Economics Roundtable

NOTICE 4/30/18

The Economics Roundtable is back. The technical problem that has limited the set of blogs has been resolved. The RSS feed is, however, still not working.

Flushing caches will likely cause some old posts to show up for a day or two.

Employment as a Percentage of Population

The graph below shows employment as a fraction of population for people over 16 years old.

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.

Click on the image to get a bigger version.

May 2014 Payroll Employment

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

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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.

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Macro and Other Market Musings

David Beckworth.

December 12, 2018, 11:08 pm, 1928930
I have a new working paper titled "Better Risk Sharing Through Monetary Policy? The Financial Stability Case for a Nominal GDP Target". I presented this paper at the recent Cato Monetary Policy Conference.

Here is the abstract:

A series of papers have shown that a ...

December 12, 2018, 10:39 pm, 1928928
I recently participated at an AEI event that showcased George Selgin's new book on the Fed's floor operating system. My role at the event was to comment, along withBill Nelsonof the Bank Policy Institute, on George's book.

November 27, 2018, 12:09 pm, 1924381
As readers of this blog know, I have an interest in the Fed's operating system. This interest has culminated in a new paperwhere I look at the consequences of the Fed moving from a corridor system to a floor system in 2008. In particular, the ...

November 26, 2018, 6:39 pm, 1924128
Andrew Metrick of Yale University interviewed former Fed Chair Janet Yellen today. It was an interesting discussion and one where they talked about, among other things, what changes the Fed could bring about in light of the recently announced strategies, tools, and communication reviewto be held ...

October 2, 2018, 5:07 pm, 1904347

Tim Duy reports that r-star, which rose to prominence over the past few years, is experiencing a Caesar-like betrayal at the Fed:

The Federal Reserve’s “r-star” ...

September 21, 2018, 1:27 pm, 1901517
The quote in the title should be the motto for the 2018-2019 FOMC. For the FOMC is set to raise its interest rate target next week and expected to raise it several times more in 2019 despite a flattening treasury yield curve.