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.


EconModel

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Inside the Economist’s Mind

"This blog hosts discussion of issues relevant to the new book, Inside the Economist’s Mind, coedited by Nobel Laureate Paul A. Samuelson and William A. Barnett and published by Blackwell Publishing.”


February 11, 2014, 6:44 pm, 1223394
Book to appear soon.


February 11, 2014, 6:44 pm, 1223395
I don't know who produced this YouTube video about Divisia monetary aggregates, but it certainly is interesting:

http://www.youtube.com/watch?v=u267ucG
LcTo


February 11, 2014, 6:44 pm, 1223396
I just noticed a post on a British blog about the Bank of England's Divisia M4.  It's interesting:

http://wonkery.co.uk/blog/2013/3/30/di
visia-money-and-ngdp

The blog is amusingly called "wonkery," maintained by Duncan Brown.

He also has another interesting post on that subject:

http://wonkery.co.uk/blog/2013/10/4/money-
beats-credit


February 11, 2014, 6:44 pm, 1223397
An article about my book, Getting It Wrong, just appeared in Bloomberg Businessweek's April 1-7, 2013 issue on pp. 18-19.  The title of the article is The Fed May be Miscounting the Money.  Peter Coy, the author of the article and economics editor of the ...


February 11, 2014, 6:44 pm, 1223393
This interesting book review pairs my book, Getting It Wrong, with Ben Bernanke's new book and compares the two.  The two paired reviews appeared in the Economic Record, the journal of the Australian Economic Association.



February 11, 2014, 6:44 pm, 1223392
Peter Ireland at the Shadow Open Market Committee just published an excellent article, "The Right Measure of Money Supply," on the e21 web site.


February 11, 2014, 6:44 pm, 1223389
A recent blog post in ScienceBlog provides interesting insights into the nature of science, with emphasis on physics and economics.


February 11, 2014, 6:44 pm, 1223390
The first Higuchi Award in economics.  Also look here.


February 11, 2014, 6:44 pm, 1223391

February 11, 2014, 6:44 pm, 1223388
It seems that I now am "the Godfather" on the Market Monetarist blog site.  Better be careful!