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.


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 .


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.


EconModel

The Economics Roundtable is sponsored by EconModel.

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


RSS Feed

TaxVox

Tax Policy Center:  Urban Institute and Brookings Institution


November 20, 2014, 6:34 pm, 1375290

Pardon me for being confused. Two weeks ago, voters turned the Senate and several state houses over to Republicans and increased the GOP majority in the House. Now, in a new Wall Street Journal-NBC News poll, (firewall) Americans have firmly embraced—a Democratic agenda.

They want more government spending on roads ...


November 20, 2014, 4:34 pm, 1375214

The Cato Institute has organized an online forum to debate pro-growth economic policy reforms. Tax Policy Center scholars Bill Gale, Donald Marron, and Eric Toder have each contributed to the discussion.

As policy makers search for ways to raise economic growth and improve the living standards of future generations, a ...


November 20, 2014, 8:34 am, 1374896

As expected: Paul Ryan will succeed Dave Camp as House Ways & Means Chair. Representative Kevin Brady removed himself from consideration earlier this week, though he had more committee seniority. The full House GOP conference approved its  Steering Committee’s chairmanship recommendations, including Jason Chaffetz  to replace Darrell Issa on the ...


November 19, 2014, 8:34 am, 1374164

A Senator says “no way” to a bill that won’t see December’s light of day. As far as the lame-duck Congress is concerned, the Marketplace Fairness Act is dead: House Speaker John Boehner assured as much last week. Senator Ted Cruz has added his two cents ...


November 18, 2014, 4:34 pm, 1373685

The latest narrative making the rounds in Washington is that President Obama will kill prospects for tax reform in 2015 if he grants legal status to undocumented immigrants though an executive order. House Speaker John Boehner (R-OH) and others claim that this step will so poison the well of trust ...


November 18, 2014, 4:34 pm, 1373684

The National Tax Association gave this year’s Dan Holland Medal for outstanding contributions to the study and practice of public finance to MIT professor Jim Poterba.

Jim, who is also president of the National Bureau of Economic Research, is a terrific economist and one of the nicest people you’ll ever meet. ...


November 18, 2014, 8:34 am, 1373361

Inversion is the gift that keeps on giving for Actavis. Last year the pharmaceutical company reincorporated from its Parsipanny, New Jersey, home to Ireland, after a $5 billion deal with Warner Chilcotte. This year, before Treasury’s inversion curbs took effect, it purchased New York-based Forest Laboratories for $25 ...


November 17, 2014, 4:34 pm, 1372951

The Department of Energy snookered the media last week with a report that seems to show that its clean energy lending programs are profitable. “Remember Solyndra? Those loans are making money,” went a typical headline.

Unfortunately, that’s not true. Taxpayers are losing money on DOE lending. Less than originally ...


November 17, 2014, 8:34 am, 1372670

On the Hill this week: House Republicans will choose either Paul Ryan or Kevin Brady to be the next Ways & Means Committee chair. But Ryan would have to give up the gavel if he chooses to run for president, according to a new party rule approved last ...


November 14, 2014, 8:34 am, 1371359

There’s more than one way to skin a cat (and reduce taxes). Warren Buffett, chairman of Berkshire Hathaway, has made a swap for Procter & Gamble’s interest in Duracell. The “cash-rich split-off” means that Berkshire Hathaway bought Duracell in exchange for its appreciated P&G stock, worth $4.7 billion. Capital gains ...