May 2014 Payroll Employment
After 76 months, we finally got back to the prerecession level of payroll employment.
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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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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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Economics in the News
"Geoff Riley (Head of Economics at Eton College) provides a regular commentary on economics issues and trends - essential daily reading for all economics students and teachers.”
July 20, 2014, 11:23 am, 1303697
This interview with Jurgen Maier of Siemens is well worth reading on several different levels. It challenges the conventional wisdom that UK will always lag behind Germany in terms of high value added manufacturing; it refers to the economics risks of Brexit (Britain leaving the EU) and it also stresses the ...
July 20, 2014, 11:23 am, 1303698
Shareholder activism regarding executive pay is covered in this article from the Guardian. Note too the emergence of TNT Post as a competitor in the cities for final mile delivery of business and household mail - the mail market is becoming more contestable.The Royal Mail's latest market report is an interesting ...
July 18, 2014, 7:23 am, 1302969
Todayâ€™s announcement that the Competition and Markets Authority (CMA) are recommending that the High Street Banksâ€™ provision of current accounts should be investigated for lack of competition may not surprise many. The case study may be valuable when looking at competition in oligopolistic markets and a report can be found from this ...
July 18, 2014, 5:23 am, 1302935
The UK Financial Conduct Authority has announced direct interventions in the market for payday loans - the high cost short term loans market which has expanded rapidly in recent years led by businesses such as Wonga. The decision is the result of a detailed assessment of the industry which had flagged up ...
July 17, 2014, 3:23 am, 1302234
Here is a short video featuring Mike Kitson from Cambridge University explaining the role universities play in knowledge exchange with businesses
July 15, 2014, 1:23 pm, 1301310
For students and teachers interested in behavioural insights this short video from the behavioural insights team in New South Wales provides a good introduction to some of the behavioural nudges employed to influence choices. Behavioural insights draws on research into behavioural economics and psychology to influence choices in decision-making. By focusing ...
July 15, 2014, 11:23 am, 1301230
According to The Economist, the great commodity boom caused by the industrialisation of China and India provided an unprecedented boost to the terms of trade (the ratio of the price of its exports to that of its imports). Yet now the commodities boom may be running out of steam, these countries ...
July 15, 2014, 9:23 am, 1301147
The Philippines has enjoyed a period of rapid economic growth in recent years and attracted increasing attention as one of the fast-growing economies of South East Asia. Can this growth be sustained? What are the risks, challenges and the constraints facing the country? And how can the benefits of growth contribution to a ...
July 15, 2014, 7:23 am, 1301072
According to some sources, Dropbox was the 37th online storage solution to be developed for the web - but despite early failures and late entry it has emerged as the cloud storage product of choice for over 300 million people. The firm is now estimated to be worth about ÂŁ5.9bn.This BBC ...
July 15, 2014, 7:23 am, 1301071
Introducing tutor2u's hugely popular intensive one-day exam coaching & revision workshops. Over 20,000 students attend these highly effective exam preparations days every year. In 2014/15 our programme of workshops is extended to include A Level Psychology in addition to Economics and Business Studies.