The Econ Review

Economics News with a Historical Perspective

December 10, 2016

The Econ Review features a historical perspective on economics news and opinions with daily updates.  All original material is copyrighted.  Off-site references open in new windows.

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U.S. Budget Deficit

Discussion of the latest CBO budget projections can be found at the Economics Roundtable.


In the News

Payroll Employment

Recent History   Long-Term Chart

U.S. Budget Deficit
Bar Graph
CBO Budget Projections
Historical Data

Inflation & Unemployment
The Phillips Curve

John Cochrane uses very similar Phillips Curve charts to review recent history and current issues.

The Chart Room
Charts for GDP and payroll employment show the historical patterns in this relationship.  Custom select side-by-side charts for these variables and interest rates and yield curves.

Euro Roller Coaster
The wild ride continues.

Economics Roundtable
The latest news and views.


Continental-Illinois Bank "Too Big To Fail"

May 17, 1984.  Continental Illinois National Bank and Trust Company is the largest bank failure in the history of the Federal Deposit Insurance Corporation.  Resolving this crisis pushed to the forefront the "too big to fail" principle that argues in favor of government intervention to avert instability in financial institutions large enough that, were they to fail, the integrity of the financial markets could be in doubt.


Volker Causes Recession

Volker Hits Brakes;  Recession Follows

1982  In a widely announced policy move, Paul Volker and the Fed slowed the rate of growth of the money supply to curtail the recent inflationary spiral.  Although some mathematical proofs exist that anticipated monetary policies have no real effects, the U.S. unemployment rate increased from 7.5% in 1981 to over 9.5% in 1982.


Reagan Tax Cut

Reagan Tax Cut

August 15, 1981.  President Reagan signed into law the Economic Recovery Tax Act, also known as the Kemp-Roth bill after its two principal sponsors, U.S. Representative Jack Kemp and Senator Bill Roth.  The Reagan tax cut reduced marginal rates by about 23% over three years and instituted adjustments for inflation in the bracket limits.  The latter eliminates "bracket creep" where individuals find themselves in higher tax brackets as incomes increase simply due to inflation even if real incomes do not change.



Macro Models

Macro Models

The macroeconomic models in the Classic Economic Models collection trace the historical evolution from the Classical Model of Production and Employment through the Keynesian and Mundell-Fleming Models and including some items from the new classical and new Keynesian schools of thought.


Additional models of interest are available at Classic Economic Models.

Econ Clubs

Check the directory of economics clubs to see if your club is listed. Links are free.

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