# 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**

The Economics Roundtable is sponsored by **EconModel.**

The **Classic Economic Models** cover micro, macro, and financial markets.

## Mahalanobis

"Personal Weblog of Michael Stastny”

The team developed a gauge that identifies ...

Sir, The Lex column Mandelbrots inconvenient truth, following the death of Benoit Mandelbrot, unfortunately concentrated on one of the areas where this outstanding mathematician was somewhat misguided. While the FT letters page ...

Theory has, at length, become so "scientific" and abstract as to intrigue the mathematicians who have taken delight in developing the concept of a kaleidoscopic and frictionless play of atomistic units in a complex and eternally unfolding equilibrium. The notion of equilibrium suggested equations; equations are prolific parents of their ...

The advice is ...

As the population ages, the demand for financial products will change. Broadly speaking, older consumers are wealthier than younger ones. They have greater balances in savings and investment accounts and are much more likely to live in an un-mortgaged home. As they reach retirement, their demand for accumulation ...

Read: Citi sees free lunch in Greek basis (almost), FT Alphaville