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?


Click on the chart for a larger version.


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”


July 29, 2016, 2:05 am, 1658470

Consider my previous hypothesis that so many yields have gone negative because of the insurance value of those relatively safe assets.  If that were true (true to some extent, I am not claiming that is the only factor behind the supply and demand curves), could


July 28, 2016, 6:05 pm, 1658327

That is the new Joel Mokyr book, due out in November, file under Arrived in My Pile.

Here is the book’s home page, here is a related talk.

The post *A Culture of Growth: The Origins of the Modern Economy* appeared first on ...


July 28, 2016, 6:05 pm, 1658326

Inside, two stocky men could be heard debating the merits of the different ambassadorships they hoped to earn under Mrs. Clinton. Even a low-ranking posting meant having “ambassador” on a child’s wedding invitation, the two agreed, and would be helpful in wrangling invitations to sit on corporate boards.

Here is ...


July 28, 2016, 2:05 pm, 1658242

Gautam Gowrisankaran, Stanley S. Reynolds, and Mario Samano have a new JPE paper on this very important question, here is their abstract:

A key problem with solar energy is intermittency: solar generators produce only when the sun is shining, adding to social costs and requiring ...


July 28, 2016, 10:05 am, 1658147

July 28, 2016, 2:05 am, 1658000

This possibly gated but excellent nonetheless piece is from the FT, here is one excerpt:

A few weeks ago was typical. After some time off, my feed aggregator displayed 794 blog posts, 56 of them foolishly filed into the “must read” folder. Here lay a polemic blasting ...


July 28, 2016, 2:05 am, 1657999

That is a paper from Amihai Glazer, here is the abstract:

A person may vote for a candidate to please citizens who prefer the same candidate, and to anger citizens who dislike the candidate. Such behavior is consistent with high turnout (though any one vote is unlikely to ...


July 27, 2016, 2:05 pm, 1657773

That is the latest entry in the Conversations with Tyler series, here is the transcript, audio, and video.  Here is the overview:

Michael Orthofer, one of the world’s most prolific book reviewers, joins Tyler Cowen for a conversation on — what else? — books. Read to discover why Michael believes ...


July 27, 2016, 8:05 am, 1657644

That is the counterintuitive take from my latest Bloomberg column.  Here is one part of the argument:

Perhaps the most overlooked point is that the supply of negative-yielding securities is not so large relative to total global wealth. A recent Credit Suisse estimate suggested that global wealth ...


July 27, 2016, 8:05 am, 1657643

Here’s Four Reasons Financial Intermediaries Fail the latest video from our Principles of Macroeconomics class at Marginal Revolution University.

As always, these videos go great with our superb textbook, Modern Principles of Economics, but they can be used with any textbook. In fact, if you teach economics and ...