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 .

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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.

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

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Moneyness (JP Koning)

February 9, 2017, 1:33 pm, 1718353

Donald Trump doesn't like the strong dollar, but is there anything he can do about it?

Last month Donald Trump told the Wall Street Journal that American companies can’t compete "because ...

January 30, 2017, 11:33 am, 1714910

The topic of euro breakup has slowly been trickling back in the news, especially with the potential for Italy leaving the currency union, a so-called Italexit. In this post I want to ...

January 17, 2017, 1:33 am, 1711018

Earlier this month I criticized the architects of India's recent note demonetization for not using the traditional overstamping technique for replacing large quantities of banknotes.

January 15, 2017, 1:33 am, 1710637

 In a recent podcast with Robert Hall, Russ Roberts asks:

"If the Fed was so aggressive, why didn't we have inflation? And does that mean that Milton Friedman and ...

January 6, 2017, 3:33 pm, 1708388
1913 Austro-Hungarian banknote with 1919 Czechoslovak overstamp
When Indian PM Narendra Modi and his small group of would-be monetary architects were putting together their ...

December 15, 2016, 1:33 am, 1702751

 We are more than thirty days into Narendra Modi's demonetization campaign, and while many of the commentators I follow say that it is admirable of Modi to try to reduce the role of black ...

December 14, 2016, 11:33 pm, 1702738
From the website
A few months ago  I stumbled on Kaushik Basu's fascinating and readable 2011 paper ...

December 2, 2016, 11:33 pm, 1699443

"America's only unwanted, unhonoured coin." - John Willem on the silver trade dollar.
The title for this post comes from the old trade dollar, a ...

November 18, 2016, 3:33 pm, 1695631

Anyone who makes an effort to study monetary economics quickly encounters the concept of Gresham's law, or the idea that bad money can often chase out good. Gresham's law is usually used to ...

November 13, 2016, 11:33 pm, 1693741

Prime Minister Narendra Modi's aggressive demonetization of the 500 and 1000 rupee note is causing plenty of chaos in India. A general shortage of money has emerged, massive lineups have formed at banks, ...