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.


The Economics Roundtable is sponsored by EconModel.

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Greg Mankiw’s Blog

"Random Observations for Students of Economics”

August 28, 2014, 11:33 am, 1325982

August 27, 2014, 5:33 pm, 1325562
Here is a list.  By the way, six are at Harvard, more than any other school.

August 26, 2014, 7:33 am, 1324525
Source To users of my favorite textbooks: Thank you!  Have a great semester.

August 23, 2014, 1:33 pm, 1323553
Click here to read my column in Sunday's NY Times.

August 19, 2014, 11:33 am, 1321072
I will be speaking at the annual conference of the National Economics Teaching Association, which this year is being held on Thursday, November 6th and Friday, November 7th, 2014 in San Diego, CA.  If you want to consider attending, click here ...

August 9, 2014, 1:33 pm, 1315404
In The New Republic.  A tidbit:

Only very extreme scenarios, where every wealthy individual does all of the following at the same time can lead to the sort of explosive inequality dynamics Piketty fears:

Marries someone at least as wealthy or bequeaths ...

August 5, 2014, 7:33 pm, 1312206
The Affordable Care Act added "about six percentage points to the marginal tax rate faced, on average, by workers in the economy."  So estimates the University of Chicago economist Casey Mulligan

Given that labor income was already taxed by income and payroll taxes, that figure indicates the return ...

August 5, 2014, 7:33 pm, 1312205

August 5, 2014, 7:33 pm, 1312204

August 5, 2014, 7:33 pm, 1312203
Sorry that I have been out of touch with regular blog readers.  I have moved to Nantucket for the summer, and the weather here has been too great to spend much time in front of a keyboard.  (The three best reasons to be a professor: June, July, and August.)