Economics Roundtable

Database Maintenance 7/4/15

Routine database maintenance will induce some duplicated items for the next day or two.

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.

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

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"A blog of the NYU Colloquium on Market Institutions and Economic Processes”

July 5, 2015, 12:34 am, 1502093

by Roger Koppl

Oliver Blanchard tells us “Where Danger Lurks”  in the macro-finance world.

The big theme is nonlinearity, which is a profoundly conservative move: DSGE modeling is just fine and we don’t need to rethink it at all. We just need to add in some nonlinearities. Blanchard does not tell ...

July 5, 2015, 12:34 am, 1502096

by Mario Rizzo

It is tempting to over-romanticize a person when he or she is gone. I will strive to be balanced in keeping with how I feel and think about Gary Becker.

I am saddened by his recent death (May 3rd). I have known him since at least 1974 – some ...

July 5, 2015, 12:34 am, 1502097

by Alexander Czombera*

If there is one single law in economics then it is that markets tend to equilibrium. Or, to align this with Grove’s law  (“Technology will always win. You can delay technology by legal interference, but technology will flow around legal barriers”), the free market will find its ways, ...

July 5, 2015, 12:34 am, 1502094

by Glen Whitman

Last year in this space, I posted the Call for Abstracts for a forthcoming book called Economics of the Undead. That project is now coming to fruition! The book will officially be published tomorrow; here’s the Amazon page, and here’s the Barnes & Noble page. (The ...

July 5, 2015, 12:34 am, 1502095

by Edward Stringham

As a professor, I am a fan of rigorous economic research, but I am also a fan of helpingstudents learn about how important economics is in an engaging way. John Papola did an excellent job with the Keynes Versus Hayek music videos (especially thesecond one with yours ...

June 30, 2015, 2:35 pm, 1499440

by Edward Stringham

We hear of high profile cases of police killings, but few look at the larger picture of how often American citizens are killed by police. What is the rate at which police kill citizens and how does that compare to other homicide rates? Although

June 30, 2015, 2:35 pm, 1499439

Jerry O’Driscoll

The Association of Private Enterprise Education will hold its annual meeting in Las Vegas, Nevada, April 3rd to 5th, 2016. This year’s conference theme is Capitalism: Free-Market or Crony? Papers are welcome on that topic, as well as other topics relevant to market economies. That list certainly includes Austrian ...

May 20, 2015, 2:35 pm, 1477737

by Edward Stringham

I have enjoyed working with excellent colleagues and Ph.D. students at Texas Tech University, but I am thrilled to be hired as an endowed chair at Trinity College in Hartford, Connecticut. Undergraduate students interested in private enterprise, drop everything you are doing and enroll now! ...

May 11, 2015, 12:35 pm, 1472073

by Ed Stringham

If you are interested in earning a Ph.D., or if you know someone who is, I strongly recommend studying at Texas Tech University where I have had the pleasure to teach this past year. At the center of the action is my good friend, Benjamin ...

April 21, 2015, 12:35 pm, 1459033

By Ed Stringham

I am pleased to have been selected as the next President of the Society for the Development of Austrian Economics. Many economists including Karen Vaughn, Mario Rizzo, Peter Lewin, Steve Horwitz, and Peter Boettke, have done great work and help make the society far bigger than ...