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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The Borjas Blog

"George Borjas’s thoughts on immigration, labor markets, and random stuff”


July 2, 2014, 10:44 pm, 1294884

Immigration, both legal and illegal, was the silent issue in the presidential campaign--despite the rapidly deteriorating economic conditions. I suspect that the worsening labor market will force President Obama to wrestle with the immigration issue sooner rather than later. It'll be hard to justify a ...


July 2, 2014, 10:44 pm, 1294881

What's the world coming to?

First, I read about American Express offering some of its customers $300 to close their accounts. (Note to AMEX: how come ...


July 2, 2014, 10:44 pm, 1294882

There's a very interesting article in Forbes about Indian immigration to the United States.

Most ...


July 2, 2014, 10:44 pm, 1294883

Having lived in California for a long time, I followed the budget crisis there with some interest. Last night, I ran across this item in Instapundit


July 2, 2014, 10:44 pm, 1294880

I can hardly believe it, but the fifth edition of my textbook


July 2, 2014, 10:44 pm, 1294878

I've been thinking for some time about the theoretical underpinnings of how immigration affects labor market conditions in sending and receiving countries. It seems to me there is a lot of confusion--some of it needless, some of it deliberate--and all kinds of conceptual ...


July 2, 2014, 10:44 pm, 1294875

The WSJ has a very interesting article:

The Great U-Turn: The developed world, which for decades has offered a difficult but promising path to upward mobility, ...


July 2, 2014, 10:44 pm, 1294876

The Pew Hispanic Center has an interesting report on the illegal immigrant population in the United States. The Los Angeles Times


July 2, 2014, 10:44 pm, 1294877

I've been following the work of the Center for Immigration Studies since the mid-1990s. They regularly publish empirical research on immigration, and I happen to be friends with both the head ...


July 2, 2014, 10:44 pm, 1294879

I've been meaning to post that the paper that Jeff Grogger, Gordon Hanson and I wrote on the impact of immigration on the African-American community is now in final form. Here is the abstract:

The ...