Centre of Full Employment and Equity

The Centre of Full Employment and Equity (known as CofFEE) is an official research centre at the University of Newcastle.

Our mission is to promote research aimed at restoring full employment and achieving an economy that delivers equitable outcomes for all.

CofFEE advocates the implementation and maintenance of the Job Guarantee

CofFEE Financial Resilience Barometer V.1.0

Released: October 18, 2023

CofFEE in collaboration with Professor Scott Baum (Griffith University) have developed a Financial Resilience Barometer Index, which provides a detailed assessment of financial vulnerability by geographic region for Australia.

You can view detailed 'suburb' profiles and use the mapping tool to produce chloropeth maps with additional details.

A technical introduction - The Australian Financial Resilience Barometer: An Index for Australian Localities - can be download.

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small map showing FRB colors

Recent Working Papers - 2023

William Mitchell- An Introduction to Modern Monetary Theory (October) - Download

William Mitchell - A comparative introduction to the economies of Australia and Japan (October) - Download

Scott Baum and William Mitchell - The Australian Financial Resilience Barometer: An Index for Australian Localities (October) - Download


CofFEE undertakes basic and applied research in areas such as macroeconomics, monetary systems, regional and urban economies, applied time series and spatial econometrics. CofFEE researchers are among the original developers of Modern Monetary Theory (MMT) and the concept of employment buffer stocks (Job Guarantee).

Our researchers also have a long record of completing research commissions for various clients including ILO, Asian Development Bank, European Commission, the Australian Government, various Trade Unions and industry associations. If you are interested in accessing our research expertise please contact our office.

Education - MMTed

CofFEE's education project - MMTed - provides on-line and face-to-face teaching and specialised Masterclasses to further the public understanding of Modern Monetary Theory (MMT).

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CofFEE Director Professor Bill Mitchell introducing the new Macroeconomics textbook - March 1, 2019.

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The Director's daily blog provides commentary and analysis of economic events.

Investing in a Job Guarantee

July 17, 2020: CofFEE's analytical simulation model shows that to reduce the unemployment rate from 10 per cent to 4 per cent, the net investment would be $51.7 billion for a year. This would create 1,244 thousand jobs, 200 thousand of them in the private sector as a result of the extra income earned by the Job Guarantee workers.

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See also a short Job Guarantee Q&A video with Professor William Mitchell.

Job Creation Sign

Modern Monetary Theory Textbook

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The MMT textbook - Macroeconomics - was published by Macmillan in February 2019. Second edition is coming in 2024.