Economics Roundtable
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.
Finally, it's hard to argue against the payroll employment graph below (straight from FRED) and the comparison across recessions (courtesy of Calculated Risk).
Looking Up At 2001
In February 2001, U.S. payroll employment peaked at 132.5 million. The November 2011 figure of 131.7 million still falls 800,000 jobs short of the earlier peak.
Click on the chart for a larger version.
November Payroll Employment
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.
Dani Rodrik’s weblog
"Unconventional thoughts on economic development and globalization”
This paper of mine on the Turkish economy was completed more than a year ago but has just been published in the new journal of the Turkish Economic Association. Re-reading it, I feel it captures well the missed opportunities of the last few ...
Many moons ago, I wrote a paper (with Alberto Alesina) called “Distributive Politics and Economic Growth,” which remains one of my most heavily cited publications. The paper has a simple idea: in highly unequal societies, the median voter is more likely to demand high taxes on ...
There is an important difference between domestic economic policies that create benefits by imposing costs on other nations ("beggar-thy-neighbor policies") and those whose economic costs are borne primarily at home though they might affect others as well ("beggar-thyself policies").
Beggar-thy-neighbor policies need to be regulated at ...
This time the Gülenists were caught red-handed.
In March 2009, a non-commissioned officer (NCO) serving on an air force base in the central Turkish town of Kayseri confessed to planting forged documents on a military computer, on instructions from his Gülenist mentor. His detailed account provides a rare ...
This is an article in Dutch about the Globalization Paradox and my views on the eurozone crisis. The picture is horrible, but I am told the writeup is pretty good.
Pity the mafia that is staging what is probably the most significant political trial in modern Turkey’s history – a show trial in which more than three hundred Turkish military officers stand accused of plotting a military coup back in 2003. Since early 2010, the mafia has ...
As if the economic ramifications of a full-blown Greek default were not terrifying enough, the political consequences could be far worse. A chaotic eurozone breakup would cause irreparable damage to the European integration project, the central pillar of Europe’s political stability since World War ...
The European Union, and the Eurozone in particular, has impressive institutional achievements to its name. We have a European Parliament, European Commission, European Court of Justice, a set of common regulations that exceeded 100,000 last time I checked (acquis communautaire), and of course the European Central Bank. These ...
The image most people will retain of Friedman is the smiling, diminutive, unassuming professor holding up a pencil in front of the cameras in “Free to Choose” to illustrate the power of markets. It took thousands of people all over the world to make this pencil, Friedman said ...
A student send me this picture, taken in South Sudan:
The view from the windshield nicely illustrates the subject matter of the book...