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

Grumpy Economist (John Cochrane)


September 19, 2018, 6:40 pm, 1900964
The discussion over health policy rages over who will pay -- private insurance, companies, "single payer," Obamacare, VA, Medicare, Medicaid, and so on -- as if once that's decided everything is all right -- as if once we figure out who is paying the check, the provision of health care ...


September 10, 2018, 11:09 am, 1898046
Argentina should dollarize, says Mary Anastasia O'Grady in the Wall Street Journal-- not a peg, not a currency board, not an IMF plan, just give up and use dollars.

Another currency crisis is roiling Argentina... The peso has lost half its value against the U.S. dollar since January. ...


September 5, 2018, 1:29 pm, 1896698
A narrow bank would be a great thing. A narrow bank takes deposits, and invests 100% of the money in interest-paying reserves at the Fed. (The Fed, in turn, mostly invests in US treasuries and agency securities.)

A narrow bank cannot fail*. It cannot lose money on its assets. ...


September 5, 2018, 1:29 pm, 1896697
A narrow bank would be a great thing. A narrow bank takes deposits, and invests 100% of the money in interest-paying reserves at the Fed. (The Fed, in turn, mostly invests in US treasuries and agency securities.)

A narrow bank cannot fail*. It cannot lose money on its assets. ...


September 4, 2018, 7:10 pm, 1896398

“As fires rage up and down the state of California, costing our taxpayers billions of dollars and threatening our families’ health—- the need for California to move to 100% clean, renewable energy could not be more urgent,” said Mr. de León in a statement.

Sen. Kevin de León, a ...


August 29, 2018, 7:09 am, 1894633
A Wall Street Journal Oped, From July 29 2018. Now that 30 days have passed, I can post the whole thing.

The Tax-and-Spend Health-Care Solution

Honest subsidies beat cross-subsidies. They’d encourage competition and innovation.

By John H. Cochrane

Why is paying for health care such ...


August 27, 2018, 5:09 pm, 1894105
Post-apocalyptic life in American health care is a fantastic blog post on the state of American health care and insurance. (HT Marginal Revolution)

Bottom line:

American health care organizations can no longer operate systematically, so participants are forced to act in the communal mode, as if in ...


August 24, 2018, 12:40 am, 1893205

Link here.

In case you don't get it, see previous posts on buybacks hereand here, that explain how buybacks do not affect share prices, and certainly cannot ...


August 16, 2018, 12:10 pm, 1890673
Alex M. Azar, U.S. secretary of health and human services, published an interesting OpEd in the Washington Post, describing a clever health insurance innovation. HHS will allow "temporary" health insurance, including a guaranteed renewability provision. The HHS announcement is here and the official rule on the Federal ...


August 13, 2018, 6:11 pm, 1889398
My colleague Steve Davis has a nice post quantifying economic uncertainty due to the trade war, and its emerging impact on investment.

Steve (and Nick Bloom) have done a great job quantifying policy uncertainty over time. To be clear, policies can have two effects -- there is the ...