On the relation between RG and ERG

We discuss how the ordinary renormalization group (RG) equations arise in the context of Wilson's exact renormalization group (ERG) as formulated by Polchinski. We consider the phi4 theory in four dimensional euclidean space as an example, and introduce a particular scheme of parameterizing the solutions of the ERG equations. By analyzing the scalar composite operators of dimension two and four, we show that the parameters obey mass independent RG equations. We conjecture the equivalence of our parameterization scheme with the MS scheme for dimensional regularization.