ERA Blog

Reserve Bank decision time: good luck Australia!

12 June, 2017

On the first Tuesday of every month (except January, when they are all off on their holidays) the governor of the Reserve Bank of Australia (RBA) meets with the deputy governor, the Treasury secretary and six… continue reading »

Creation and destruction of bank credit money

18 March, 2017

It is well known and understood that the nation’s money supply overwhelmingly consists of deposits within bank accounts of an intangible entity known as bank credit money. This form of… continue reading »

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 »