here at our sea-washed, sunset gates shall stand
A mighty woman with a torch, whose flame
Is the imprisoned lightning, and her name
Mother of Exiles. From her beacon-hand

November 17, 2015, 7:33 am, 1577625

In March 2003, soon after the U.S. invaded Iraq, a news outlet predicted the war would be a colossal disaster that would ultimately destabilize the Middle East and fuel the rise of anti-Western forces willing to die for a fundamentalist cause.