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.


The Economics Roundtable is sponsored by EconModel.

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

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Liberty Street Economics (NY Fed)

Liberty Street Economics features insight and analysis from economists working at the intersection of research and Fed policymaking. 

July 18, 2016, 7:34 am, 1654522
Tobias Adrian, Richard Crump, Peter Diamond, and Rui Yu

In a previous post, we showed how market rates ...

July 15, 2016, 7:34 am, 1653918
Antoine Martin, Patricia Mosser, and Julie Remache

Columbia University’s School of International and Public Affairs and the New York Fed co-sponsored a recent workshop to discuss important issues related to monetary policy implementation. The May 4 event, held at Columbia, supports the extended effort that the ...

July 15, 2016, 7:34 am, 1653917
Mary Tao

Did you know that the Federal Reserve once had not one, but two offices in Cuba?

In the early ...

July 13, 2016, 7:34 am, 1653264
Dong Beom Choi and Ulysses Velasquez

How does monetary policy affect spending in the economy? The economic literature suggests two main channels of monetary transmission: the money or interest rate channel and the bank lending channel. The first view focuses on changes in real interest rates resulting from ...

July 11, 2016, 7:34 am, 1652543
Gara Afonso and Sam Stern

Over the last decade, the federal funds market has evolved to accommodate new policy tools such as interest on reserves and the overnight reverse repo facility. Trading motives have also responded to the expansion in aggregate reserves as the result of large-scale ...

July 8, 2016, 7:34 am, 1651968
A Conversation with Ken Garbade

Few people know the Treasury market from as many angles as KenGarbade, a senior vice president in the Money and Payments Studies area of the New York Fed’s Research Group. Ken taught financial markets at NYU’s graduate school of business for ...

June 29, 2016, 7:34 am, 1649419
Alexander Kroeger and Asani Sarkar

The Federal Open Market Committee implements monetary policy by ...

June 27, 2016, 7:34 am, 1648727
An interview with Jamie McAndrews

As Director of Research for the New York Fed ...

June 24, 2016, 11:34 am, 1648221
Jason Bram and Daniele Caratelli

June 22, 2016, 7:34 am, 1647449
Thomas Klitgaard and Harry Wheeler

Japan’s general government debt-to-GDP ratio is the highest of advanced economies, due in ...