Youth unemployment in America by sex and education

The role of new taxes in the Great Recession

 .
Advertisement

Real GDP per Japanese and American aged 15-64, 2013 price level, updated 2005 EKS PPP, detrended, 1970-2013

image

Source: Computed from OECD StatExtract and The Conference Board, Total Database, January 2014, http://www.conference-board.org/economics.

Note: When the line is flat, the economy is growing at its trend growth rate. A falling line means below trend growth; a rising line means of above trend growth. Detrended with values used by Edward Prescott.

The Japanese decline after 1992 are the Lost Decades. Japan recently returned to its 3.2% trend growth rate of the 1970s and 1980s for working age Japanese.

It could be argued that Japan is now on a permanently lower growth rate that implies no further catch up with the USA.

Employment losses after recent financial crises

Recent New Zealand economic growth

Has the USA moved to lower trend GDP growth path?

image

HT: Jagadeesh Gokhale

The Great Recession was driven by a collapse in hiring

Image

Interview with Robert Lucas on the global financial crisis and the great recession

Robert Lucas on Depression era policies and current financial crisis

Explicit and implicit marginal tax rate increases in the past seventy years in the USA

CaseyMulligan

HT: After New Keynesian Macroeconomics

Economic policy uncertainty in the USA

image

Source: Nicholas Bloom (2014)  – all data at www.policyuncertainty.com. Data normalized to 100 prior to 2010.

US corporate earnings vs. European corporate earnings

Euroland and Japan compared since 2008

https://twitter.com/Birdyword/status/533264502142545920

Some graphs on the great deviation on both sides of the Atlantic

Figure 1: Actual and potential GDP in the US

Sources: Congressional Budget Office, Bureau of Economic Analysis

Figure 2: Actual and potential GDP in the Eurozone

Sources: IMF World Economic Outlook Databases, Bloomberg

HT: Larry Summers

David Friedman on the causes of the global financial crisis and the great recession

Image

Previous Older Entries

Barrie Saunders

Thoughts on public policy and the media

Liberty Scott

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Vincent Geloso

Econ Prof at George Mason University, Economic Historian, Québécois

Point of Order

Politics and the economy

James Bowden's Blog

A blog (primarily) on Canadian and Commonwealth political history and institutions

Why Evolution Is True

Why Evolution is True is a blog written by Jerry Coyne, centered on evolution and biology but also dealing with diverse topics like politics, culture, and cats.

Great Books Guy

Reading The Classics

Science Matters

Reading between the lines, and underneath the hype.

Peter Winsley

Economics, and such stuff as dreams are made on

A Venerable Puzzle

"The British constitution has always been puzzling, and always will be." --Queen Elizabeth II

Real Time with Bill Maher Blog

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

No Minister

Laughing at Our Elites

The Antiplanner

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Bet On It

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Movie Nation

Roger Moore's film criticism, against the grain since 1984.

Anti-Dismal

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Bowalley Road

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

History of Sorts

WORLD WAR II, EIGHTIES, MUSIC, HISTORY, HOLOCAUST

Tudor Chronicles

News, reviews and talk all about the Tudors

Offsetting Behaviour

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

JONATHAN TURLEY

Res ipsa loquitur - The thing itself speaks

Conversable Economist

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

The Victorian Commons

Researching the House of Commons, 1832-1868

Coyote Blog

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

The History of Parliament

Blogging on parliament, politics and people, from the History of Parliament

Books & Boots

Reflections on books and art

Legal History Miscellany

Posts on the History of Law, Crime, and Justice

Sex, Drugs and Economics

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Doc's Books

A window into Doc Freiberger's library

Media Myth Alert

Calling out media myths

European Royal History

The History of the Emperors, Kings & Queens of Europe

Tallbloke's Talkshop

Cutting edge science you can dice with

Marginal REVOLUTION

Small Steps Toward A Much Better World

NOT A LOT OF PEOPLE KNOW THAT

“We do not believe any group of men adequate enough or wise enough to operate without scrutiny or without criticism. We know that the only way to avoid error is to detect it, that the only way to detect it is to be free to inquire. We know that in secrecy error undetected will flourish and subvert”. - J Robert Oppenheimer.

STOP THESE THINGS

The truth about the great wind power fraud - we're not here to debate the wind industry, we're here to destroy it.

Trust, yet verify

Searching for the missing pieces of climate change communication

Lindsay Mitchell

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Alt-M

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

croaking cassandra

Economics, public policy, monetary policy, financial regulation, with a New Zealand perspective

The Grumpy Economist

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

International Liberty

Restraining Government in America and Around the World

%d bloggers like this: