Graphs

Word Frequency in FOMC Statements

The font size of each word is proportional to the frequency with which a word is used in the statement. Why is the word "will" used so frquently, starting in 2008?

Crude Oil Tanker Movements

The figure shows the movements of crude oil tankers, 2/18/2001 to 8/18/2001. The axis are longitude and lattitude.

World export-output ratio

World trade tends to fall faster than output during recessions; see for example, 2001/02. The IMF is predicting a severe contraction in trade for 2009.

China-U.S. Extensive Margin

In 1996, 684 STIC codes made up China's "least traded" 10% of trade to the United States. By 2006 those codes accounted for 20% of China's exports to the United States. Why does the mix of goods traded change so much? From: How Important is the New Goods Margin in International Trade?

Sudden Stops and TFP

Sharp reversals of foreign capital flows (Sudden Stops) are often accompanied by sharp drops in GDP. Basic growth accounting shows that the collapse in GDP is almost entirely accounted for by measured TFP. What is being captured by the Solow Residual? From: Sudden Stops, Sectoral Reallocations, and the Real Exchange Rate.

Stimulus

A reminder of the Great Depression: Roberts Hall Dormitory, at the University of Texas at Austin. If economic depressions interest you, have a look at this volume from the Minneapolis Federal Reserve.