Economics Roundtable

Technical Problems 1/21/15

The website was down for a day and a half, but is back up now.

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”

January 29, 2015, 9:33 am, 1412347
This seems like a great opportunity for econ grad students.

January 28, 2015, 9:33 am, 1411455
Piketty and Saez have updated their famous one-percent graph to 2013. It is above. (Click on graphic to enlarge.)

One thing that commentators sometimes fail to notice is that the big increase in ...

January 27, 2015, 1:33 pm, 1410846
Why did employment growby about 3 millionin 2014? Here is the answer from a new paper:

We measure the effect of unemployment benefit duration on employment. We exploit the variation induced by the decision of Congress in December 2013 not to reauthorize the ...

January 26, 2015, 9:33 am, 1409910
Eddie writes:

The share of the private workforce employed in the BLS-defined industries “financial activities” and “hospitals” decreased by about 5% between 2010 and 2014. Jobs in these industries pay 29% and 24%, respectively, above the economy mean. Because a smaller share of labor ...

January 24, 2015, 11:33 am, 1409302
Justin Wolfers documents:

in recent years around one in 100 [New YorkTimes] articles mentions the term “economist,” ....Far fewer articles mention the terms historian or psychologist, while sociologists, anthropologists and demographers rarely rate a mention.

January 17, 2015, 3:33 pm, 1406272

January 16, 2015, 5:33 pm, 1405997

January 14, 2015, 11:33 am, 1404343
I have long been skeptical about students using laptops in class to take notes.I had the sense that their brains were less engaged and that they were acting more like stenographers than students. But I was not entirely sure my hunch was right.

According to research described in ...

January 14, 2015, 11:33 am, 1404342
Here are afew screen shots taken from Amazon today.

January 11, 2015, 1:33 pm, 1402467
According to this article, some members of the Democratic party are moving from mainstream to heterodox economic theory. If Bernie Sanders runs for the Democratic presidential nomination, as now appears likely, this developmentshould keep things entertaining for us econonerds.