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?


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Environmental and Urban Economics


September 28, 2016, 7:33 pm, 1679384
I am happy to read that UCLA has swapped out its diesel buses and now purchased clean buses (from China's BYD) but the entire fleet consists of 16 buses.  This article ignores the fact that probably 75% of UCLA's employee transport miles commuting to campus take place in private ...


September 28, 2016, 1:33 pm, 1679279
Times change.  USC Football is now ranked below both its College (#15) and its Economics Department (#24 based on REPEC productivity measures).    The WSJ ranking places USC where it deserves to be.   I have taught USC undergraduates for 3 semesters now and I will testify under ...


September 26, 2016, 3:33 pm, 1678647
Harvard's Ken Rogoff appears to embrace a Keynesian demand side view arguing that China's economy is slowing and that this will drag down the growth of the rest of the world's economy.   While he may be right in the short run, I disagree with his medium term view. ...


September 25, 2016, 9:33 pm, 1678390
The writers for the NY Times are a consistent bunch.  In the Book Review section today, there is a short discussion by Kim Tingley reviewing a new book called Eruption by Steve Olson.   See if you can spot the "behavioral economics" mindset that we are fools who are ignorant ...


September 25, 2016, 3:33 pm, 1678353
Ellen Barry has written an excellent piece that would leave Marx and Engels scratching their heads.  In Bangalore, India young rural women are moving to the big city to work in the factories.  The article sketches a highly optimistic arc that these women enjoy great improvements in their quality of ...


September 25, 2016, 3:33 pm, 1678352
First, a disclaimer.  I ride the Expo Line from Westwood to USC several days a week.   This Line extension to the beach cost over  1.5 billion dollars.    The new ridership numbers suggest that the monthly ridership has increased by 13,000 since the opening of the extension ...


September 24, 2016, 5:33 pm, 1678242
The economics of boycotts is pretty straightforward.  Customers who vote with their pocketbook and choose not to purchase a product can reduce the profits of their target if there is a consensus to boycott the "bad guy". If there is a neutral economic agent who does not have a taste ...


September 22, 2016, 3:33 pm, 1677785

September 20, 2016, 11:33 am, 1676985
In this uncertain age, I admire both economists and journalists who acknowledge that we know that we don't know certain risks that we face.  Such humility leads to better public policy.  With this preamble, read the following lead sentences from this Opinion Piece about SUNY's admissions process in the ...


September 18, 2016, 3:33 pm, 1673881
This blog post will expand on my recent blog post on breaking the political gridlock over carbon pricing.  As I have explained before, liberals and conservatives disagree over the "property right" concerning whether we have the right to produce GHG emissions for a price of $0.  Conservatives say "yes" and ...