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 .
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.
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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The Classic Economic Models cover micro, macro, and financial markets.
Moneyness (JP Koning)
Recent market action is a good reminder of the asymmetry in markets. In general, stock market rises don't look like stock market declines. Stock ...
It's been a while since I blogged about Canadian monetary policy, but Luke Kawa's recent tweet on the topic of Canada's effective lower bound got me thinking.
I have been hitting me head against the wall these last few weeks trying to understand Chinese monetary policy, ...
Of all the axioms of utility theory, the completeness axiom is perhaps the most questionable. - Robert Aumann, Nobel Prize Winner
We keep a well-stocked wallet in our ...
The whippersnappers who work in the cryptocurrency domain are moving incredibly fast.
As I've been saying for a while, assets like bitcoin (or stocks) are unlikely to become popular as exchange media; ...
I catch both Lars Christensen and Brad DeLong making the claim that an introduction of the drachma will work wonders for Greece. Lars, for instance, says that:
However, Grexit will also remove the monetary straitjacket, ...
Statistical agencies employ data collectors who walk up and down aisles with hand-held computers gathering sticker prices for things like frozen french fries and bicycles. The data they ...
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 ...
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 ...