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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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
That is the new Joel Mokyr book, due out in November, file under Arrived in My Pile.
The post *A Culture of Growth: The Origins of the Modern Economy* appeared first on ...
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 ...
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 ...
1. Judge orders suspect to cover his tattoos with makeup for trial (also a semi-noisy video at that link).
2. An older but very good blog post: against the demonization of the confidence fairy.
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 ...
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 ...
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 ...
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 ...
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 ...