Economics Roundtable

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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July 24, 2017, 4:04 am, 1765229

July 24, 2017, 2:04 am, 1765214

By 8 p.m., the party was in full swing when the couple took to the stage, the front of a sign pressed up against Ms. Pienkowski’s chest. The crowd quieted…The D.J. took a musical pause.

“You’ve been so patient about the date of our wedding,” she said. “We ...


July 24, 2017, 1:33 am, 1765213

AEI
A millennial explains how post-modern liberalism and failed parenting led to the snowflake-ification of a generation

Writing a few weeks ago in the Detroit News, Hillsdale College student and Detroit News intern Kaylee McGhee offers an explanation for “Why Millennials Melt”:

Millennials are in a constant contest ...


July 24, 2017, 1:33 am, 1765212

AEI
Who’d a-thunk it? There are inherent differences in how men’s and women’s brains are wired and how they work?

In Stanford Medicine’s spring issue “Sex, Gender and Medicine,” there’s a fascinating article titled “Two minds: The cognitive differences between men and women,” here’s a slice:

[In ...


July 24, 2017, 12:34 am, 1765204
By: Jonathan Newman

In a recent Bloomberg article, Noah Smith celebrates the increasing trend of empirical work in economics over the years. Purely theoretical papers are on the decline as a share of all published work. More and more economists are ...


July 24, 2017, 12:34 am, 1765203
By: Konrad Graf

Many libertarians seem to love to hate Elon Musk these days. His crime is to live off the public purse. His companies would be bankrupt without green subsidies and cheap government loans and contracts. He seeks out favorable terms ...


July 24, 2017, 12:04 am, 1765202
In my last post, I linked to a post by Peter Moskos noting that: People, all people, are 1.6 times more likely, per capita, to be shot and killed by police in states that are less than 10 percent black compared to states more than 10 percent African American. Blacks ...


July 23, 2017, 11:03 pm, 1765194
Weekend:
Schedule for Week of July 23, 2017

Monday:
• At 10:00 AM ET, Existing Home Sales for June from the National Association of Realtors (NAR). The consensus is for 5.58 million SAAR,down from 5.62 million in May. Housing economist Tom Lawler expects the ...


July 23, 2017, 10:34 pm, 1765193

By Maurice Obstfeld

July 24, 2017

A building in Tokyo, Japan. The global recovery is on a firmer footing, with growth revised up for Japan, the euro area, China, and for emerging and developing economies more ...


July 23, 2017, 9:33 pm, 1765188

July 23, 2017, 8:04 pm, 1765184
(July 23, 2017 08:11 PM, by David Henderson) Wall Street Journal editorial writer Joe Rago died this week at the age of 34. If you read the Review and Outlook editorials--the unsigned editorials that are published on the left hand side of the editorial page and reflect the... (0 COMMENTS)


July 23, 2017, 6:34 pm, 1765181
By: Thomas E. Woods, Jr.

Watch the opening lecture of Mises University 2017LIVE!Includes a welcome by Jeff Deist and faculty introductions by Joseph T. Salerno.

MisesInsitutemembers canattend VirtualMisesUniversityfor ...


July 23, 2017, 6:04 pm, 1765179
(Don Boudreaux)

On page 290 of Democracy in Chains, Nancy MacLean writes that ...


July 23, 2017, 3:33 pm, 1765172
Politico's piece is interesting. If Larry Summers and Glenn Hubbard were members of Congress, would we have "better" tax policy? If climate scientists ran the Energy Independence and Climate Change Sub-Committee, would "better" policies emerge? For example, would we be more likely to have a carbon tax ...


July 23, 2017, 3:33 pm, 1765171

AEI
Kevin Williamson on why ‘Buy American’ has little meaning in today’s world of globalized supply chains

Some excerpts from the always excellent and insightful Kevin Williamson, writing in National Review — “‘Made in America.’ So What?“:

One of the great enduring stupidities of modern economic life ...


July 23, 2017, 2:04 pm, 1765166

Here is the government’s own answer:

No.  The President’s clemency power is conferred by Article II, Section 2, Clause 1 of the Constitution of the United States, which provides:  “The President . . . shall have Power to grant Reprieves and Pardons for Offenses against the ...


July 23, 2017, 2:04 pm, 1765165
(Don Boudreaux)

On page 290 of Democracy in Chains, Nancy MacLean writes the following:

[Tyler] Cowen’s first ...


July 23, 2017, 1:03 pm, 1765156
From HotelNewsNow.com: STR: US hotel results for week ending 15 July

The U.S. hotel industry reported mostly positive year-over-year results in the three key performance metrics during the week of 9-15 July 2017, according to data from STR.

In comparison with the week of 10-16 July 2016, the ...


July 23, 2017, 12:04 pm, 1765155
(Don Boudreaux)

David Hart just reminded me that, soon after Jim Buchanan died in January ...


July 23, 2017, 11:33 am, 1765153
While the Sports Section doesn't have any new NBA news, the NY Times has published two really interesting pieces related to major themes in urban economics. One focuses on the garbage problem in the NYC subway and the other examines the challenge of high property tax payments (as ...


July 23, 2017, 10:45 am, 1765142
A


July 23, 2017, 10:04 am, 1765141
(Don Boudreaux)

Among the most-recent of the late Jim Buchanan’s writings are his essays on what he called ...


July 23, 2017, 8:04 am, 1765122
(Don Boudreaux)

… is from pages 34-35 of Christopher Snowdon’s excellent 2015 monograph, Selfishness, Greed ...


July 23, 2017, 8:04 am, 1765121
Dan here…Lifted from Robert’s Stochastic Thoughts: Game Of Thrones Guesses 1. I guess from the TV series it is official that John Snow is the son of Lyanna Start and Rhaegar Targaryan 2. I’m a fairly sure that Lyanna Stark is also the night of the laughing tree (and that’s ...


July 23, 2017, 8:04 am, 1765120
Could The US Default Due To A Complexity Catastrophe? Definitely. Front  page story in today’s Washington Post by Damien Paletta reports that “Treasury chief hurtles toward fiasco,” the fiasco being a failure to raise the US debt ceiling in time to avoid a default.  Trump has declared that Sec Mnuchin ...


July 23, 2017, 7:34 am, 1765119

5 of the 7 might be helpful to know.


July 23, 2017, 6:04 am, 1765105

July 23, 2017, 5:34 am, 1765103

Yo, Shake Shack! We fixed that HB2 problem you were so concerned about. Why don't you bring that fine-sounding sandwich to North Carolina?


July 23, 2017, 4:04 am, 1765082
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. After a week in which we have been offered a joyous glimpse into what some of the BBC’s highest paid on-air presenters and stars earn –...


July 23, 2017, 2:04 am, 1765077

I would like to see building deregulators pay more attention to this aspect of the problem:

The next step would be transferring ownership of these assets to what Detter and Fölster call an “urban wealth fund”. Ideally, all publicly owned assets in a given city would be placed in the ...