Economics Roundtable

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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Multiplier Effect

The Levy Economics Institute Blog


April 25, 2016, 1:23 pm, 1629719

This is apparently the latest cover of Time magazine:

The idea that the US government or the nation as a whole is “insolvent” has an undying appeal. The fear ...


April 22, 2016, 11:23 am, 1629091

The big political story in Brazil is the potential impeachment of President Dilma Rousseff (Brazil’s lower house of congress voted in favor of impeachment; the motion now moves to the senate for consideration). To get an idea of how messy this situation is, note that the man leading the impeachment attempt, Speaker of the House Eduardo Cunha, ...


April 12, 2016, 1:23 am, 1625776

Audio from the 25th Annual Minsky Conference will be broadcast live. Listen here beginning tomorrow at 9am.

Tuesday, April 12 9:00−9:15 a.m. Welcome and Introduction
Dimitri B. Papadimitriou, President, Levy Institute 9:15−10:30 a.m. Session 1. GLOBAL FRAGILITY AND EMERGING MARKETS OUTLOOK
MODERATOR: Theo ...


April 5, 2016, 1:23 pm, 1624038
This is the first of a series of blog posts on the Brazilian crisis by Felipe Rezende.

There are two major crises Brazil’s President Dilma Rousseff is facing: one is a political crisis and the other is Brazil’s sharpest recession in 25 years.

Brazil’s Political Crisis

The political crisis has two ...


April 4, 2016, 11:23 am, 1623616


March 24, 2016, 11:23 am, 1620778

The preliminary program has been posted for the 25th Annual Hyman Minsky Conference, being held April 12-13 here at Blithewood on the Bard College campus.

The deadline for registration is April 1st.

Tuesday, April 12 8:30−9:00 a.m. Registration 9:00−9:15 a.m. Welcome and Introduction
Dimitri ...


March 18, 2016, 3:23 pm, 1619203

Related: “Euroland’s Original Sin” (pdf)


March 14, 2016, 11:23 am, 1617611

Bloomberg just published an article focused on the rise of Modern Money Theory (MMT), featuring comments by Senior Scholar Randall Wray:

The 20-something-year-old doctrine, on the fringes of economic thought, is getting a hearing with an unconventional take on government spending in nations with their own currency.

Such countries, the MMTers argue, face ...


March 9, 2016, 11:23 am, 1616259

These are not happy times for Europe. Ukraine, Russia, and rising anti-democratic influences in Hungary and Poland represent latent threats at the European Union’s eastern front. The prospect of Brexit is a more acute one at its western front.

After letting loose manifold conflicting forces that continue shaping internal politics in ...


March 7, 2016, 11:23 am, 1615555