Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

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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?

Click on the chart for a larger version.


The Economics Roundtable is sponsored by EconModel.

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Multiplier Effect

The Levy Economics Institute Blog

October 7, 2016, 5:23 pm, 1681906

Pavlina Tcherneva joins Laura Flanders to discuss the need for a more gender-aware economics:

October 5, 2016, 11:23 am, 1681083

Designed as a terminal degree with a professional focus, the Levy Economics Institute Master of Science in Economic Theory and Policy offers students an alternative to mainstream graduate programs in economics and ...

September 20, 2016, 1:23 pm, 1677032
by Felipe Rezende Part IV

This last part of the series (see Part I, II, and III here, here, and here) will focus on the Brazilian response to the crisis.

1. What Should Brazil Do?

The current Brazilian crisis fits with Minsky’s theory of instability (see here, here, and ...

September 6, 2016, 5:23 pm, 1670650
by Felipe Rezende Part III

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. Minsky’s framework not only sheds light on how to detect unsustainable financial practices, but the position adopted ...

September 1, 2016, 1:23 pm, 1669510

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 ...

August 24, 2016, 11:23 am, 1667226
by Felipe Rezende

This series will discuss at length the underlying forces behind Brazil’s current crisis. (See Part I here)

Part II

Building on Keynes’s investment theory of the cycle, Minsky’s work suggests that the structure of the economy becomes more fragile over a period of tranquility and prosperity. That is, endogenous ...

August 22, 2016, 3:23 pm, 1666622

A crowdfunding campaign starting October 2016, on Indiegogo:

Overall aim:  To complete the publication of all of Keynes’s remaining unpublished writings of academic significance.

Only about one third were published in the ...

August 22, 2016, 3:23 pm, 1666621

August 15, 2016, 1:23 pm, 1664492

August 12, 2016, 3:23 pm, 1663945
by Felipe Rezende

This is the first in a series of blog posts on the Brazilian crisis.

Part I

A consensus has emerged in Brazil (and elsewhere) blaming Rousseff’s “new economic matrix” policies for the country’s worst crisis since the Great Depression (see here, here, here, here, and