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 .
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.
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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You decide to make a new monetary system from scratch. You give everyone a chequing account on your computer, with an initial balance of 0 units. If Andy buys bananas from Betty and pays her 100 units, Betty now has a positive balance and Andy now has a negative balance. ...
Here is the number of new permanent residents to Canada, as a percentage of the existing population, over time:
"New permanent residents" is not a perfect ...
Canada is, as far as countries go, relatively cold and sparsely populated. Our houses are large by global standards, and we drive a fair amount. We are rich enough to consume a lot of stuff. These factors, together with the oil sands, mean that we have one of the world's ...
Last August, Prime Minister Justin Trudeau announced that, in future, only candidates who are "functionally bilingual" in French and English will be recommended for positions on the Supreme Court of Canada. With the information released subsequent to the nomination of Malcolm Rowe to the Court, we now have some sense ...
Chris Dillow says that economics is like literature. Maybe it is, and maybe it isn't. But if it is literature, economics needs more science fiction. Paradoxically, imagining radically different worlds can help us understand better how the actual world works, as well as helping us consider policy alternatives.
I think Stephen Gordon's Project Link and its piecing together of fragments of Statistics Canada data is a solid step in the right direction. If our national statistical agency is not going to provide long-term consistent data series, then I suppose its up to the researchers to lead the ...
I've already ranted a couple of times - here and here - about Statistics Canada's 'Attention Deficit Disorder': its habit of starting new time series using new methodologies without updating the historical data. As I put it in my first rant,
Statistics Canada must be ...
The Canada Research Chair program has a long-standing gender problem.
Way back in 2002, the CRC Secretariat commissioned a gender-based analysis of the program which concluded:
There are several sub-disciplines/fields where women are under represented among the Canada Research Chair nominees. In part, this may be due to ...
Start with a bog-standard second-year textbook Mundell-Fleming ISLMBP model. Start in equilibrium at Y*, then hit it with a negative shock to Net eXports. The IS curve shifts left initially, at the previous equilibrium exchange rate. But the central bank is sensible, and allows the exchange rate to depreciate sufficiently ...