Economics Roundtable

NOTICE 9/30/177

The Economics Roundtable website has been up and running for a couple of days now. Further periods of testing will be necessary. The RSS feed is still not working. The left sidebar links are also probably not updating correctly.

The problems were caused by updates to the programming language php and to the Apache operating system. It is taking time to track down the problems this causes with my system. - Bill Parke

March 2017 Fed Funds Rate

What is the effect of a 0.25% change in the Fed Funds rate?.

Click on the image to get a bigger version.

March 2017 Payroll Employment

Payroll employment has not grown impressively since 2000. Some baby-boomers retired, but that does not totally account for this graph.

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May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

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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.


The Economics Roundtable is sponsored by EconModel.

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MV = PQ (Tim Schilling)

"Ideas and discussions about economic and financial literacy issues. This blog is an outreach service of The Powell Center for Economic Literacy.”

September 12, 2017, 1:16 pm, 1773307
Greg Mankiw posts a great piece from a colleague at the University of Chicago.

Generation Gap Alert: I just talked about this with my freshmen at one of the universities where I teach. None of them knew the Abbott & Costello routine "Who's on First?"  Consequently, you may ...

September 12, 2017, 1:16 pm, 1773308

September 12, 2017, 1:16 pm, 1773309

September 12, 2017, 1:16 pm, 1773310
Actor/writer Rick Moranis has a very amusing piece in the opinion section of today's edition of The Wall Street Journal. What struck me was how good it would be in setting up a discussion of opportunity cost. It really harkened back to Bastiat's "that which is seen and that ...

September 12, 2017, 1:16 pm, 1773306
If you discuss the Chevy Volt with your students, you might want to use this. (HT to Carpe Diem.)

September 12, 2017, 1:16 pm, 1773305
This is not appropriate for use in high schools. However, those of you who teach at the college or university level may find this helpful.  Econgirl at EconomistsDoItWithModels has a great illustration of non-price determinants of demand with the help of "the most interesting man in the world."

September 12, 2017, 1:16 pm, 1773302
It's early in the semester and many of us who are teaching principles or survey courses are either just into choice or only recently moved on. Here's a great article from today's edition of The Wall Street Journal that sets up a choice that is sure to promote discussion.

September 12, 2017, 1:16 pm, 1773303
Courtesy of Wondermark.

September 12, 2017, 1:16 pm, 1773304
Our natural propensity to "truck and barter" as Adam Smith would say:

(HT to Greg Mankiw)

September 12, 2017, 1:16 pm, 1773301
Economist James Buchanan has passed away.  Buchanan, along with Gordon Tullock, won the Nobel Prize for Economics in 1986 and is known for his work on public choice theory.

You can read his Nobel Prize lecture here.

I had several opportunities to hear Dr. Buchanan speak ...