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)


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 IPaidaBribe.com
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, ...


November 8, 2016, 5:33 pm, 1692050

Prime Minister Narendra Modi surprised Indians today by announcing that India's highest denomination notes, the 500 and 1000 rupee, will cease to be legal tender. On first ...


November 6, 2016, 1:33 am, 1690836
The US$5000 banknote, destroyed in 1969 along with the $10,000, $1000, and $500 notes
With the publication of his new book The Curse of ...