Economics Roundtable

NOTICE 4/30/18

The Economics Roundtable is back. The technical problem that has limited the set of blogs has been resolved. The RSS feed is, however, still not working.

Flushing caches will likely cause some old posts to show up for a day or two.


Employment as a Percentage of Population

The graph below shows employment as a fraction of population for people over 16 years old.


Click on the image to get a bigger version.


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.

Click on the image to get a bigger version.


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.


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.


RSS Feed

Money and Banking


September 17, 2018, 7:44 am, 1899914

"GDP figures are 'man-made' and therefore unreliable," reported remarks of Li Keqiang (then Communist Party secretary of the northeastern Chinese province of Liaoning), March 12, 2007.

Satellites are great. It is hard to imagine living without them. GPS navigation is just the tip of the iceberg. Taking advantage of ...


September 10, 2018, 9:24 am, 1897984

“[T]he Fed might accommodate a sudden spike in [demand for safe assets] by selling some of its T-bill holdings and using the proceeds to buy longer-term Treasuries.” Greenwood, Hanson and Stein, The Journal of Finance, August 2015.

“[T]he Committee would be prepared to use its full range of tools, ...


September 10, 2018, 9:24 am, 1897983

“[T]he Fed might accommodate a sudden spike in [demand for safe assets] by selling some of its T-bill holdings and using the proceeds to buy longer-term Treasuries.” Greenwood, Hanson and Stein, The Journal of Finance, August 2015.

“[T]he Committee would be prepared to use its full range of tools, ...


September 3, 2018, 8:35 am, 1895941

“The only way we could have saved Lehman would have been by breaking the law.” Ben S. Bernanke, Testimony to the Financial Crisis Inquiry Commission, September 2, 2010 (cited by Reuters).

“Lehman actually did have ample collateral for a loan that would have averted its sudden bankruptcy.” Laurence Ball, ...


August 27, 2018, 8:35 am, 1893875

Guest post by Richard Berner, Executive-in-Residence (Center for Global Economy and Business) and Adjunct Professor, NYU Stern School of Business

America faces two interrelated long-term challenges: rising longevity and inadequate retirement saving. The combination of declining private, defined-benefit pension plans and concerns about the viability of federal entitlements has ...


August 20, 2018, 8:35 am, 1891623

In the aftermath of the Great Financial Crisis, debt has taken center stage. When borrowing is either high or growing quickly, people see it as a danger sign. When individuals, firms or governments are heavily indebted, they have less flexibility in responding to unfortunate events. And, when borrowers default, lenders ...


August 6, 2018, 7:44 am, 1885411

“Well, it's staying at zero because she's [former Fed Chair Janet Yellen] obviously political and doing what Obama wants her to do. […] I used to hope the Fed was independent. And the Fed is obviously not independent. It’s obviously not even close to being independent."
Candidate Donald Trump,


July 30, 2018, 8:36 am, 1881725

Following Friday’s announcement that real gross domestic product (GDP) grew by 4.1 percent (at a seasonally adjusted annual rate) in the most recent quarter, the business news was filled with stories about how big the number was.

Even the most casual reader of financial and economic news knows that the speed ...


July 23, 2018, 7:44 am, 1878461

We submitted this statement to the Subcommittee on Financial Institutions and Consumer Credit of the Committee on Financial Services of the U.S. House of Representatives for its hearing on July 17, 2018.

We appreciate the opportunity to submit the following statement on the occasion of the hearing entitled “Examining ...


July 16, 2018, 9:04 am, 1876254

“[W]e should see the global payment system for what it really is: an essential global public good whose integrity is increasingly being challenged by malicious cyberattacks and fraud attempts....” Benoît Cœuré, Member of the Executive Board of the ECB, Speech, 26 June 2018

“I rob banks because ...