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 and Urban Economics

November 25, 2015, 11:33 am, 1582027
Starting on November 30th, negotiation teams from all over the world will go to Paris. Many academics will be there but you won't see me. I"ll be at sunny USC.   The final treaty won't have a hard carbon cap with enforcement nor will there be a global carbon tax. ...

November 24, 2015, 9:33 pm, 1581681
The Washington Post reports about a new study that argues fossil fuel corporate interests (think of Exxon) have confused the American people through a relentless "mis-information" campaign regarding the causes of global warming.   PNAS has published the paper and it is available here. 

Here is the abstract ...

November 22, 2015, 11:33 am, 1580362
Cooling vests offer one pathway for keeping us cool in future summer heat and also warming us up when it is too cold.  The Economist Magazine reports  about ongoing innovation taking place at Finland's VTT Technical Research Center.  Do you see the simple econ 101 point that demand brings ...

November 21, 2015, 11:33 am, 1580138
Sociology lives on.  The NY Times reports that when NBA teams visit sleepy cities such as Indianapolis or Salt Lake City  that the visiting team players grow bored.  Hollywood has figured out that this is a great time to offer a free screening of new movies such as Spectre ...

November 19, 2015, 11:33 am, 1579078
While the challenges vary on a state by state basis, here is one current report card grading states on their preparation for climate change.  Here I list a set of "free market" policies to facilitate adaptation.  For those who have read my 2010 Climatopolis book, this will be ...

November 18, 2015, 5:33 pm, 1578632
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 in econometrics.   With Antonio Bento, Dana ...

November 17, 2015, 11:33 pm, 1578133
Now that I have moved from UCLA to USC, I have the opportunity to teach undergraduate urban economics again.  I taught this course at Columbia and Harvard back in the 1990s but I haven't taught it since 1998.   My friends are trying to help me to teach a good ...

November 15, 2015, 11:33 am, 1576689
To better appreciate my 2015 November Journal of Regional Sciences Lecture at the Portland Regional Sciences Meetings, you should read this NY Times long piece about melting Ice Sheets and their potential impact on our coastal cities.  Here is a quote relating the environmental science to real estate risk:

November 14, 2015, 7:33 pm, 1576581
I am back in the sunshine after spending two cold, gloomy, rainy days in Portland.  The Regional Science and Urban Economics Association Meetings just took place there.  While I do not like to sit in a Southwest tight seat for more than 2 hours, that was the only airline from ...

November 9, 2015, 11:33 am, 1573191
The NY Times reports that Texas households are being offered free electricity after 9pm because wind power generators are generating a surplus that cannot be stored and the physics of the local grid (which is not connected to the national grid) are such that the power must just flow ...