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.
Finally, it's hard to argue against the payroll employment graph below (straight from FRED) and the comparison across recessions (courtesy of Calculated Risk).
Looking Up At 2001
In February 2001, U.S. payroll employment peaked at 132.5 million. The November 2011 figure of 131.7 million still falls 800,000 jobs short of the earlier peak.
Click on the chart for a larger version.
November Payroll Employment
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.
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Environmental and Urban Economics
February 4, 2012, 1:33 pm, 948248
"Down the road, this data will be used against you." Or so says one opponent of mandated installation of smart meters into homes. This quote comes from
this article spelling out Tea Party opposition to "green initiatives" seeking to reduce our carbon footprint. If you view climate change as ...
February 3, 2012, 11:33 am, 948107
Young people who are good at math are told that being an actuary might be a good job for them. As I understand it, actuaries take historical data and calculate conditional probabilities such as; what is the probability that a 45 year old white man will die in the next ...
February 2, 2012, 1:33 pm, 947931
In the developed West, individuals seek to have a comfortable retirement and have saved trillions of dollars in private savings and mutual fund holdings and retirement plans. The institutional investors are aware that U.S Treasuries pay 0% right now. Will the U.S Stock Market yield a 7% annual return ...
February 2, 2012, 1:33 am, 947815
In 2011, a book titled
Tropic of Chaos: Climate Change and the New Geography of Violence was published. The author is Christian Parenti. Here is the
amazon page for this strange book.
From Google Books, I quote from his page 8; "Societies, like people, deal with ...
February 1, 2012, 3:33 pm, 947726
I was surprised to read that Japan's Western region has suffered many deaths due to recent heavy snow storms. The details are
posted here. The article states the following; "Western Japan has been battered by one snowstorm after another since the beginning of the year, overwhelming cash-strapped cities struggling ...
January 31, 2012, 1:33 pm, 947457
This WSJ article about Penn State raises some interesting issues. Ambitious public universities are finally recognizing that state governments will no longer fund them. Anticipating that overhead from the NIH and NSF is about to dry up, such schools are aggressively raising out of state tuition. Parents of potential ...
January 31, 2012, 11:33 am, 947428
My son has been sick the last couple of days. When I pick him up at school, I see that many parents send their sneezing and coughing children to school. Who are they and why do they do this? I don't think they are cruel to their children and I ...
January 29, 2012, 5:33 pm, 947095
When I entered the University of Chicago's Ph.D. in Economics in 1988, I believe that my entering class was 50% foreign. Today, I would guess that UCLA's entering class is 20% domestic and I've heard similar numbers for other programs. If fewer young U.S citizens enter Ph.D programs and ...
January 29, 2012, 1:33 pm, 947070
We know that the CPI doesn't account for the fact that different income groups consume different bundles of goods. If you are concerned about the CPI for the rich (and hence the true purchasing power for the 1%) then you should
read this article about private school tuition ...
January 28, 2012, 7:33 pm, 947008
At UCLA, there are often working paper reprints sitting around in the mail room. I'm guy who knows how to read and I skim through these piles to see if there is any new work that I might learn from. A paper called
"Sovereign Defaults: The Price of Haircuts" ...
