Economics Roundtable

Technical Problems 3/9/15

The website was down several hours today, but is back up now.


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.


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 .


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.


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.


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Marginal Revolution

"Small steps toward a much better world”


July 3, 2015, 4:05 am, 1501021

From Max Ehrenfreund:

…because of an obscure law known as the Jones Act, which bans foreign vessels from shipping goods between U.S. ports, businesses in Puerto Rico have to use the U.S. merchant marine to import anything. They can’t just hire whatever boats and crew are available, which ...


July 3, 2015, 2:05 am, 1500986

Robert Laszewski writes:

After all of this and two complete open enrollments, only 40% of those who are eligible for Obamacare have signed up—far below the proportion of the market insurers have historically needed to assure a sustainable ...


July 2, 2015, 4:05 pm, 1500852

“The law will not treat a ledger record as authoritative if everyone knows that the current longest chain contains blocks generated by an anonymous attacker who replaced a bit of history that was chronologically prior,” he says. “In financial markets there’s always a mechanism to correct an attack. In a ...


July 2, 2015, 2:05 pm, 1500760

July 2, 2015, 2:05 pm, 1500759

A study of the chestnut-crowned babbler bird from Australia revealed a method of communicating that has never before been observed in animals.

The bird combines sounds in different combinations to convey meaning.

The findings could help in the understanding of how language evolved in humans, researchers report in the online journal


July 2, 2015, 8:05 am, 1500530

The Greek story is being framed as a battle between the Greeks and the Germans and thus between spending and austerity. But this frame can’t make sense of the fact that, win or lose, large numbers of Greeks will vote for austerity on Sunday.

To understand what’s really going on, listen ...


July 2, 2015, 2:05 am, 1500387

Kevin Love, in his infinite wisdom, decided to test the free agent market.  At least for a while, it seemed to raise the possibility that he wouldn’t return to the Cleveland Cavaliers with LeBron James.

Courtside critics of Love frequently cite the Coase theorem, especially when criticizing his play this last ...


July 1, 2015, 8:05 pm, 1500317

I’m seeing this idea slandered in my Twitter feed, so perhaps I should add to the rising critique of POTUS on this one:

The late chef Michael Roberts was the inventive Southern Californian who created a green pea guacamole. I was puzzled by the unusual yet pleasing ...


July 1, 2015, 2:05 pm, 1500099

July 1, 2015, 10:05 am, 1499949