Economics Roundtable

Technical Problems 3/9/15

The website was down several hours today, 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.


The Economics Roundtable is sponsored by EconModel.

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Greg Mankiw’s Blog

"Random Observations for Students of Economics”

March 26, 2015, 5:33 pm, 1446032
Only one of us won a John Bates Clark Medal.
Only one of us became Director of the Congressional Budget Office.
Only one of us wrote a best-selling textbook.

But all three of us were ec 10 section leaders early in ...

March 18, 2015, 7:33 am, 1441185
This week is spring break at Harvard, so I have time to catch up on some pleasure reading. First up is a recent recommendation by a blog reader: The Righteous Mind: Why Good People Are Divided by Politics and Religion by Jonathan Haidt. 

The book ...

March 14, 2015, 7:33 am, 1439280
Happy Pi Day!

March 7, 2015, 9:33 am, 1435305
If you teach high school economics, you will most definitely want to click here to learn about a great opportunity for your students.

March 5, 2015, 11:33 am, 1434132
March 5, 2015

The Honorable John Boehner Speaker
House ...

March 4, 2015, 3:33 pm, 1433548
Senators Mike Lee and Marco Rubio announced a bold and attractive tax plan today. I especially appreciate their desire to eliminate the current tax code's bias for debt over equity finance.

March 4, 2015, 11:33 am, 1433389
In my column on dynamic scoring, I wrote:

[A]ccurate dynamic scoring requires more information than congressional proposals typically provide. For example, if a member of Congress proposes a tax cut, a key issue in estimating its effect is how future Congresses will respond to ...

February 28, 2015, 3:33 pm, 1431083
Click here to read my column in Sunday's New York Times.

February 26, 2015, 11:33 am, 1429578
"genetic differences explained roughly 33% of the variations in individual savings rates."

Read more here.

February 19, 2015, 5:33 pm, 1425562
The Economic Report of the President was released today.  A friend draws my attention to Table 1-3 on page 34, which presents several historical counterfactuals.  It finds:

1. If productivity growth had not slowed after 1973, the median household would have $30,000 of additional income today.
2. ...