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Guillermo Roditi Dominguez
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157 followers
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A short guide to measures of employment, wages and income
Over the last few years I’ve spent a lot of time discussing
employment with various other market participants, commentators, reporters and
other assorted interested observers and, in my experience, one of the biggest
obstacles to productive exchange is an i...

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Labor: To the Moon!
A year ago I wrote about the coming sectoral re-balancing, with a focus on the imminent increase in the share of labor income at the expense of corporate profits due to an increase in labor bargaining power, declining labor slack, recovering aggregate deman...

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Personal Savings Rate and the Balance of Payments
Personal Savings Rate & Current Account Balance. Source: FRED One of the most common--and yawn-worthy--criticisms of my December post outlining why the rise of labor bargaining power was going to be very negative for corporate profits (my estimated CAGR for...

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Even more evidence of shifts in labor markets
The following charts are part of December 13's Bloomberg Economics Brief. The top chart is Bloomberg's Economic Surprise Index. As you can probably  notice, the labor market has been surprising significantly to the upside lately. On the bottom, is changes i...

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More on labor bargaining power
Last week I wrote about how a number highly reliable indicators are indicating the bargaining power of labor is increasing and that it will lead to tighter labor markets and wage inflation. On Nov 26, The New York Times reported that NYU will once again rec...

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Profit margins, tax receipts and labor demand curves
Much has been made of the record levels of corporate tax profits over the last two years. From GMO's warnings of an 1100 "fair price" for S&P 500, to Hussman's forecast of 10y of negative nominal returns, to the economics "It" girl of the moment, the Kaleck...

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Social Advertising Economics
YoY ad pricing from Yahoo!'s 3Q2013 presentation Like Facebook before them, new "social" web properties eventually have to monetize to and generate revenue. As properties seek to monetize their user base through the use of display or per-click ads, the amou...

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How Much is $1 of Earnings Worth?
Investors often treat reported earnings as the "yield" of equities due to the wide availability of reported earnings and the ubiquitous Price-to-Earnings ratio, however this can be a misleading measure of the actual economic value created for shareholders i...

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