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.


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Greg Mankiw’s Blog

"Random Observations for Students of Economics”

April 25, 2015, 11:33 am, 1461786

April 25, 2015, 11:33 am, 1461787
Roland Fryer has won the John Bates Clark Award. The past three winners have been Roland Fryer (Harvard faculty), Matthew Gentzkow (Harvard undergrad and PhD), and Raj Chetty (Harvard undergrad, PhD, and faculty).

April 18, 2015, 9:33 am, 1457645
This past week, The House ofRepresentativespassed repeal of the estate tax. This is a policy change I have long supported, for reasons explained here.

April 16, 2015, 11:33 am, 1456539
Via Nicholas Kristof:

“A broad liberal arts education is a key pathway to success in the 21st-century economy,” says Lawrence Katz, a labor economist at Harvard. Katz says that the economic return to pure technical ...

April 11, 2015, 7:33 pm, 1453882

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April 8, 2015, 5:33 pm, 1452515
Paul Krugman says there aren't enough libertarians in the U.S. to make a libertarian candidate like Rand Paul viable. I am not so sure about the paucity of libertarians, but even so, Idoubt that Rand Paul is the best representative of that group.

Similar to Krugman, I would ...

April 6, 2015, 3:33 pm, 1451317

April 3, 2015, 7:33 am, 1450210

April 2, 2015, 11:33 am, 1449790
There has been a lot of discussion of the drought in California and the new regulations that thestate is putting in place. But there has been little mention of the obvious (to an economist)solution: Raise the price of water.

This would do more than any set of regulations ever ...