Economics News with a Historical Perspective
July 3, 2009
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.S. Payroll Employment
Commentary on the latest U.S. payroll employment figures can be found at the Economics Roundtable.
In the News
Inflation &
Unemployment
The Phillips Curve
NEW FORMAT now covers
six countries plus the U.S.
Payroll Employment
A loss of 467,000 in payroll employment means there is no major slowdown in the rate of decline for now. Recent History Long-Term Chart.
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
Other data pages include Unemployment Rate, Federal Budget Deficit, Real Interest Rates and Inflation, and Fed Funds Rate.
Economics Roundtable
Features
Japanese Stock Market Crash 1989
In May 1989 the Bank of Japan began to raise its discount rate from 2.5% to counter a perceived threat of inflation. The original rate had helped propel the Nikkei 225 index from 11,500 as recently as 1984 to about 38,900 by 1989. The discount rate stood at 6.0% by the end of 1990, and the Nikkei index fell below 9,000 by 2002, shedding over 75% of its peak value.
Stock Market Crash 1987
October 19, 1987. The stock market crashed as the Dow Jones average fell a greater one-day percentage than on Black Tuesday in 1929. In one day, the Dow Jones average lost 22.6% and the S & P 500 lost 20.5%, wiping out $1 trillion in market value in a single day.
Alan Greenspan
August 11, 1987. President Reagan appointed Alan Greenspan to his first term as Chairman of the Federal Reserve. His fourth term as Chairman runs until June 20, 2004, and the rumor is circulating that he would accept a fifth nomination. (PS: Ben Bernanke was sworn in as Chairman on 2/1/2006.)
Models
Micro Models
The Theory of the Firm and the Theory of the Consumer form the foundation for microeconomics. The Classic Economic Models collection includes the most important models from each, covering both the supply and demand for goods and the supply and demand for labor.
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.