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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Credit Slips

"A Discussion on Credit and Bankruptcy”


August 28, 2014, 4:44 pm, 1326149

Thoughts on cramdown and "make whole" call provisions, over at Dealb%k.


August 26, 2014, 4:44 pm, 1324891

Mark Fogarty has a nice write-up in National Mortgage News of a book chapter about duties to serve in housing finance that I wrote with Jannecke Ratcliffe for a volume entitled Homeownership Built to Last (Brookings/Joint Center on Housing Studies ...


August 26, 2014, 12:44 am, 1324404

Financial crisis litigation has been going on for several years now and has been resulting in lots of piecemeal settlements. As a result, it's easy to miss the big picture.  There's actually been quite a lot of settlements covering a fair amount of money.  (Not all of it ...


August 23, 2014, 6:44 pm, 1323582

The latest consumer financial product to come under the regulatory microscope is subprime auto lending, which has seen a boom in the last few years.  The subprime auto market's boom underscores a real problem in consumer financial regulation: different consumer financial products have developed different substantive ...


August 22, 2014, 4:44 pm, 1323228

So Argentina plans to ditch Bank of New York Mellon, deposit funds with a ...


August 21, 2014, 12:44 pm, 1322430

I commend to Slips readers Alex Tabarrok's post over at Marginal Revolution entitled "Ferguson and the Modern Debtor’s Prison." 


August 20, 2014, 10:44 pm, 1322041

President Cristina Fernandez de Kirchner has proposed a law authorizing the executive to reroute payments on the restructured bonds out of New York, and to offer all bondholders local-law bonds on 2010 exchange terms. All the buzz has been about the swap. But there is no swap on the ...


August 20, 2014, 2:44 pm, 1321823

Here is the proposed law rerouting payments under the restructured, now-defaulted Argentine bonds away from New York. Contrary to some reports, it is not a swap, just a unilateral attempt at firing Bank of New York Mellon and substituting Banco Nacion in Buenos Aires (or an alternative, if voted by ...


August 19, 2014, 12:44 am, 1320765

Mehrsa Baradaran (University of Georgia) has a short piece in Slate tracing the history of the U.S. Postal ...


August 16, 2014, 6:44 pm, 1319781

There's a fascinating long magazine piece in the NYTimes about consumer debt sales and collection. The piece ends by asking why we don't have a national debt registry, as if that were the solution to all debt collection problems.  Unfortunately, the author only asked the FTC ...