Economics Roundtable

NOTICE 9/30/177

The Economics Roundtable website has been up and running for a couple of days now. Further periods of testing will be necessary. The RSS feed is still not working. The left sidebar links are also probably not updating correctly.

The problems were caused by updates to the programming language php and to the Apache operating system. It is taking time to track down the problems this causes with my system. - Bill Parke

March 2017 Fed Funds Rate

What is the effect of a 0.25% change in the Fed Funds rate?.

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March 2017 Payroll Employment

Payroll employment has not grown impressively since 2000. Some baby-boomers retired, but that does not totally account for this graph.

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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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Crooked Timber

"Out of the CROOKED TIMBER of humanity, no straight thing was ever made.”


September 19, 2017, 4:35 am, 1776978

I’m doing some work on privatisation and wanted to look at recent UK experience with the Private Finance Initiative. So, I Googled for PFI in the last year (as Google personalizes searches, your mileage may vary). The result is a surprising degree of unanimity. Across the ...


September 12, 2017, 1:14 pm, 1771800

Over the last couple of months, I’ve been involved in an on-and-off floating argument over Nancy MacLean’s book on James Buchanan and public choice, Democracy in Chains. This essay, with Steve Teles, lays out the problems we see with the book. The book makes very big claims e.g. that ...


September 12, 2017, 1:14 pm, 1771799

I’ve just given a couple of talks focusing on inequality, one for the Global Change Institute at UQ, following a presentation by Wayne Swan and the second at a conference organized by the TJ Ryan Foundation (including great talks by Peter Saunders, Sally McManus, and others), where I ...


August 8, 2017, 8:04 pm, 1770608

I tend to post about relatively frivolous stuff. But today is shaping up pretty serious. Global warming report. North Korea and Trump rattling sabers. I’m a pessimist at heart, which makes these headlines so alarming I have trouble thinking clearly. What do I think the really important, consequential ...


August 2, 2017, 8:04 am, 1768340

I read the same piece by Jacob Levy that Chris liked, but didn’t agree with the core argument. Below the fold, why:

Jacob’s basic argument is straightforward – calls for democratic control over the econonomy are based on a spurious history. People never had such control, and (by ...