Economics Roundtable

Database Maintenance 7/4/15

Routine database maintenance will induce some duplicated items for the next day or two.

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 .

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.


The Economics Roundtable is sponsored by EconModel.

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Newmark’s Door (Craig Newmark)

July 7, 2015, 7:33 am, 1504766

Truly funny story about the report written in late 2000 that worried what we would do if federal surpluses made government debt disappear.

The report is called "Life After Debt". It was written in the year 2000, when the U.S. was running a budget surplus, taking in ...

July 7, 2015, 7:33 am, 1504771

I'll admit that I'd never heard of this, but if the claims are correct, it sure sounds like something Republicans should advocate nationally.

July 7, 2015, 7:33 am, 1504769

Stephen L. Carter concludes with a very fine observation:

My students, for the most part, are a liberal bunch. That makes them, among other things, enthusiasts of the regulatory state. But if they increasingly mistrust the police, it’s hard to know who’s supposed to enforce all the ...

July 7, 2015, 7:33 am, 1504770

11-minute video by graduate students at UCLA. Made me laugh. (Especially the first scene.)

July 7, 2015, 7:33 am, 1504768

The U.S. educational system seems to particularly fond of this dopey advice. A case in point: "There's going to be a new SAT, and it will be easier than ever". This change is awesomely crazy:

1. No Obscure Vocabulary

The new version of the SAT will ...

July 7, 2015, 7:33 am, 1504767

While I haven't read their new book yet, my experience doing and teaching empirical research strongly supports the views ofJosh Angrist and Jörn-Steffen Pischke:

Econometrics courses promise to equip our students with the powerful tools economists use to understand the economic relationships hidden in data. It’s both ...

July 6, 2015, 7:33 am, 1504115

And which party, pray tell, do you think the governor belongs to?

July 6, 2015, 7:33 am, 1504114

By Representative Devin Nunes. Stomach-churning to read but important.

Please tell me once more the fairy tale about how "Government is the name we give to things we do together." (Jonah Goldberg has it exactly right: "The whole point of a free society is to reduce the ...

July 6, 2015, 7:33 am, 1504112

That's University of Alabama-Birmingham researcher Edward Archer referring to U.S. Government sponsored research on nutrition.

Exercise for the reader: how much other government-sponsored research could be described precisely the same way?

July 6, 2015, 7:33 am, 1504113

Nice, balanced discussion by AEI's James Pethakoukis. (Link via Marginal Revolution.)