Economics Roundtable

Technical Problems 3/9/15

The website was down several hours today, but is back up now.

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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Moneyness (JP Koning)

May 14, 2015, 1:33 pm, 1474587

The FT makes a hullabaloo out of Greece using special drawing rights (SDR) to pay the IMF earlier this week, referring to the step as "unusual." Zero Hedge predictably 

May 11, 2015, 11:33 pm, 1472499

Measuring liquidity is a pain in the ass.

The value of a good, say an apple, is easy to calculate; just look at the market price for apples. ...

May 4, 2015, 5:33 pm, 1467394

It would be wrong to blame the economics blogosphere's failure to foresee the 2008 credit crisis on complacency. Better to say that bloggers were distracted. Instead of sifting through sub-prime and CDO data, they were grappling with ...

April 24, 2015, 11:33 am, 1461268
Unfathomable Depths by Ibai Acevedo
Denmark's Nationalbank and the Swiss National Bank are the world's most interesting central banks right now. As the ...

April 17, 2015, 1:33 pm, 1457308

John Cochrane has written two posts that question the ability to implement negative interest rates given the wide range of 0%-yielding escape hatches available to investors. These escapes include gift ...

April 13, 2015, 5:33 pm, 1454663

Last week Citi's Willem Buiter published a note on the three ways to get rid of the effective lower bound to nominal interest rates, one of which ...

April 8, 2015, 11:33 pm, 1452584

In his first blog skirmish, Ben Bernanke took on Larry Summers' secular stagnation thesis, generating a slew of commentary by other bloggers. If ...

March 28, 2015, 5:33 pm, 1447047
Here's a conundrum. Many commentators have been trying to puzzle out why stocks have been continually hitting new highs at the same time that bond yields have been hitting new ...

March 18, 2015, 11:33 am, 1441342

Central bankers are usually classified as either hawks or doves. This post is devoted to a third and rare breed; today's monetary policy canaries. Having taken their respective deposit rates to ...

March 12, 2015, 11:33 pm, 1438594

Here's an interesting fact. Remember all those worthless Zimbabwe paper banknotes? The Reserve Bank of Zimbabwe (RBZ), Zimbabwe's central bank, is officially buying them back for cancellation. According to its recent monetary policy ...