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 .

Click on the image to get a bigger version.

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.

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Worthwhile Canadian Initiative

"Who would have thought an economics blog could be this exciting?”

August 24, 2016, 11:34 am, 1667228

This post is not as clear as it should be. Sorry. It's because my head is not very clear either. I wrote this to try to get my head clearer.

An imaginary country uses 7 different media of exchange, issued by 6 different banks.

There is one alpha bank, and 5 beta ...

August 17, 2016, 9:34 am, 1665186

Many grocery stores have a bulk food section, where shoppers scoop flour or nuts or spices from big bins into little plastic bags, and then take them up to the cash, where each individual purchase is weighed and priced.

There are no brand names. There is no fancy packaging. Shoppers do ...

August 15, 2016, 9:34 am, 1664395

The question: What causes unemployment?

The answer: Over the fold, taken from a textbook currently used for O-level (roughly grade 11) social studies in Pakistan.

August 14, 2016, 9:34 am, 1664203

Take this post with a truckload of salt. This is a second in my series in which "Lost Macro Farmboy tries to get his head around Urban Economics". Think of it as sceptical pushback. I might easily be wrong, but those who know a lot more Urban Economics ...

August 13, 2016, 11:34 am, 1664085

During my time as a professor, I've had a series of offices with a series of big, solid, 1970s oak desks.

I ...

August 12, 2016, 9:34 am, 1663823

As irritating as it was, SSHRC's infatuation with Research in Buzzword Studies is not why Insight Grant (IG) success rates have stayed so low, even as the budget envelope has increased. The problem is the hard-won budgetary rigour that was established during the last years of the old Standard Research ...

August 11, 2016, 9:34 am, 1663429

When SSHRC replaced the old Standard Research Grant (SRG) program with the Insight Grant (IG) program, it did more than simply increase the budget for research grants. It also introduced "priority research areas" (see Frances on this here) that would receive special attention. It turned out that the amounts ...

August 10, 2016, 3:34 pm, 1663140

Earlier this month, the Ontario Council of Hospital Unions issued a media release for their The Fewer Hands, Less Hospital Care report, that made the following statement: “Based on the latest figures from the Canadian Institute for Health Information (CIHI), Ontario government funding for hospitals is $1,395.73 per ...

August 10, 2016, 9:34 am, 1663014

In the first post of this series, I noted that much of the reduction in SSHRC research grant success rates during the transition from the old 3-year Standard Research Grants (SRG) to the new 5-year Insight Grants (IG) could be explained by the stock-flow dynamics of changing grant durations. But ...

August 9, 2016, 11:34 am, 1662614

I've participated a few times in the adjudication process for the Social Sciences and Humanities Research Council (SSHRC) research grant programs: twice as a reviewer, and three times as chair. (Chairs have to be bilingual, so Quebec profs are often called up to serve as chair.) Regular WCI readers - and ...