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


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


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


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.


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


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.