Economics Roundtable

Technical Problems 1/21/15

The website was down for a day and a half, but is back up now.


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?


Click on the chart for a larger version.


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Credit Slips

"A Discussion on Credit and Bankruptcy”


March 5, 2015, 2:44 pm, 1434225

Thanks to Epiq Systems, the latest monthly bankruptcy figures are out, and ...


March 5, 2015, 12:44 pm, 1434138

With my attention drawn to other matters, my personal blogging has been light for the past month. One of the things that had my attention was the Caulkett case currently pending before the Supreme Court. The issue in Caulkett is whether a wholly underwater second mortgage can be avoided in ...


March 3, 2015, 8:44 pm, 1432887

I am so pleased to offer the following post by Carolina Reid, a premier housing researcher at UC Berkeley, about her excellent study of how mortgage servicers matter in creating home-saving opportunities. Welcome Carolina to Credit Slips.

By now we’re all familiar with a plethora ...


March 1, 2015, 4:44 am, 1431182

Like many others, I have been struggling to figure out whether the new lunar ...


February 26, 2015, 12:44 am, 1429233

Senator Elizabeth Warren surprised a lot of people by laying into Federal Reserve Board Chair Janet Yellen as hard as she ever laid into Timothy Geithner. I think this was a really important exchange. But it's easy to miss exactly what's being communicated in it. Senator ...


February 26, 2015, 12:44 am, 1429232

I'm thrilled that Jay Westbrook has finally come into blogosphere with his posts on Single-Point-of-Entry.  I've blogged a little on SPOE already, but I want to highlight what I still think are two critical problems with SPOE.  In keeping with Jay's spirit, let's call ...


February 25, 2015, 10:44 am, 1428750

In an earlier post I described the FDIC’s proposed SPOE approach to resolution of SIFI banks and other financial institutions under Title II of Dodd-Frank. That post discussed two of the three components of SPOE: control of the process by the regulator and no bailout for management or ...


February 23, 2015, 6:44 pm, 1427518

It is with great pleasure that I welcome Professor Jay L. Westbrook of the University of Texas as a guest blogger for Credit Slips. To people in the bankruptcy community, Professor Westbrook needs no introduction. He is a leader in both international bankruptcy and empirical studies of ...


February 23, 2015, 6:44 pm, 1427517

A Single Point of Entry (SPOE) sounds like the route of a returning astronaut or perhaps a building’s security plan or even a sex ...


February 19, 2015, 2:44 pm, 1425419

Sometimes a tax return is not a tax return. As a result, bankruptcy is becoming a less effective response to ...