Economics Roundtable

January 2014 Payroll Employment

We are getting closer to the previous peak.

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.


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Free Exchange


April 21, 2014, 10:44 am, 1258236

IF THERE were not a large class of influential people convinced that distributional issues in an economy are not especially important, there would have been no reason for Thomas Piketty to write his book. Its reception across a wide range of thinkers suggests that Mr Piketty's work has enjoyed ...


April 17, 2014, 6:44 am, 1256861

LAST year Thomas Piketty, an economist at the Paris School of Economics and a renowned expert on global inequality, published a book titled "Capital in the Twenty-first Century"—in French. It was released in English on March 10th. We reviewed the book earlier this year, but it is detailed and important enough, ...


April 16, 2014, 10:44 am, 1256346

YESTERDAY the New York Times ran a piece on a brewing rent crisis in America:

For rent and utilities to be considered affordable, they are supposed to take up no more than 30 percent of a household’s income. But that goal is increasingly unattainable for middle-income families as a tightening market ...


April 15, 2014, 8:44 am, 1255632

TYLER COWEN quotes an article in the Financial Times:

Michael Ben-Gad, a professor at London’s City University who has studied the credibility of long-term promises by governments, questions whether Nato’s commitment to collective defence is absolute and asks what would happen if Russia’s border guards crossed the bridge that separates ...


April 14, 2014, 8:44 am, 1255076

REPUTATIONALLY speaking, the European Union has had better moments (though Russia is doing its best to restore the appeal of linkages to the west). Thanks to the crisis in the euro zone, many of the EU's economies remain mired in near-recession conditions almost seven years after the first rumblings of ...


April 11, 2014, 10:44 am, 1254232

LAST year Thomas Piketty, an economist at the Paris School of Economics and a renowned expert on global inequality, published a book titled "Capital in the Twenty-first Century"—in French. It was released in English on March 10th. We reviewed the book earlier this year, but it is detailed and important enough, ...


April 10, 2014, 12:44 pm, 1253717

APPLICATIONS are invited for The Economist's 2014 Marjorie Deane internships. Financed by the Marjorie Deane Financial Journalism Foundation, the awards are designed to provide work experience for a promising journalist or would-be journalist, who will spend three months at The Economist writing about economics and finance. Applicants are asked to ...


April 9, 2014, 6:44 am, 1252807

I RECENTLY noted that the evolution of emerging-market exchange rate regimes since the crises of the 1990s helped explain their relative robustness in the face of recent market turmoil. But I said that fewer economies were using hard currency pegs, which ...


April 7, 2014, 12:44 pm, 1251857

WHEN the first whispers of Fed "tapering" set off a storm in emerging markets last year, there were lots of reasons to think a repeat of the emerging-market crises of the 1990s was not in the offing. Fewer emerging economies had hard currency pegs and more of them had large ...


April 4, 2014, 10:44 am, 1250859

APPLICATIONS are invited for The Economist's 2014 Marjorie Deane internships. Financed by the Marjorie Deane Financial Journalism Foundation, the awards are designed to provide work experience for a promising journalist or would-be journalist, who will spend three months at The Economist writing about economics and finance. Applicants are asked to ...