Economics Roundtable

March 2017 Fed Funds Rate

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

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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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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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EconModel

The Economics Roundtable is sponsored by EconModel.

The Classic Economic Models cover micro, macro, and financial markets.


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"Art Diamond’s web log”


May 26, 2017, 5:33 am, 1750905



(p. D4) Most people, when they think of steam power, they think of rusty farm tractors from 150 years ago. But there's such a thing as modern steam power. Steam is the most direct way to get power out of heat. You can't build an internal combustion ...


May 23, 2017, 5:33 am, 1749892



(p. A15) "Whoa, a video store!" said a man recently walking by Video Free Brooklyn, loud enough to be heard inside the shop.

It's true: Video-store holdouts still exist. Their goal is to keep pushing DVDs, Blu-Rays and even VHS tapes in an age when streaming movies is ...


May 16, 2017, 5:33 am, 1748014



(p. C6) Perhaps the most fascinating chapter of the book, highlighting Mr. Crawford's ability to mix philosophy and reporting, is the one about the panopticon. The idea of an annular building with a central observation tower was conceived by the philosopher Jeremy Bentham (1748-1832). The utilitarian is known ...


May 10, 2017, 5:33 am, 1746062



(p. B1) In lieu of steep menu price increases, many independent and regional chain restaurants in states including Arizona, California, Colorado and New York are adding surcharges of 3% to 4% to help offset rising labor costs. Industry analysts expect the practice to become widespread as more ...


April 26, 2017, 5:33 am, 1741103



(p. A17) Ever since the crisis of 2008, banks have been subject to ferocious attack and more regulation. In "Why Wall Street Matters," William Cohan, the author of earlier books on Goldman Sachs and Lazard Frères, mounts a defense of Wall Street banking institutions and argues that ...


April 24, 2017, 5:33 am, 1740357



(p. A21) Professor Arrow was widely hailed as a polymath, possessing prodigious knowledge of subjects far removed from economics. Eric Maskin, a Harvard economist and fellow Nobel winner, told of a good-natured conspiracy waged by junior faculty to get the better of Professor Arrow, even if artificially. ...


April 21, 2017, 5:33 am, 1739766



(p. A17) . . . in a recent empirical study, Alex Nikolsko-Rzhevskyy of Lehigh University and David Papell and Ruxandra Prodan of the University of Houston divided U.S. history into periods, like the 1980s and '90s, where Fed policy basically adhered to the Taylor rule and ...


April 18, 2017, 5:33 am, 1738626



(p. 1) HOW satisfied are we with our jobs?

Gallup regularly polls workers around the world to find out. Its survey last year found that almost 90 percent of workers were either "not engaged" with or "actively disengaged" from their jobs. Think about that: Nine out of 10 ...


April 17, 2017, 5:33 am, 1738330



(p. B1) As the economy has shifted from one that primarily produced things -- refrigerators and cars, guns and shoes -- to one that now deals largely in services and information, economists have grown more and more skeptical that the traditional measure of gross domestic product -- ...


April 15, 2017, 5:33 am, 1738089



(p. 1) Kay Abramowitz has been working, with a few breaks, since she was 14. Now 76, she is a partner in a law firm in Portland, Ore. -- with no intention of stopping anytime soon. "Retirement or death is always on the horizon, but I have ...