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”

November 27, 2015, 9:33 am, 1582721
Noah Smith takes the standard course to task.  David Henderson says, not so fast.

November 25, 2015, 11:33 am, 1582028
I have been following the debate at my alma mater about Woodrow Wilson.  Here are two good pieces for and against removing his name from its current place of prominence.

November 20, 2015, 5:33 pm, 1579966
Source.  Thanks to Laura M. for the pointer.

November 17, 2015, 3:33 pm, 1577926
I enjoyed reading these remarks from University of Chicago economist Steve Davis.  The chart below, taken from Davis, is particularly striking.

November 17, 2015, 3:33 am, 1577521
A student recommended to me the direct-to-Netflix TV show Narcos.  It is a docudrama about the Colombian drug kingpin Pablo Escobar.  I just finished the first season of ten episodes, and it is indeed very good.

Next up: The direct-to-Amazon show The Man in the High Castle, ...

November 12, 2015, 9:33 am, 1575349
When students ask me about the Affordable Care Act, I often say that the policy was motivated as much by the desire to redistribute income as it was to reform the health care system. I recently ran across the following chart from Brookings economists Henry Aaron and Gary Burtless that shows ...

November 4, 2015, 9:33 am, 1569889
On Friday I will be speaking at this Economics Teaching Conference.

October 29, 2015, 5:33 am, 1566020
Now that Intrade is gone, here is one place to see who is ahead based on betting odds.

October 26, 2015, 11:33 am, 1563927

October 24, 2015, 11:33 am, 1563304
Click here to read a piece I co-authored with Larry Summers, which is coming out in Sunday's New York Times.