The Econ Review

Economics News with a Historical Perspective

August 21, 2014

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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Opinions

U

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.

Features

Bank Failures Causes Depression

Bank Failures Cause the Great Depression

The monetarists' explanation for the Great Depression focuses on changes in the money supply.  In this case, the changes were not the result of a deliberate policy experiment, but were instead the outcome of a lack of Federal intervention in the banking sector at a time when conditions for banks were quite perilous.

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Stock Market Crash Causes Depression

Stock Market Crash Causes Depression

October 29, 1929.  Panic in the stock market by itself has little effect on the overall economy.  The potential effect on physical investment in plant and equipment is, however, enormous.

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Stock Market Forecast 2006

Stock Market Forecast 2006

Between November 1987 and January 1995, the Dow Jones Industrial Average increased at an annual rate of 10.9%.  After the recent decline, the DJIA grew at an annual rate of 10.1% between January 1995 and May 2003.  Is 10.9% a reasonable estimate of long run growth absent speculative bubbles?

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Models

The Mundell-Fleming Model

The Classical Model

The Classical Model of Production and Employment focuses on the supply and demand for a single factor of production, labor, assuming that capital is fixed in the short run.  Equilibrium in the labor market then determines the real wage rate and the level of output.  This model provides an important reference point for understanding the innovations in the Keynesian models.

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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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