Economics Roundtable

May 2014 Payroll Employment

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

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Jobs

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.


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Environmental and Urban Economics


May 23, 2016, 11:33 am, 1639011
4% annual macro growth would be great. Today, Paul Krugman offers a couple of suggestions for how to achieve this and he explores how the U.S economy grew in the 1990s. In June 2015, John Cochrane offered a much more specific plan that would achieve this key goal. ...


May 22, 2016, 5:33 pm, 1638792
Yale's President Peter Salovey appears to be defending Prof ErikaChristakis and Prof.Nicholas


May 22, 2016, 1:33 pm, 1638762
At the end of a semester, students fill out teaching evaluations. This short run assessment is becoming more common in judging hotels, restaurants and other entities besides for Econ Profs. Here is a piece talking about this issue. Here is Yelp's website. A couple of ...


May 21, 2016, 1:33 pm, 1638622
This will be a blog post about fixed costs associated with working; namely commute times and health insurance. Why? This article celebrates Sweden for launching a six hour work day experiment. The workers are happy and it is claimed that they extra productive per each of the 6 ...


May 20, 2016, 3:33 pm, 1638511
On May 10th, Eduardo Porter published this piece in the NY Times. I will reprint a single sentence of his and use this as a "Rorschach Test"."Though the decline of well-paid working class jobs is often portrayed as the inevitable consequence of globalization and technological change, it is ...


May 18, 2016, 9:33 pm, 1637842
Eduardo Porter is not an economist but the New York Times pays him to write its "Economics Scene". It appears that a physicist can express himself in a high profile outlet about economics (but not vice-versa). Permit me to directly quote from his piece today. The NY Times ...


May 18, 2016, 11:33 am, 1637680
To reduce its aggregate water consumption, UCLA will soon stop giving towels to users of its gym. This will not reduce overall water consumption if sweaty people bring their own clean towels that they wash at home. If there are economies of scale in washing towels, then aggregate water ...


May 17, 2016, 11:33 pm, 1637496
I am an ExxonMobil shareholder. I just received my nudge to vote on various corporate issues. If you read through thisdocument, you will see that Stanford's Michael Boskin is well compensated for his Exxon work as a Director of this huge company. Based on the disclosures on page 24, ...


May 17, 2016, 9:33 am, 1637272
Tom Steyer may want to call up some Berkeley economists this morning. Here is a direct quote from the NY Times that refers to him;“We object to the political agenda of the A.F.L.-C.I.O. being sold to a job-killing hedge fund manager with a bag of cash.” What is ...


May 16, 2016, 9:33 pm, 1637102
June 29th 2016 will offer an interesting natural experiment regarding San Francisco's homeless problem. The New York Times reports todaythat all of the local media outlets (including the San Fran Chronicle and other Internet, radio and TV) will "flood the zone" with extensive reporting and coverage of the homeless ...