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.


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Greg Mankiw’s Blog

"Random Observations for Students of Economics”

February 1, 2016, 11:33 am, 1604115
From the Crimson:

January 29, 2016, 1:33 pm, 1603500

January 29, 2016, 1:33 pm, 1603499
Click here to read my column in Sunday's NY Times.

January 29, 2016, 7:33 am, 1603358
Graduate students with an interest in economic theory will be interested in this opportunity, run by my colleague Eric Maskin.

January 26, 2016, 5:33 pm, 1602287
Those with an interest in the history of economic thought might want to consider this summer program.  I have been told that the program is designed primarily for faculty members in economics, other social sciences, and the humanities, though three of the twenty-five slots are reserved for graduate ...

January 25, 2016, 5:33 pm, 1601884
Kennedy School prof George Borjas, an expert on the economics of immigration, is blogging again.

January 24, 2016, 3:33 pm, 1601529

January 23, 2016, 1:33 pm, 1601418
Given the huge decline in oil prices over the past year, I thought it might be useful to put the current price in some historical perspective. Below is the price of oil relative to wages. Roughly, the graph shows the number of hours a production worker needs to work to ...

January 12, 2016, 3:33 pm, 1598241
The Opposite of Loneliness by Marina Keegan.  A collection of wonderfully written short stories and essays by a young and promising writer.

The book is uneven and, at times, would be benefited from a bit more editing and revision.  Tragically, however, that rewrite was impossible, because the author died in a car ...

January 8, 2016, 5:33 pm, 1597339
My colleague Ariel Pakes alerts me to a new website that should be of interest to readers of this blog:

Microeconomic Insights