Productivity Measurement, Drivers and Trends: A New Analytical Framework. Significant problems exist in the measurement of productivity and hence its understanding, impeding informed policy formulation. This project aims to advance new concepts and methods for productivity measurement that have the potential to improve policy and national welfare, with special attention to: productivity in the mining industry, which has been a particular problem for Australia; the increased holding of precaution ....Productivity Measurement, Drivers and Trends: A New Analytical Framework. Significant problems exist in the measurement of productivity and hence its understanding, impeding informed policy formulation. This project aims to advance new concepts and methods for productivity measurement that have the potential to improve policy and national welfare, with special attention to: productivity in the mining industry, which has been a particular problem for Australia; the increased holding of precautionary cash balances by firms during financial crises, representing underutilised resources; examination of firm productivity dynamics, without assuming the possibility of disappearing technology capability that is used in standard models; and a more realistic approach to capitalisation of research and development and other intangible investments.Read moreRead less
Banking System Competition and the Macro-economy. Australia has one of the most concentrated banking sectors in the world, generating concerns regarding its efficiency. This project aims to develop unified frameworks to understand and evaluate quantitatively how the structure of the banking industry affects the macro-economy and provide policy recommendations for establishing a healthy and efficient banking industry. This project expects to improve understanding of the welfare trade-off between ....Banking System Competition and the Macro-economy. Australia has one of the most concentrated banking sectors in the world, generating concerns regarding its efficiency. This project aims to develop unified frameworks to understand and evaluate quantitatively how the structure of the banking industry affects the macro-economy and provide policy recommendations for establishing a healthy and efficient banking industry. This project expects to improve understanding of the welfare trade-off between bank competition and economic well-being to enable policymakers to better determine the optimal concentration of banking sector in Australia. This will enhance the productivity and international competitiveness of Australia’s financial system and the broader economy.Read moreRead less
Large dynamic time-varying models for structural macroeconomic inference. This project aims to broaden the range of macroeconomic models that have an integrated capacity for both greater realism and efficiency in analysis. This approach will be applied to two contexts at the forefront of current macroeconomic research, the effects of noisy productivity signals on business cycles and the effects of fiscal policy shocks. Flexible macro-econometric models underpin accurate inference by economists ....Large dynamic time-varying models for structural macroeconomic inference. This project aims to broaden the range of macroeconomic models that have an integrated capacity for both greater realism and efficiency in analysis. This approach will be applied to two contexts at the forefront of current macroeconomic research, the effects of noisy productivity signals on business cycles and the effects of fiscal policy shocks. Flexible macro-econometric models underpin accurate inference by economists and policymakers and the project outputs should provide widespread and significant benefits by improving policy and boosting Australia’s comparative advantage.Read moreRead less
Nowcasting and Interpreting the Australian Economy. This project aims to investigate methods for nowcasting and interpreting the Australian economy. This is determining the current state of the economy and the factors contributing to it.
This project expects to generate new knowledge on how unconventional, new, data sources and innovative methods can be used to in nowcasting and how the Australian economy can be modelled.
The expected outcomes include timely new indicators of the state of the ec ....Nowcasting and Interpreting the Australian Economy. This project aims to investigate methods for nowcasting and interpreting the Australian economy. This is determining the current state of the economy and the factors contributing to it.
This project expects to generate new knowledge on how unconventional, new, data sources and innovative methods can be used to in nowcasting and how the Australian economy can be modelled.
The expected outcomes include timely new indicators of the state of the economy, and the factors contributing to it. This should provide significant benefits through informing the conduct of Australian macroeconomic policy, as the appropriate policy response depends not only on knowing the current state of the economy but understanding the economic factors underlying it.
Read moreRead less
The Integrated Bio-economy Project and the Controlled Biosphere. This project aims to develop advanced controlled environment production systems (Controlled Biosphere) that exceed the industry standard for profitability, sustainability and climatic resilience. It will generate new knowledge and innovations in technology integration through a highly multi-disciplinary approach. The project outcomes will yield Techno-Economic and Life-Cycle Analyses, designs of the Controlled Biosphere and support ....The Integrated Bio-economy Project and the Controlled Biosphere. This project aims to develop advanced controlled environment production systems (Controlled Biosphere) that exceed the industry standard for profitability, sustainability and climatic resilience. It will generate new knowledge and innovations in technology integration through a highly multi-disciplinary approach. The project outcomes will yield Techno-Economic and Life-Cycle Analyses, designs of the Controlled Biosphere and supporting policy frameworks. The benefits of this project address worsening resource constraints (e.g. available fresh water, arable land, nutrients); By 2050 we will require 70% more food, and 80% greenhouse gas emissions reductions, to maintain economic, social, political and climate security.Read moreRead less
The Economic Measurement of Property Markets: Prices, Bubbles, Economic Growth and Productivity. In collaboration with property fund manager and investor CorVal, and with the participation of the industry leader in benchmarking, property research and metrics, IPD Australia and New Zealand, this project aims to examine the economic measurement of property markets. Mathematical and statistical models aim to be developed for exploiting a large quantity of data made available at aggregate (economy w ....The Economic Measurement of Property Markets: Prices, Bubbles, Economic Growth and Productivity. In collaboration with property fund manager and investor CorVal, and with the participation of the industry leader in benchmarking, property research and metrics, IPD Australia and New Zealand, this project aims to examine the economic measurement of property markets. Mathematical and statistical models aim to be developed for exploiting a large quantity of data made available at aggregate (economy wide) and disaggregate (local area government) levels. The findings aim to contribute to an improved understanding of property price bubbles, concepts of market disequilibrium, and the role of the property market as a source of economic growth and productivity.Read moreRead less
Understanding the sources of secular stagnation. This project aims to examine why long-run projections of output, inflation, and interest rates have become lower for many economies in recent years resulting in a phenomenon often referred to as secular stagnation. The project intends to develop new econometric tools to account for sources of structural breaks and stochastic trends in order to quantify the roles of productivity growth, financial shocks, demographics, and inflation expectations in ....Understanding the sources of secular stagnation. This project aims to examine why long-run projections of output, inflation, and interest rates have become lower for many economies in recent years resulting in a phenomenon often referred to as secular stagnation. The project intends to develop new econometric tools to account for sources of structural breaks and stochastic trends in order to quantify the roles of productivity growth, financial shocks, demographics, and inflation expectations in driving secular stagnation. Expected outcomes include findings that will help guide macroeconomic policy responses to stagnation and new econometric tools that will support future applied research on changes in the behaviour of macroeconomic variables.Read moreRead less
Reassembling the city: understanding resident-led collective property sales. This project aims to investigate the emerging phenomenon of residential collective sales - where neighbours come together to sell their properties in one line - and the implications for urban residents and governments at local, metropolitan and national levels. It intends to provide the first ever detailed empirical analysis of this phenomenon, including mapping, case studies and stakeholder and expert interviews across ....Reassembling the city: understanding resident-led collective property sales. This project aims to investigate the emerging phenomenon of residential collective sales - where neighbours come together to sell their properties in one line - and the implications for urban residents and governments at local, metropolitan and national levels. It intends to provide the first ever detailed empirical analysis of this phenomenon, including mapping, case studies and stakeholder and expert interviews across Sydney and Vancouver, two cities at the forefront of collective sales activity. The project aims to make significant contributions to both policy and academic debates, by advancing knowledge on how shifting dynamics of neighbourhood change will affect the planning and development of global compact cities in the 21st century.Read moreRead less
Natural resources and ecosystem services in productivity measurement. This project aims to understand sources of productivity growth through addressing theoretical and practical problems in the economics of natural resources and ecosystem services. It will study the valuation of non-renewable resources and ecosystem services, acknowledging their contributions to economic activity and the effect on national income from their depletion and degradation. It will develop approaches to incorporating n ....Natural resources and ecosystem services in productivity measurement. This project aims to understand sources of productivity growth through addressing theoretical and practical problems in the economics of natural resources and ecosystem services. It will study the valuation of non-renewable resources and ecosystem services, acknowledging their contributions to economic activity and the effect on national income from their depletion and degradation. It will develop approaches to incorporating natural resource depletion and degradation into productivity analysis with the aim of better informing environmental, innovation and industry policy.Read moreRead less
Understanding Business Dynamism: Drivers and Macroeconomic Implications. Business dynamism – the process of firm entry, growth and exit – is key for productivity as it moves jobs and capital from less to more efficient uses. But, business dynamism (and with it growth in productivity and living standards) has slowed in many countries, including Australia. Grasping the reasons and economic effects of this is a challenge. This Project aims to reshape our thinking about business dynamism, its driver ....Understanding Business Dynamism: Drivers and Macroeconomic Implications. Business dynamism – the process of firm entry, growth and exit – is key for productivity as it moves jobs and capital from less to more efficient uses. But, business dynamism (and with it growth in productivity and living standards) has slowed in many countries, including Australia. Grasping the reasons and economic effects of this is a challenge. This Project aims to reshape our thinking about business dynamism, its drivers, and how it impacts the economy – from sources of long-run productivity growth and the cleansing effect of firm exit, to how climate risks impact business dynamism. The delivered empirical facts and models will aid policy design for reviving business dynamism, underpinning potentially large societal and economic gains.Read moreRead less