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.


The Economics Roundtable is sponsored by EconModel.

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Greg Mankiw’s Blog

"Random Observations for Students of Economics”

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. ...

February 17, 2015, 11:33 am, 1423757
I don't know the story behind this, but apparently a Kuznets heir is selling his Nobel Prize.

February 11, 2015, 11:33 am, 1420511

February 6, 2015, 7:33 am, 1417587
The Crimson reports on the good judgment of Harvard students:

February 5, 2015, 11:33 am, 1416917
Justin Wolfers says that, by the logic of game theory, the losing Superbowl coach does not deserve all the opprobrium he has been getting.  I have been thinking the same thing.

February 4, 2015, 11:33 am, 1416104
If you are an undergraduate, this conference may be of interest.

February 2, 2015, 1:33 pm, 1414645
A nice essay by Tim Taylor, very appropriate for introductory students.

February 2, 2015, 9:33 am, 1414451
Professor Lars Syll thinks I made of fool of myself in a previous post when I wondered why we have only recently started discussing income inequality so extensively, even though the increase in inequality occurred mainly between 1980 and 2000.  He writes, "Wonder on which planet Greg has ...