Category Archives: Economics

The catch-all category for my blogs reflecting my professional expertise as a full professor of economics.

RBA spills the beans on Australia’s failed fiscal strategy

The Governor and other senior officials of the Reserve Bank of Australia (RBA) appeared before the House of Representatives Standing Committee on Economics yesterday (August 20, 2014), as part of the review by the Government of the 2013 RBA Annual … Read the rest of this entry »

Posted in Economics | 5 Comments

Real wages falling and Treasury continues to deceive

There is growing pressure on Australia’s wage setting tribunals to scrap penalty and overtime rates, allegedly because they damage employment and firms are just busting to put more workers on as long as wages drop. I have had a long … Read the rest of this entry »

Posted in Economics, Fiscal Statements, Labour costs | 10 Comments

Fiscal policy saved the world

There was an article in the Melbourne Age this morning (August 12, 2014) – As jobless numbers climb, RBA is perilously close to a rare mistake – that is running a theme that is increasingly being played out by the … Read the rest of this entry »

Posted in Economics | 3 Comments

MMT is not conservative thought

Last night I sent the final manuscript of my Euro book to the publisher and felt somewhat downcast – that always happens after an intensive piece of work is finished. But this morning, I woke up free of that and … Read the rest of this entry »

Posted in Economics | 45 Comments

Intergenerational fairness improved by fiscal deficits

There was an interesting article in the UK Guardian today (August 6, 2014) – Debt and housing costs make young worse off than past generations – which reported on the so-called ‘intergenerational fairness index’ published by the – Intergenerational Foundation, … Read the rest of this entry »

Posted in Economics, UK Economy | 15 Comments

When the left became lost – Part 1

I read a book a long time ago (1994) called “The Principle of Duty: An Essay on the Foundations of Civic Order”. I note it was republished in 2009. The book by David Selbourne – who is a British philosopher … Read the rest of this entry »

Posted in Economics, Politics | 38 Comments

Macroeconomic textbooks ripe for composting

I have been travelling a lot today – train, car, plane, car – and in between speaking and other commitments so not much time to type some thoughts. Also a detective novel I am reading was quite interesting on the … Read the rest of this entry »

Posted in Economics, Teaching models | 16 Comments

IMF wrong on QE

Yesterday the IMF released new analysis of Quantitative Easing, specifically in relation to the Euro Area – Euro Area – Q&A on QE. This is in the context of the ECB beginning to discuss the possibility of introducing a large … Read the rest of this entry »

Posted in Economics, Eurozone, IMF | 10 Comments

Financial elites win with growth and austerity

I was thinking over the weekend about the concept of post nationalism in relation to the evolution of the Economic and Monetary Union (EMU) in Europe. As I complete my current book project on the euro-zone it is clear that … Read the rest of this entry »

Posted in Economics, Eurozone | 15 Comments

Fact checking the fact checkers is required in macroeconomic matters

There is a lot of misinformation spread in the media about the fiscal history of Australia and elsewhere. The Australian Broadcasting Commission, for example, has now a “Fact Check” facility where it checks statements made by politicians against the facts. … Read the rest of this entry »

Posted in Economics | 5 Comments