Economics Roundtable

NOTICE 4/30/18

The Economics Roundtable is back. The technical problem that has limited the set of blogs has been resolved. The RSS feed is, however, still not working.

Flushing caches will likely cause some old posts to show up for a day or two.


Employment as a Percentage of Population

The graph below shows employment as a fraction of population for people over 16 years old.


Click on the image to get a bigger version.


March 2017 Payroll Employment

Payroll employment has not grown impressively since 2000. Some baby-boomers retired, but that does not totally account for this graph.

Click on the image to get a bigger version.


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.


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.


RSS Feed

Moneyness (JP Koning)


November 13, 2018, 2:39 pm, 1920425


Two years ago, Indian PM Narendra Modi suddenly demonetized all of the nation's₹1000 and


November 4, 2018, 6:39 am, 1915882

Over on the discussion board, Oliver and Antti suggest that I read two essays from Alfred Mitchell-Innes. Here are a few thoughts.

A British diplomat, Mitchell-Innes was ...


October 23, 2018, 2:39 pm, 1910496


While our modern monetary system certainly has plenty of detractors, one of its successes is that we no longer need the ...


October 13, 2018, 7:08 am, 1907199


A few months ago Vijay Boyapati asked me to "steel-man" the bubble theory of money. The bubble theory of money, which can originally be ...


September 26, 2018, 11:47 am, 1902694
Earlier this month the following tweet elbowed its way onto my Twitter timeline:


September 23, 2018, 2:38 pm, 1901770


Nations never experience year-over-year declines in cash in circulation. Sweden (which I wrote about here, here, and here) is one of the rare exceptions. India is another, ...


September 7, 2018, 10:38 pm, 1897655

A strange new bank called TNB, or The Narrow Bank, recently applied to get a clearing account at the Federal Reserve Bank of New York, only to be refused. Funny enough, ...


August 31, 2018, 10:08 am, 1895429

I executed one of the oddest financial transactions of my life earlier this week. I did Norbert's Gambit.

These days a big chunk of my income is in U.S. dollars. ...


August 23, 2018, 12:08 pm, 1892979
SWIFT headquarters in Belgium (source)
German foreign minister Heiko Maas recently penned an article in which he said that "it’s ...


August 17, 2018, 11:47 pm, 1891263


A few centuries ago, lack of fungibility used to be a big weakness of monetary systems. But technological and legal developments eventually solved the problem. Nascent ...