ERA Blog

Federal Treasury finances: a functional perspective

17 January, 2017

Modern monetary theory (MMT) offers an analysis of the flow of money within our economy, and in undertaking this task it proceeds from some basic assumptions, including the propositions that… continue reading »


Paying for public services, in a monetary sovereign state

5 December, 2016

If our national Government was to spend more than the currently budgeted amount on your health care system next year, it would be good to know how they would finance… continue reading »


Try fiscal policy, stupid!

21 September, 2016

The Bank of England is actually finding it difficult to persuade investors to sell it sufficient government bonds to facilitate its planned bank reserve for government bond swap (sometimes called… continue reading »