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?


Click on the chart for a larger version.


EconModel

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Moneyness (JP Koning)


October 19, 2014, 1:33 pm, 1353712

Recent posts by Adrian Hope Baille and Sina Motamedi have got me thinking again about the idea of the Federal Reserve (or any other central bank for ...


October 12, 2014, 1:33 pm, 1349811


I gave myself a quick whiff this week to determine if I pass the market monetarist smell test. This is by no means definitive, nor is this an officially administered MM® test.


October 4, 2014, 1:33 pm, 1346051
American Depository Receipt (ADR) for Sony Corp
You've heard the story before. It goes something like this. There's one unique good in this world ...


September 28, 2014, 11:33 pm, 1342665
One of the coining press rooms in the Tower of London, c.1809 [link]
[This is a guest post by


September 24, 2014, 1:33 pm, 1340614
1685 Guinea with the bust of James II (link)
The guinea makes a fascinating story because its evolution reveals so many different monetary phenomena. It ...


September 14, 2014, 9:33 pm, 1334794
Photo by Spencer Tunick, Netherlands 8 (Dream Amsterdam Foundation) 2007 [link]
If short sellers are considered to be the ...


September 11, 2014, 11:33 pm, 1333622
The textbook definition of money is anything that functions simultaneously as a store of value, a medium of exchange, and a medium of account. This is the monetary triumvirate, and we need ...


September 6, 2014, 9:33 pm, 1330547

Having reduced the ECB's overnight target rate to +0.05% and the deposit rate to -0.2%, Mario Draghi confidently told those assembled at Thursday's press conference that the ECB wants ...


August 30, 2014, 11:33 am, 1326997
Berkshire Hathaway annual general meeting
When you purchase a share you're not only getting the opportunity to make some extra cash. You're also buying a vote. ...


August 20, 2014, 1:33 am, 1321434
A 1795 Spanish dollar, minted in Mexico, with several chopmarks
One of the most interesting things about bitcoin, ripple, and other cryptocurrencies is how ...