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

The Economics Roundtable is sponsored by EconModel.

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


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Marginal Revolution

"Small steps toward a much better world”


November 26, 2014, 6:05 pm, 1378589

…of those in middle-skill occupations who remain in a full-time job, about 83 percent are still working in a middle-skill job one year later. … What types of jobs are the other 17 percent getting? Mostly high-skill jobs; and that transition rate has been rising. The percent going from a ...


November 26, 2014, 12:05 pm, 1378409

The most contentious may be one put forward by a group called Ecopop, which would limit immigration to 0.2 per cent of the resident population. That has alarmed businesses, who worry it would make it harder to hire skilled staff and sour relations with the EU, which is Switzerland’s largest ...


November 26, 2014, 10:05 am, 1378327

November 26, 2014, 2:05 am, 1378077

We are running a contest for MRU, and the goal is to figure out how economists ought to be put on cereal boxes.  Imagine that a famous economist would in fact be represented by a cereal and a cereal box.  For example there would be:

Thomas Piketty, ...


November 26, 2014, 2:05 am, 1378076

If you are going to ask “when will China clean up its air?”, you might wish to look at South Korea, a country with a broadly similar industrial profile, although of course Korea is much further along in terms of economic development.

As of 2002, South Korea was ranked ...


November 25, 2014, 4:05 pm, 1377807

November 25, 2014, 2:05 pm, 1377729

November 25, 2014, 2:05 pm, 1377728

The Bloomberg editorial staff says no:

Videos often lack critical context, and studies have repeatedly shown that jurors can be misled by variables such as a film’s angle or focus, which can unduly sway perceptions of guilt. That cuts both ways: Footage of a protester bumping ...


November 25, 2014, 8:05 am, 1377503

James Pethokoukis points us to this graph in the CBO’s new report on innovation. Patenting is way up but total factor productivity has barely budged. 

Boldrin, Allamand, Levine, and Ornaghi show something similar cross-sectionally, namely that the industries with the ...


November 25, 2014, 4:05 am, 1377376

There are some interesting and under-reported papers on this topic, here is one of them, by Jordan D. Matsudaira and Emily Greene Owens, here is the abstract:

In 2006, approximately 49% of violent crimes were not reported to police. Being the victim of sexual assault is expensive; each incident ...