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 .
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.
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?
The Economics Roundtable is sponsored by EconModel.
The Classic Economic Models cover micro, macro, and financial markets.
The Levy Economics Institute Blog
1. What Should Brazil Do?
This part of the series (see Parts I and II, here and here) will focus on macroeconomic and microeconomic aspects of financial fragility and the provision of liquidity. Minskyâ€™s framework not only sheds light on how to detect unsustainable financial practices, but the position adopted ...
Jim Vrettos, a sociologist at John Jay College and host of “The Radical Imagination”, interviewed the Levy Institute’s Randy Wray on how the discipline of economics has gone astray. Wray’s story begins in the late 1960s, with what he describes as a reaction against “New Deal economics.”
The interview ends with ...
This series will discuss at length the underlying forces behind Brazilâ€™s current crisis. (See Part I here)Part II
Building on Keynesâ€™s investment theory of the cycle, Minskyâ€™s work suggests that the structure of the economy becomes more fragile over a period of tranquility and prosperity. That is, endogenous ...
A crowdfunding campaign starting October 2016, on Indiegogo:
Overall aim: Â To complete the publication of allÂ of Keynesâ€™s remaining unpublished writings of academic significance.
Only about one third were published in the ...
This is the first in a series of blog posts on the Brazilian crisis.Part I
byÂ Abhishek Anand and Lekha ChakrabortyÂ 
The global market was eagerly waiting for the July Monetary Policy Statement of the Bank of England (BoE). Speculation was rife that, post Brexit, the BoE would become the latest entrant into the set of central banks experimenting with negative interest rate policy (NIRP) ...
A new book edited by Michael Jacobs and Mariana Mazzucato and featuring contributions from Joseph Stiglitz, L. Randall Wray, Stephanie Kelton, and others will beÂ released tomorrow:
TheÂ TOC is below: