Bill Mitchell | Billy blog

Macroeconomic research, teaching and advocacy
  1. When mainstream economists arrive at ideas 50 or so years late and pretend to be contributing to knowledge
    I regularly encounter mainstream economists who are confounded by the dissonance that the body of theory they have been working in introduces and...
  2. Inflation drops sharply in Australia but it is not the work of the RBA
    Today (March 29, 2023), the Australian Bureau of Statistics (ABS) released the latest ‘monthly’ CPI data – Monthly Consumer Price...
  3. The inflationary episode is being driven by profit gouging and interest rate hikes won’t help much
    I have read an interesting reports in the last months that demonstrate there is a shift in thinking about inflation – away from the tired...
  4. Latest Productivity Commission report – relies on and exploits our ignorance – to undermine our well-being
    I had a sense of déjà vu this week when I read the latest release from Australia’s Productivity Commission – Advancing Prosperity...
  5. Former Bank of Japan governor challenges the current monetary policy consensus
    In the latest IMF Finance and Development journal (March 2023), there is an interesting article by the former governor of the Bank of Japan, Masaaki...
  6. The way private banks in Australia screw their communities
    Today, I am over committed and have to travel some, and, luckily, we have a guest blogger in the guise of Professor Scott Baum from Griffith...
  7. Australian labour market bounces back after two months of gloom – the RBA will not be pleased
    The Australian Bureau of Statistics (ABS) released of the latest labour force data today (March 16, 2023) – Labour Force, Australia –...
  8. US inflation falling fast as Europe prepares to go back into a deliberate austerity-led crises
    The transitory view of the current inflation episode is getting more support from the evidence. Yesterday’s US inflation data from the Bureau...
  9. US labour market slows a bit but no sign of a major contraction yet
    Last Friday (March 10, 2023), the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary...
  10. The current inflationary period is not remotely like the 1970s
    In the light of recent debates about whether we are back in the 1970s, where the only ostensible similarity is that inflation has accelerated over...