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 .
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.
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?
The Economics Roundtable is sponsored by EconModel.
The Classic Economic Models cover micro, macro, and financial markets.
The Aleph Blog (David Markel)
Blogging a whole conference can be an exhausting affair. Two things I did not expect — sitting in on the press conference with Lacker and Bullard, and blogging the Lunch speaker ...
Rep. Bill Huizenga
Chairman, House Subcommittee on Monetary Policy and Trade
Suggested FSOC is a tool of the Fed to press fiscal agenda. 60 new regulations, thousands of pages.
High degree of discretion… Fed makes it up as ...
PANEL 3: MONETARY POLICY AND THE KNOWLEDGE PROBLEM
Moderator: George Melloan
Former Deputy Editor, Wall Street Journal
Gerald P. O’Driscoll Jr.
Senior Fellow, Cato Institute
Alex J. Pollock
Resident Fellow, American Enterprise Institute
President, Encima Global LLC
Melloan introduces Gerald P. O’Driscoll ...
PANEL 4: THE FED’S EXIT STRATEGY VS. FUNDAMENTAL REFORM
Moderator: Craig Torres
Jerry L. Jordan
Former President, Federal Reserve Bank of Cleveland
Lawrence H. White
Professor of Economics, George Mason University
Professor of Finance ...
Head, Monetary and Economic Department, Bank for International Settlements [praised by the Economist and others]
1) How do we view equilibrium?
How can we tell if market rates are at an equilibrium or ...
Press conference w/Bullard: embargoed until end of talk. [everything is a paraphrase here, and I can’t get everything down, as with everything at this conference]
Neo-Fisherian ideas are interesting and worthy of further talking about, but don’t ...
PANEL 2: INFLATION, DEFLATION, AND MONETARY RULES
Moderator: Jeffrey A. Miron
Senior Lecturer, Harvard University, and Senior Fellow, Cato Institute
Charles I. Plosser
Former President and CEO, Federal Reserve Bank of Philadelphia
John B. Taylor
Mary and ...