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?


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EconModel

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Moneyness (JP Koning)


February 3, 2016, 3:33 pm, 1605013


The Federal Reserve may be in a bit of a bind.

With the Bank of Japan reducing rates to -0.1%, many commentators are calling on the Fed to reverse its ...


February 1, 2016, 5:34 pm, 1604261


Will the Bank of Japan's negative rates work?

Many people say no, among them Louis-Phillippe Rochon here:

They are based on a faulty understanding of our banking system. The ...


January 29, 2016, 11:33 pm, 1603657

It's healthy to ask others for a sound check every now and then. I'm going to give a short description of how I see the monetary policy transmission process working, then readers can ...


January 25, 2016, 1:33 pm, 1601798

One more post on equity deposits.

My last post described a dirt cheap (and hypothetical) way for long-term investors to get exposure to equities. Briefly, an investor commits a certain amount ...


January 11, 2016, 1:33 am, 1597630
John Bogle, father of passive investing
With fees as low as 0.10%, passively managed ETFs are one of the cheapest ways ...


January 3, 2016, 9:33 pm, 1595551

Juan Galt recently introduced me to one of bitcoin's biggest problems. Bitcoin is not money, at least not according to the law.

Economists like to say that money ...


December 26, 2015, 1:33 am, 1594011

A recent tweet from Matthew Yglesias made me smile:


December 24, 2015, 3:33 pm, 1593901
John Maynard Keynes and Harry Dexter White, who contributed to the design of the Bretton Woods system
David Glasner's piece on the gold standard got ...


December 19, 2015, 3:34 pm, 1592546


January 1, 2021

Jessie Smith, who owns a dusty motel in Beowawe, Nevada, had to turn away customers yesterday. No vacancy, Smith told the recent arrivals, the ...


December 4, 2015, 7:33 pm, 1586537

How much is a corporate vote worth? To answer this question, look no further than behemoth Google. One voting share costs $779, around 1.7% more than a non-voting share at $764.

Why ...