Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

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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 .


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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?


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EconModel

The Economics Roundtable is sponsored by EconModel.

The Classic Economic Models cover micro, macro, and financial markets.


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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.”


September 19, 2016, 12:44 am, 1676337
My op ed on time inconsistency of Fed monetary policy appeared today (Tuesday, Nov 6, 2012)  in the Kansas City Star on p. C10.  The title is "Fed's Current Stance Is Tragically Wrong."  The in-print version looks better, since includes my photo.


September 19, 2016, 12:44 am, 1676338
Interview with me on WIBW radio station in Topeka on Sept 14, 2012, hosted by Deb Albertson.  The topic was QE3.


September 19, 2016, 12:44 am, 1676339
A very interesting article about my book, Getting It Wrong, just appeared in Forbes magazine.


September 19, 2016, 12:44 am, 1676340
There is an excellent post about the current output gap and its connection with CFS Divisia M4 on July 26, 2012.  The post, "Safe Assets, Money, and the Output Gap" is by David Beckworth.  It is on the Wall Street Pit and Beckworth's own ...


September 19, 2016, 12:44 am, 1676336
There is an interesting article about modern macro in the latest Economist magazine, Jan 19, 2013.


September 19, 2016, 12:44 am, 1676335
There have been amendments to the Bank of England's Divisia monetary aggregates.


September 19, 2016, 12:44 am, 1676332
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


September 19, 2016, 12:44 am, 1676333
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 ...


September 19, 2016, 12:44 am, 1676334
I have won the American Publishers Award for Professional and Scholarly Excellence (the PROSE Award) for the best book published in economics during 2012 for my MIT Press book, Getting It Wrong.


September 19, 2016, 12:44 am, 1676331
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