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.


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Ed Dolan’s Econ Blog

"A Resource for Teachers of Economics”

August 18, 2014, 12:44 pm, 1320392
Everywhere you look, it seems, people are talking about a Universal Basic Income (UBI)—a monthly cash benefit paid to every citizen that would replace the existing means-tested welfare system.

Supporters maintain ...

August 13, 2014, 8:44 pm, 1318123
Paul Krugman is at it again with a stunningly ignorant NYT op-ed on libertarians and the environment, “Phosphorus and Freedom.” As the author of a book on the libertarian perspective on environmental policy, I would like to respond.

Phosphorus comes into the picture in ...

August 6, 2014, 10:44 am, 1312998
Recently I came across this assertion in a comment box on one of my favorite websites: “The cost to fuel your car has never been higher as a percentage of disposable income.”

Really? ...

August 5, 2014, 6:44 pm, 1311870
The Bureau of Labor Statistics reported today that the broad unemployment rate, U-6, fell to 12.2
percent in May. As the following chart shows, that was a new low for the ...

August 5, 2014, 6:44 pm, 1311869
On Wednesday, the Russian news agency RIA-Novosti announced that Konstantin Yankauskas, a this earlier post, the fight against corruption was the principal plank in Navalny’s campaign.
deputy of the Moscow ...

August 5, 2014, 6:44 pm, 1311871
The second revision of the US national income accounts for the first quarter of 2014, released today by the Bureau of Economic Analysis, showed that real GDP fell at an annual rate of -1.0 percent. The advance report had shown an annual rate of increase of ...

August 5, 2014, 6:44 pm, 1311866
The third estimate of U.S. real GDP for Q1 2014, released this week by the Bureau of Economic Analysis, showed that the economy contracted at a 2.9 percent annual rate in the quarter. ...

August 5, 2014, 6:44 pm, 1311865
According to the latest public opinion poll from CNNMoney, 61 percent of Americans think it will this slideshow for charts and analysis of the latest GDP revisions.)
take three more ...

August 5, 2014, 6:44 pm, 1311867
Writing for the Upshot section of the New York Times, Harvard economist Greg Mankiw has weighed
in on the Pikkety debate. He accepts Pikkety’s scenario of ever increasing inequality as at ...

August 5, 2014, 6:44 pm, 1311868

Recently Bill Gardner, a contributor to the healthcare policy blog The Incidental Economist, posted a piece titled “Disseminating Research: Translators Needed.” His comments are relevant to economics ...