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"Bank Subsidy Disclosures Lacking" (The Australian 29/3/21 as "Canberra's Cheap Loan Schemes lack visibility") March 29, 2021

"The Greensill Supply Chain Finance collapse: a cautionary tale for Buy-Now-Pay-Later Schemes and their Regulators?" March 25, 2021

"Hard Bump Ahead?: Drop in insolvencies and bankruptcies is a ticking time bomb" The Conversation, March 11, 2021

"The New Reality for Financial Services" pp 43-44 in 30 Voices on 2030: The New Reality for Financial Services KPMG  February 22, 2021

"How Responsible Lending should look" Interview for Informa January 21, 2021

"Ideology triumphs over evidence: Morrison government drops the ball on banking reform" The Conversation, January 20, 2021


Protecting Borrowers When Interest Costs Are Hidden (Pearls and Irritations, 9 December 2020)

Home Ownership and Super: A Battle of the Sacred Cows (The Australian Financial Review 26 November 2020 as "Advantage in borrowing super to get on the housing ladder")

Why I signed the "Save Fair Lending" Letter (The Guardian, 26 November 2020 as "Why is the federal government trying to abolish a valuable safeguard for consumers"

The ASIC Governance Blues 28 October 2020, (The Conversation, 29 October 2020, version)

Home Equity Access to Wealth  (video presentation to Third Pillar Forum - Retirement Insights, 12 October 2020)

Can Removal of Responsible Lending Obligations be justified October 1, 2020 (The Conversation, 13 October, 2020)

Preventing a Mortgage Default Flood (Australian Financial Review, August 24, 2020 titled "How to avoid a flood of foreclosures when loan holiday ends")

(with Christine Brown) Time to Kill Off Tax-Driven Off-Market Buybacks (July 10, 2020, AusTaxPolicy Blog)

"Punting with Financial Products" (June 20, 2020) (FirstLinks, edition 366)

"Protection of Employee Entitlements should include temporary visa holders" (June 30, 2020) (The Conversation, 17 July 2020)

Shareholder Class Actions Make No Sense (submission to Parliamentary Joint Committee June 18 2020, shorter version in AFR 16 June 2020)

“Bank dividends are bare. Here's why some shareholders hate it more than they should” (The Conversation, May 7, 2020)

Super Fund Borrowing - Policy Inconsistencies (April 23,2020) (The Conversation version here)

Does Deferral of Bank Dividends Matter (April 10, 2020) (appendix with some numbers) (AFR online version) (Australian Tax Policy Blog)

Super Fund Borrowing and Liquidity (April 2, 2020)

Superannuation Liquidity: Fallacies Galore (April 1, 2020) (The Australian as "RBA can give liquidity support to super funds" (April 6, 2020)

Super Cash Needs: Not so simple (A response to Andrew Braggarticle in The Age, 30 March 2020)

Are additional crisis measures needed for supply chain finance? (March 25, 2020) (Australian Financial Review as "Fortify credit arsenal to avert supply chain finance meltdown", Tuesday 31 March 2020)

Can Super Soften the Blow? March 19, 2020 (version on The Conversation)

How to Abolish Property Stamp Duties (Australian Financial Review as "How to get the States off the Stamp Duty Drug" February 18, 2020)

Submission to Retirement Incomes Review (February 2, 2020)

Fixing the Tax Super Retirement Mess (January 30, 2020, also part of submission to retirement incomes review) (version on The Conversation, reprinted in The Canberra Times February 10, 2020, p 18).


Our leaders ought to know better: failing to pass on the full rate cut needn't mean banks are profiteering (The Conversation, October 10, 2019)

Property Taxes and Stamp Duties (July 31, 2019)

APRA's Cultural Capital Levy (Australian Financial Review, July 16, 2019)

Will banks in the dock always work? (Australian Financial Review, 5 December 2018)

(with Rodney Maddock) How to cut the red tape hurting super savers (Bluenotes 24 Sept 2018)

Shareholder Class Actions Make No Sense (submission to Australian Law Reform Commission Inquiry, 20 July 2018)

Should Dividend Imputation make us rethink company tax cuts? (Australian Financial Review 13 July, 2018)

Banking royal commission: dodgy financial dealings expose greed and moral vacuum (Monash Lens) May 7, 2018

Bad Behaviour in Australia's Banking Sector (East Asia Forum, 14 April 2018)


Broad mandate for financial services royal commission takes the heat off banks (The Conversation, 1 December 2017)

Replacing stamp duties: Securitisation may hold the key (Australian Centre for Financial Studies, Financial Policy Brief 2017-10, 26 October 2017)

MySuper Dashboards: Not so Super! (ACFS Financial Policy Brief, 2017-09, August 28, 2017)

Banker remuneration and accountability (ACFS Financial Policy Brief, 2017-08, August 8, 2017)

A fine time for moving money (AFR 4 August as "Bank royal commission odds just shortened")

Bank Director Remuneration: Why No Downside Risk (ACFS Financial Policy Brief, 2017-07, June 2017)

A better bank tax (reported in The Australian, 9 June 2017), version on The Conversation

Reforming the Fair Entitlements Guarantee Scheme (submission to government consultation) ACFS Financial Policy Brief 2017-06 May 2017

Designing Capital Instruments for Mutual ADIs (submission to Hammond Review) ACFS Financial Policy Brief, 2017-05, May 2017

Rationalising the Big Bank Tax (AFR 15/5/17)

The Big Bank Tax, ACFS Financial Policy Brief 2017-03, May 2017

Bank disclosures could be better (ACFS Financial Policy Brief 2017-02) March 2017

Despite Superannuation Changes One Tax Loophole Remains (The Conversation, March 1, 2017)

Putting the Age Pension Assets Taper Test into Perspective (ACFS Financial Policy Brief 2017-01)


Why Tracker Loans are a win-win product, Australian Financial Review, October 19, 2016

Is a comfortable retirement out of reach of the average Australian (with Carsten Murawski and Roger Wilkins, Pursuit 23 August, 2016

Why Tracker Loans are a win-win product, Australian Financial Review, October 19, 2016

Why Australia does not need a Royal Commission into banking (The Conversation, April 12, 2016)

Untangling the debate on bracket creep, dividend imputation and negative gearing (The Conversation, February 12, 2016)

Three factors pushing Australian banks into a retreat home (The Conversation, February 2, 2016)


Why Levying GST on the Banks has been in the 'too hard' basket (The Conversation, December 2, 2015)

Tax Reform Aside, There's No Case to Kill Off Dividend Imputation The Conversation, 22 Oct 2015

Privatising Public Information: The Sale of the ASIC Business Registers, ACFS FRDP 2015-05, 4 September 2015

No Financial Claims Scheme Levy - A Good Decision - ACFS FRDP 2015-04, 1 September 2015 (also available at ANZ BlueNotes)

"Banks are raising capital, but should we be worried?" The Conversation, 11 August 2015

What you need to know about Peer to Peer Lending (The Conversation, 30 March)

Retirement incomes policy reform in Australia (Reform Symposium, London, 10-11 February, 2015)

FactCheck: is Australia’s corporate tax rate not competitive with the rest of the region? (The Conversation 10 February, 2015)

Basel 3++: Buttons, Belts and Braces (ACFS FRDP 2015-01) January 21 2015


Taxing Issues in the Infrastructure-Privatisation Incentive Deal (November 2013)

Islamic Finance and the Financial System Inquiry (October 2013)

Bank Profits Hit Headlines (August 2013)

Fees for Bank Guarantees (1 August 2013)

Rise of the super funds will shape financial sector, The Conversation 15 July 2013

Corporate Bond Market: Prospects for Growth (In Finance, June 2013 - with Deborah Ralston)

Dividend Washing (ACFS FRDP 2013-01, 7 June 2013) Also published on The Conversation

How does five billion dollars rate (6 February 2013)

Super funds: an investment vehicle for scientific research? (Op ed on The Conversation 25 February 2013)


Financial Crisis Management - Power and Accountability (InFinance, December 2012)

Corporate Tax Cuts (October 2012)

Yes Bonds are Risky Too (AFR August 2012)

Tail Wags Dog in Retail Government Bond Market Development, (September 2012)

Can a corporate bond market solve the super equity bias? (published as "Traps in new bond market" Australian Financial Review, 20 March 2012)

Slower Credit Growth: A Benefit for Bank Capital Positions (Australian Financial Review op-ed 21 February 2012 - retitled as "Benefits of Slower Credit Growth)

Why the Equity Bias (Australian Financial Review op-ed (retitled "Tax system drives us to equities") 7 Feb 2012)

Higher Bank Capital: What's Wrong with That? (Australian Financial Review op-ed (retitled "Social Dimension to Bank Capital Ratios"), 30 Jan 2012)

Finance Sector Employment on a Slippery Slope (Australian Financial Review op-ed 18 Jan 2012)


Should Banks Be Compelled to Pass on Interest Rate Cuts? (The Conversation, 6 Dec, 2011) 

The contagion effect: how much will Australian banks be buffeted by Europe? (The Conversation, 24 November 2011)

Living Wills (The Conversation, 7 October 2011) also on Business Spectator

Different Times - Less Fuss on Deposit guarantee (AFR 14 Sept 2011)

The role of credit ratings agencies (The Conversation, 2 August 2011)

Million Dollar cap doesn't fit (AFR 8 June 2011)

Self Managed is the Key (op-ed, AFR 16 April 2011)

Buybacks - what is happening? (op-ed, AFR 9 March 2011)

Mortgage fees must be transparent (op-ed)














"Are Tax Incentives needed for a Fifth Pillar?"  Australian Financial Review

"Taking off the bank fee blindfold" Business Spectator

"Mortgages: Time to Redesign" Australian Financial Review

"Muzzling the interest rate hounds" Business Spectator

"So manyways to sell a corporate bond"   Australian Financial Review

 "The urgent task of recapitalizing banks: doing it gradually" Australian Financial Review

 "Derivative ethics"

"Adding up numbers the creative way"  Australian Financial Review

"Bank Funding and LiquidityMelbourne APEC Finance Quarterly, Issue 8,

  "Foreign Language School failures: Redesiging the ESOS Assurance Fund" Australian Financial Review

"Banks have to find common ground" Australian Financial Review



   "Arguments against APRA Proposals are straw dogs"       Australian Financial Review 


"RMBS feel the squeeze" Australian Financial Review 


"What Ripoll Didn't Recommend" Australian Financial Review 


"RBA's third law of finance" Australian Financial Review 


"What Now for Housing Debt" Australian Financial Review 


"After the Storm" Business Spectator


  "Flight to quality risks helping banks grow too big" Australian Financial Review 


   "Covered Bonds should be on the Government's financial reform agenda" The Age 


"Distortion is preferable to destruction" Australian Financial Review 


"The haircut solution" Business Spectator


"Beware of Unintended Consequences" Australian Financial Review 


"The guarantee needs fine-tuning" Business Spectator


"No need for a market when a simple tax will do" Australian Financial Review 


   "Finance system in search of a solution" Australian Financial Review 


"Clayton's Deposit Insurance" Australian Financial Review 


"Regulation by reaction is usually wrong" Australian Financial Review 


(with Christine Brown) "Mapping our sub-prime epidemic"  Business Spectator


"Bank capital's at a premiumAustralian Financial Review 


"Home loans a far from simple affair" The Age


"Basel II too fragile to cope with modern pressures" Australian Financial Review 


The G-20 and the Financial Implications of Demographic Change The Age

25/4/2007 Housing would be a super asset


"A question of shareholder equity" Australian Financial Review 


"Protection won't break the bank" Australian Financial Review 


"Not a free source of capital" Australian Financial Review 


"Bigger is not better: you can bank on it" Australian Financial Review 


"CBA Float Under Scrutiny" (Letter to the Editor) Australian Financial Review