Economics Roundtable

Database Maintenance 7/4/15

Routine database maintenance will induce some duplicated items for the next day or two.


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.


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

The Economics Roundtable is sponsored by EconModel.

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


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Undercover Economist (Tim Harford)


July 5, 2015, 1:23 am, 1503150
‘The lesson of all this is that the economy is complicated and textbook economic logic alone will get us only so far’


July 5, 2015, 1:23 am, 1503155
We don’t have a good sense of our own fallibility. Checking my answers, it was the one I felt the most certain of that I got wrong


July 5, 2015, 1:23 am, 1503153
Bitcoin appeals to libertarians on the basis that governments cannot arbitrarily make more of it


July 5, 2015, 1:23 am, 1503154
The fact that a few large players have such influence over vital services should make us all queasy


July 5, 2015, 1:23 am, 1503151
‘Diamonds are costly because we desire them. But what if that isn’t true? What if they are desirable because they are costly?’


July 5, 2015, 1:23 am, 1503152
‘The Luddite anxiety has been dormant for many years but has recently enjoyed a resurgence’


July 3, 2015, 7:23 am, 1501112
‘One algorithm had to cope with pairs of romantically attached doctors who wanted two job offers in the same city’


June 26, 2015, 7:23 am, 1497393
‘There is one dramatic success for behavioural economics — the way it has shaped pensions’


June 19, 2015, 7:23 am, 1493720
‘Complex products require elaborate networks of teamwork, and only a few places manage the trick’


June 12, 2015, 7:23 am, 1490180
‘Social pressure matters but it is not the only thing that matters. Facts can trump groupthink’