Helping Central Banks Measure Unobserved Variables Using Real-time Forecasts. The project addresses structural measurement problems confronted routinely by central bankers. The techniques developed, and the estimates provided, will aid directly the Partner Organisations (the Reserve Bank of Australia, the Reserve Bank of New Zealand and Norges Bank) and other central banks in formulating monetary policy. The analysis will allow interest rates in Australia and elsewhere to be set with greater pre ....Helping Central Banks Measure Unobserved Variables Using Real-time Forecasts. The project addresses structural measurement problems confronted routinely by central bankers. The techniques developed, and the estimates provided, will aid directly the Partner Organisations (the Reserve Bank of Australia, the Reserve Bank of New Zealand and Norges Bank) and other central banks in formulating monetary policy. The analysis will allow interest rates in Australia and elsewhere to be set with greater precision. The techniques developed in this project will facilitate the understanding and communication of monetary policy within the central banks concerned, and enhance communication of monetary policy strategy to the public.Read moreRead less
ASEAN+3 Free Trade Agreement and Its Impact on Australia-Vietnam Trade. The ASEAN+3 (China, Japan and Korea) free trade agreement endorsed by ASEAN Leaders in 2001 poses a serious trade diversion threat to Australia's goods and services trade to ASEAN and North Asia (reaching $33.9b and $85.0b respectively in 2001, see DFAT 2003). No research on this has been done or reported. The project, with Vietnam Institute for Trade collaboration, uses new analytical and empirical approaches to investigate ....ASEAN+3 Free Trade Agreement and Its Impact on Australia-Vietnam Trade. The ASEAN+3 (China, Japan and Korea) free trade agreement endorsed by ASEAN Leaders in 2001 poses a serious trade diversion threat to Australia's goods and services trade to ASEAN and North Asia (reaching $33.9b and $85.0b respectively in 2001, see DFAT 2003). No research on this has been done or reported. The project, with Vietnam Institute for Trade collaboration, uses new analytical and empirical approaches to investigate this FTA and its implications to Australia's trade to a major ASEAN country, namely Vietnam, where 2002 trade reached $2.8b and Australia's global companies (eg. ANZ, Telstra, RMIT) currently have large operation.Read moreRead less
Financing aged care in Australia: Mitigating fiscal gaps and maintaining intergenerational equity. Aged care has been identified as a significant contributor to the growing fiscal problems predicted for Australian government finances during the next 10 to 20 years. This project will develop the cutting-edge modelling tools needed to allow Australia to make informed decisions about possible reforms in aged care financing. It will create significant national benefits by allowing detailed assessmen ....Financing aged care in Australia: Mitigating fiscal gaps and maintaining intergenerational equity. Aged care has been identified as a significant contributor to the growing fiscal problems predicted for Australian government finances during the next 10 to 20 years. This project will develop the cutting-edge modelling tools needed to allow Australia to make informed decisions about possible reforms in aged care financing. It will create significant national benefits by allowing detailed assessment of the distributional impact of a wide range of possible reforms, including how the outcomes of any policy change will affect disadvantaged sections of our society, whether different generations will be fairly treated, and the impact by gender.Read moreRead less
Economic impact and policy implications of assisted reproductive technologies in Australia. Assisted reproductive technology (ART) is now a large scale economic activity in Australia, provided almost exclusively by private clinics. The outcome of ART programs, involving the birth of one in 30 children, has a profound effect on the health of the nation. Policy and funding frameworks influence how ART is practiced and the subsequent health outcomes of ART children, yet there is a lack of evidence ....Economic impact and policy implications of assisted reproductive technologies in Australia. Assisted reproductive technology (ART) is now a large scale economic activity in Australia, provided almost exclusively by private clinics. The outcome of ART programs, involving the birth of one in 30 children, has a profound effect on the health of the nation. Policy and funding frameworks influence how ART is practiced and the subsequent health outcomes of ART children, yet there is a lack of evidence to guide government and providers about effective, equitable and safe approaches to funding ART. This research will address that need, thereby fostering a healthy start to life and preventative healthcare; supporting the National Research Priority, promoting and maintaining good health, for ART children, their families and the community.Read moreRead less
Towards a superannuation system fit for the future. Towards a superannuation system fit for the future. This project aims to develop a stochastic superannuation model and propose alternative post retirement solutions, using data-led understanding of savings habits. Funding for the increasing cost of the growing older population will, if not modelled, forecast and managed adequately, swamp all other welfare and state funded costs. To manage older age costs adequately, governments need to encourag ....Towards a superannuation system fit for the future. Towards a superannuation system fit for the future. This project aims to develop a stochastic superannuation model and propose alternative post retirement solutions, using data-led understanding of savings habits. Funding for the increasing cost of the growing older population will, if not modelled, forecast and managed adequately, swamp all other welfare and state funded costs. To manage older age costs adequately, governments need to encourage people to save and provide ways people can save—but need to better understand how people save money for their old age. This research is expected to enable the “superannuation change“ necessary for the superannuation system to remain sustainable and fund retirees to live well.Read moreRead less
Developing a responsive regulatory system for Australia's small corporations. Small corporations employ approximately 50% of Australia's 10.5 million employed persons (ABS: Nov 2007). Promoting and maintaining small corporations is vital to the health of the Australian economy and the well being of society. This research will strengthen Australia's social and economic fabric by identifying, in consultation with regulators, industry leaders, government, the ideal regulatory environment for Aust ....Developing a responsive regulatory system for Australia's small corporations. Small corporations employ approximately 50% of Australia's 10.5 million employed persons (ABS: Nov 2007). Promoting and maintaining small corporations is vital to the health of the Australian economy and the well being of society. This research will strengthen Australia's social and economic fabric by identifying, in consultation with regulators, industry leaders, government, the ideal regulatory environment for Australia's small corporations. A responsive regulatory framework will enable small corporations to conduct business more efficiently and profitably allowing for and creating structures and processes for encouraging and managing innovation creativity in this vital sector.Read moreRead less
Understanding market mechanisms and determinants of transaction costs to achieve greater efficiency in Australian fixed-income markets. This project will provide information to policymakers and regulators, enabling the evolution of optimal fixed-income markets, with significant benefits for individuals and the national economy. These benefits will be both short-term (current wealth) and long-term (retirement saving). It will promote Australia as the leader in constructing optimal fixed-income ma ....Understanding market mechanisms and determinants of transaction costs to achieve greater efficiency in Australian fixed-income markets. This project will provide information to policymakers and regulators, enabling the evolution of optimal fixed-income markets, with significant benefits for individuals and the national economy. These benefits will be both short-term (current wealth) and long-term (retirement saving). It will promote Australia as the leader in constructing optimal fixed-income markets, which can be applied to similar markets around the world. Finally, training research students will develop research infrastructure in Australia, and contribute to produce a generation of specialists who will increase Australia's international standing in financial research and its ability to manage an increasingly complex economy.Read moreRead less
Understanding market mechanisms to achieve greater efficiency in the Australian residential real-estate market. This project will provide information to policy-makers, vendors and purchasers, enabling the evolution of an optimal real-estate market, with significant benefits for individuals and the national economy. These benefits will be both short-term (current wealth) and long-term (retirement saving). It will promote Australia as the leader in constructing optimal, efficient real-estate marke ....Understanding market mechanisms to achieve greater efficiency in the Australian residential real-estate market. This project will provide information to policy-makers, vendors and purchasers, enabling the evolution of an optimal real-estate market, with significant benefits for individuals and the national economy. These benefits will be both short-term (current wealth) and long-term (retirement saving). It will promote Australia as the leader in constructing optimal, efficient real-estate markets, which can be applied to similar real-estate markets around the world. Finally, training a research student will develop research infrastructure in Australia, and be a contribution to producing a generation of specialists who will add to Australia's international standing in financial research and its ability to manage an increasingly complex economy.Read moreRead less
Adaptation to carbon-tax-induced changes in energy demand in rural and regional Australia. The Clean Energy Bills will create a more sustainable environment but have a large impact on energy sectors. This project models the impact of the carbon tax and the responses of energy sectors.
Adding value to natural advantage through business clustering:Winners and losers along the Murray River. In terms of river-based business activity, the success of cities located on the Murray River, such as Albury/Wodonga, Echuca, Swan Hill and Mildura varies. We shall identify how some towns along the river have added value to the natural advantage of the river through business clustering while others have not. Processes by which successful communities have gained and retain advantage will be ....Adding value to natural advantage through business clustering:Winners and losers along the Murray River. In terms of river-based business activity, the success of cities located on the Murray River, such as Albury/Wodonga, Echuca, Swan Hill and Mildura varies. We shall identify how some towns along the river have added value to the natural advantage of the river through business clustering while others have not. Processes by which successful communities have gained and retain advantage will be compared with strategies applied by less successful towns. The concept of business clustering not only permits regional diversity to be more readily understood, but points to future initiatives for less successful regions.Read moreRead less