Economics Roundtable

May 2014 Payroll Employment

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

Click on the image to get a bigger version.


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.


The Economics Roundtable is sponsored by EconModel.

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Core Economics

"Commentary on economics, strategy and more”

July 20, 2014, 11:23 am, 1303696

This week the Australian government announced what seems to be an extraordinary piece of legislation.

Spies who leak sensitive information will face tough new penalties of up to 10 years’ jail and internet firms could be forced to store customers’ data for up to two years ...

July 16, 2014, 1:23 am, 1301569

The latest federal budget in Australia by the Liberal Party was a real break with the recent past in which politicians were reluctant to offend any large group of voters and in which the status quo with respect to entitlements was avidly kept. There was a bit of playing around ...

July 6, 2014, 9:23 am, 1297149

I have to admit that it saddens me that we are in 2014 and still need to lobby Australian politicians for something so blindingly obvious than a price on carbon but here we are. Coordinated by the World Wildlife Federation, today a letter signed by 59 economists (including ...

July 5, 2014, 1:23 pm, 1297006

There are some of you who have subscribed to posts from this blog via email. The service used is a paid one (Feedblitz) but these days there are actually free ones that are the same, if not better. Consequently, I am going to discontinue that service.

If ...

July 2, 2014, 11:23 pm, 1295533

A new working paper (to be found here) by two PhD students in our school muses about whether firms optimise profits or returns-to-costs. Normally in economic papers you see the presumption that firms optimise profits, but from the point of view of investors allocating in lots of firms at ...

July 2, 2014, 11:23 pm, 1295534

This is a guest post by Evan Calford, a PhD Student at UBC

This post seeks to describe one particular concern with the implementation of the Australian Government’s Direct Action policy, as laid out in the recent Green Paper. There are many concerns with the Green Paper that ...

July 2, 2014, 11:23 pm, 1295532

On Australia Day this year I was privileged to discuss the very idea of Australia Day with Professor Bruce Bradlap of the University of Wongollong Philosophy Department, over a few ice cold king browns, at his home in the RSL caravan park at Legend Beach.  Here is an extract of ...

July 2, 2014, 11:23 pm, 1295529

In the run-up to the election, Tony Abbott made it clear that a government led by him would abolish the Australian Charities and Not-for-Profits Commission (ACNC) and thus undo one of the Gillard Government’s signature projects.  Apparently that is about to happen in at least a couple of ways. ...

July 2, 2014, 11:23 pm, 1295530

While most of the world think that Flappy Bird is fairly useless and without redeeming value, some think there is opportunity.

Folks, thanks to my son, I bring you Flappy Economist. In it you control ...

July 2, 2014, 11:23 pm, 1295531

Ten years ago Stephen King and I wrote a book called Finishing the Job. It was published by Melbourne University Press who timed it to coincide with just missing a Federal election and another book of theirs ...