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

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Marginal Revolution

"Small steps toward a much better world”


September 22, 2014, 2:05 pm, 1339265

In 1960, 5 percent of Republicans and 4 percent of Democrats said that they would feel “displeased” if their son or daughter married outside their political party. By 2010, those numbers had reached 49 percent and 33 percent. Republicans have been found to like Democrats less than they ...


September 22, 2014, 2:05 pm, 1339266

September 22, 2014, 4:05 am, 1338916

Edward Luce writes in The Financial Times:

According to William Lazonick, a scholar at the University of Massachusetts Lowell, seven of the top 10 largest share repurchasers spent more on buybacks and dividends than their entire net income between 2003 and 2012. In the ...


September 22, 2014, 2:05 am, 1338869

If you want to know what Japan is up against consider that Japanese RGDP has grown by 0.00% per year over the past 6 1/2 years.  In contrast, Germany, the shining star of the European economy, has grown at 0.5% per year over the past 6 1/2 years.  Then consider ...


September 22, 2014, 2:05 am, 1338868

We again looked at those individuals moving into and out of the finance sector, but this time restricted the sample only to those doing a job with the same title in both the finance and non-finance sectors, focusing on generic job titles such as ‘function manager’, ‘ICT professional’, ‘secretarial’, ‘customer ...


September 21, 2014, 4:05 pm, 1338786

There is a symposium in The Guardian on that question, here is my short contribution:

Thomas Piketty’s Capital in the Twenty-First Century has been a hit for several reasons, most notably the quality of the work. But I’d like to focus on a neglected reason why the book has ...


September 21, 2014, 2:05 pm, 1338747

Susan Dynarski writes:

Public colleges are collecting about the same revenue per student today as they were 25 years ago. In 1988, educational revenue per full-time-equivalent student at public colleges was $11,300; in 2013, it was $11,500. (These amounts are adjusted for inflation and are expressed in 2013 dollars.)

Then why ...


September 21, 2014, 8:05 am, 1338643

This is the new and fantastic book by Arthur M. Melzer and the subtitle is The Lost History of Esoteric Writing.  It is the best book I know on esoteric writing and its history and furthermore it is clear and to the point!  (I think)

Melzer starts his chapter ...


September 21, 2014, 4:05 am, 1338575

Edward Hugh has a good post on this topic, here is one excerpt:

…there is simply no way incomes can rise across the entire economy because the baby boomers are now retiring to be replaced by fewer young workers with post labour reform entry-level wages. Japan’s overall consumer spending ...


September 20, 2014, 6:05 pm, 1338523