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

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Credit Slips

"A Discussion on Credit and Bankruptcy”


July 18, 2016, 12:44 pm, 1654613

Today is the tenth anniversary of the launch of Credit Slips. We started the blog in the middle of ...


July 15, 2016, 12:44 pm, 1654018

My take on the Second Circuit's opinion – which Levitin has also written about (and I agree with him that the used car analysis is a bit "off") – is over on Dealb%k.  In short, I think that GM mostly has itself to blame for the inability ...


July 15, 2016, 2:44 am, 1653859

The Second Circuit handed down its much-anticipated decision on the GM successor liability claims. Bottom line is that most, if not all, of the various claims against New GM are not barred by the Sale Order because of lack of procedural Due Process.  That said, there's a ...


July 14, 2016, 4:44 pm, 1653775

Credit Slips blogger Katie Porter has produced a new textbook in consumer law that anyone teaching the ...


July 11, 2016, 12:44 pm, 1652631

I'm testifying before House Financial Services tomorrow regarding the "CHOICE Act," the Republican Dodd-Frank alternative.  My testimony is here.  It's lengthy, but it doesn't even cover everything in the CHOICE Act--there are just too many bad provisions, starting with the idea of ...


July 6, 2016, 4:44 pm, 1651485

It has been a while since I last checked in ...


June 28, 2016, 12:44 pm, 1649176

In contrast to the cacophony created by Brexit, EU authorities have been working for several years on a


June 17, 2016, 2:44 pm, 1646338

Over at Dealb%k.


June 13, 2016, 12:44 pm, 1644920

I'm still digesting the opinion, but the obvious conclusion is that impressions from oral argument may be misleading. It also suggests that states that do not use chapter 9, have no ability to come up with a state law alternative. It is chapter 9 or nothing, which ...


June 13, 2016, 12:44 pm, 1644919

The opinion is a good reminder that oral argument impressions don't always carry over to the final written product. In short, both the majority and dissent approach this as a simple matter of statutory construction, and in that regard the majority opinion is simply a more clearly articulated version ...