Economics Roundtable

January 2014 Payroll Employment

We are getting closer to the previous peak.

Click on the image to get a bigger version.


Jobs

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 20, 2014, 7:33 pm, 1258072
From today's NY Times:

Thomas A. Hirschl of Cornell andI [Mark Rank of Wash U]looked at 44 years of longitudinal data regarding individuals from ages 25 to 60 to see what percentage of the American population would experience these different levels of affluence ...


April 16, 2014, 9:33 am, 1256338
This story about the Census Bureau is amazing to me: The Census is changing its annual survey about health insurance. As a result, the new data will not be comparable to the old, making it much harder to gauge the effects of the Affordable Care Act.

Is thisa ...


April 15, 2014, 3:33 pm, 1255969


April 15, 2014, 11:33 am, 1255807

April 11, 2014, 5:33 am, 1254132
From the NY Times:

Two Florida doctors who received the nation’s highest Medicare reimbursements in 2012 are both major contributors to Democratic Party causes, and they have turned to the political system in recent years to defend themselves against suspicions that they may have ...


April 9, 2014, 7:33 am, 1252863

For Deacon Patrick Moynihan, Head of LCS [Louverture Cleary School], the importance of teaching economics in Haiti is clear, “After theology—economics is the most important science to study because the two things that impact everyone are God and the market.”

Here is the source.


April 7, 2014, 7:33 pm, 1252088
Users of my favorite intermediate macro textbook will be familiar with the dynamic model of aggregate demand and aggregate supply, whichI first put into the book in the 7th edition.That new chaptershows the student how to incorporate a standard Taylor rule into business-cycle theory, as well as how to trace ...


April 7, 2014, 11:33 am, 1251841
Immigration reform remains one of the great challenges facing our nation,and unfortunately, thepolicies of the current president fail to match his rhetoric. In today's NY Times:

With the Obama administration deporting illegal immigrants at a record pace, the president has said the government is ...


April 1, 2014, 5:33 pm, 1249423
Over thenext few days, I will be visiting a couple colleges in Alabama. If you happen to be in the area, you might be interested to know that I am giving a public lecture at Troy University on April 3. You can find information about ithere.


April 1, 2014, 7:33 am, 1248997
As chairman of the Harvard economics department, I am delighted to announce the merger of the Harvard and MIT economics departments. After consulting with the department chairs, the Presidents of Harvard and MIT have concluded that the synergies were too great for the departments to operate separately, only two miles ...