RBA Rate Decisions More Powerful in Smaller Doses (AFR Piece)

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The Australian Financial Review ran an opinion piece of mine (with my colleague, Jan Libich) that appeared in this morning’s edition (Tuesday 7 April), titled: “RBA Medicine Should be Dispensed in Smaller Doses” on p.43 (some of you will find the link to be gated)…or e-mail me a request if you cannot access it any other way.

It discusses an idea of ours to improve the impact of central bank interest-rate setting in Australia, which is to reduce the increment of change to the cash target rate (the main monetary policy instrument), from 25 to 10 basis points. Such a change would incur a relatively small adjustment cost, while providing a good return on extra ‘signalling power’. Read the piece to get more detail.

New Edition of our Finance Textbook

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The new (3rd) edition of my textbook Financial Markets, Institutions and Money (with David Kidwell, Mark Brimble, Paul Docherty, Paul Mazzola and Anup Basu), published by John Wiley & Sons Australia, is now available at all good academic bookstores.

While I no longer teach finance (hence don’t get an opportunity to use it), it was a pleasure contributing to a pedagogic project that I really believe in, and working with an assortment of like-minded economics/finance academics.

 

“Premiership Portfolio” by Sam Fimis

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I went to an excellent book launch last night. The author is a former undergraduate student of mine from La Trobe, one Sam Fimis (below). I taught him in a finance subject, and it’s wonderful to see him combining that love of his (it’s also his day job: he’s in stockbroking!) with sports.

Fimis

The book is called Premiership Portfolio, and is pitched at sports fans who want to learn a bit more about the markets to help them manage their personal finances, via analogies from the AFL. Genius, Sam!

The launch itself was well-attended, with speakers including Andrew Swallow, Anthony Koutoufidis, and Raydon Tallis. The book has also been identified by the AFL Player’s Association as a possible vehicle for future player education programmes to help safeguard against their savings being frittered away post-retirement.

Release of my First-Ever Textbook

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I am very excited about the release of my first textbook, called: Financial Markets, Institutions & Money . It is the 2nd edition of an Australian adaptation of the existing US text by lead author David Kidwell (Minnesota); and co-authored with, Mark Brimble (Griffith), Anup Basu (QUT) and Dianne Thomson (Deakin). It is published by John Wiley & Sons Australia, and now available!

The experience was great – I always enjoy exploring academic activities for the first time, and I will probably jump at the chance for another edition (or a different text). I will be using this in my Financial Instruments subject at La Trobe, and look forward to applying some of my original contributed material from the text in the subject design.