Understanding the Effects of News Shocks on Macroeconomic Fluctuations. There are significant potential benefits for Australia. First, it could lead to more effective policymaking, with an understanding of how policy in one branch of the government can affect other sectors that have not been considered before. For example, changes in fiscal policy can affect not just growth, but also unemployment, inflation, and the income distribution. Second, this project will make a contribution to the resear ....Understanding the Effects of News Shocks on Macroeconomic Fluctuations. There are significant potential benefits for Australia. First, it could lead to more effective policymaking, with an understanding of how policy in one branch of the government can affect other sectors that have not been considered before. For example, changes in fiscal policy can affect not just growth, but also unemployment, inflation, and the income distribution. Second, this project will make a contribution to the research training of new macroeconomists in Australia: we will train three PhD students in the very latest methods. We also will organize a conference and bring the very top economists in the world to work with researchers here, and to consider issues surrounding the Australian economy. Read moreRead less
The Allocation of Risk and Economic Slumps. The aim of this project is to construct and analyse models that identify a novel feedback mechanism in which the distribution of investment risk interacts with aggregate employment variations. It will provide a useable framework for economic policy analysis in which the distribution of wealth affects the demand for investment risk while the distribution of production risk affects the supply of labour income risk.
Multiscale Singularly Perturbed Control Systems. We propose to develop a unified averaging technique to analyse deterministic and stochastic multiscale singularly perturbed control systems. Such systems arise as mathematical models of real-world dynamical systems in which state variables can change their values with the rates of different orders of magnitude. The technique is based on the assumption that the system, which would describe the dynamics of the fast state variables if slow ones were ....Multiscale Singularly Perturbed Control Systems. We propose to develop a unified averaging technique to analyse deterministic and stochastic multiscale singularly perturbed control systems. Such systems arise as mathematical models of real-world dynamical systems in which state variables can change their values with the rates of different orders of magnitude. The technique is based on the assumption that the system, which would describe the dynamics of the fast state variables if slow ones were frozen, possesses certain ergodicity properties expressed in the existence of its limit occupational measures set. Conditions for the existence of such a set will be studied and its structure will be described.Read moreRead less
Duality, singular perturbations and numerical analysis in infinite dimensional linear programming problems related to problems of control of nonlinear dynamical systems. Problems of control of nonlinear dynamical systems attract continued interest of eminent researchers motivated by important applications and by the fact that analytical and/or numerical analysis of a general nonlinear control problem presents a challenging task. The outcomes of the project will be both fundamental theoretical re ....Duality, singular perturbations and numerical analysis in infinite dimensional linear programming problems related to problems of control of nonlinear dynamical systems. Problems of control of nonlinear dynamical systems attract continued interest of eminent researchers motivated by important applications and by the fact that analytical and/or numerical analysis of a general nonlinear control problem presents a challenging task. The outcomes of the project will be both fundamental theoretical results and readily applicable (linear programming based) algorithms that will equip researchers and engineers with new tools for analysis and numerical solution of nonlinear control problems (including problems that have been intractable so far). The project will further enhance Australia's international reputation in Control Theory and its Applications.
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Occupational Measures Approach to Long Run Average and Singularly Perturbed Optimal Control Problems. Problems of optimal control of long-run average and singularly perturbed systems arise in many applications. The project will lead to the development of new linear programming based techniques for analyzing these problems (including problems intractable so far) and finding their numerical solutions. The new techniques will have a potential to be further developed into software that can benefit A ....Occupational Measures Approach to Long Run Average and Singularly Perturbed Optimal Control Problems. Problems of optimal control of long-run average and singularly perturbed systems arise in many applications. The project will lead to the development of new linear programming based techniques for analyzing these problems (including problems intractable so far) and finding their numerical solutions. The new techniques will have a potential to be further developed into software that can benefit Australian industries and technologies. The proposed topic is in the focus of interest of many eminent researchers around the world and the dissemination of our results will further improve Australia's standing in the international research community. Read moreRead less
Construction of utility functions from observations of consumer behaviour with application to resource modelling and water management strategies. The optimisation techniques developed will be on the forefront of applied mathematical sciences and will increase the prestige of the Australian mathematical community. The expected results will also be of value because they can be used to improve the CGE modelling technique. The implementation of the CGE model of one of Victoria's agricultural regions ....Construction of utility functions from observations of consumer behaviour with application to resource modelling and water management strategies. The optimisation techniques developed will be on the forefront of applied mathematical sciences and will increase the prestige of the Australian mathematical community. The expected results will also be of value because they can be used to improve the CGE modelling technique. The implementation of the CGE model of one of Victoria's agricultural regions will be used to improve the accuracy of regional economic models and will contribute to efficient regional resource management. This has the potential to positively affect the economic growth and employment in the region. The expected outcomes of the project are especially important taking into account the need for predicting the socio-economic consequences of the 1994 COAG water reforms. Read moreRead less
Population ageing, labour mobility and sustainability of China's economic growth - a dynamic general equilibrium analysis. China is Australia's second largest trading partner. This project will enable Australian policymakers and business partners to gain better understanding of China's macroeconomic performance between 2008 and 2030. Secondly, China is the second largest source of immigrants to Australia. Given that Australia's population is ageing and labour shortages are expected, Australia ma ....Population ageing, labour mobility and sustainability of China's economic growth - a dynamic general equilibrium analysis. China is Australia's second largest trading partner. This project will enable Australian policymakers and business partners to gain better understanding of China's macroeconomic performance between 2008 and 2030. Secondly, China is the second largest source of immigrants to Australia. Given that Australia's population is ageing and labour shortages are expected, Australia may benefit increasingly from the flow of Chinese immigrants. The project will provide Australian policymakers with detailed labour supply forecasts in China disaggregated by age, sex, sector and region that will enable them to develop targeted immigration policies and effectively harness the flow of Chinese emigrants to Australia.Read moreRead less
Ubiquity of K-theory and T-duality. An abstract mathematical tool, called K-theory, has recently found application in two, not obviously related, areas of physics: the classification of D-branes in String Theory, and topological phases in Condensed Matter Theory. This project aims to advance the development of K-theory using ideas from physics. In particular, the project aims to generalise previous constructions, such as T-duality, to loop spaces, and to develop the K-theory relevant to the clas ....Ubiquity of K-theory and T-duality. An abstract mathematical tool, called K-theory, has recently found application in two, not obviously related, areas of physics: the classification of D-branes in String Theory, and topological phases in Condensed Matter Theory. This project aims to advance the development of K-theory using ideas from physics. In particular, the project aims to generalise previous constructions, such as T-duality, to loop spaces, and to develop the K-theory relevant to the classification of topological phases in strongly interacting systems. This project involves postgraduate training as a crucial tool in achieving its aims and enhances Australia's position at the forefront of international research.Read moreRead less
Higher Line Bundles in Geometry and Physics. This project seeks to develop a theory of geometric objects, `higher line bundles', which realise elements of higher dimensional cohomology groups. In particular this project will develop a theory of differential geometry for these objects, allowing one to interpret differential forms representing cohomology classes as the `curvature' of a higher line bundle. This will have applications in quantum field theory and string/brane theory.
Global aspects of dualities in String Theory in the presence of background fluxes. String Theory, known to the general public as the "Theory of Everything', is currently an extremely active area of research internationally. It has not only stimulated considerable interaction between mathematical physicists and mathematicians, but also increased public interest in science through television programs and books. Unfortunately, the majority of the Australian scientific community has not yet caught ....Global aspects of dualities in String Theory in the presence of background fluxes. String Theory, known to the general public as the "Theory of Everything', is currently an extremely active area of research internationally. It has not only stimulated considerable interaction between mathematical physicists and mathematicians, but also increased public interest in science through television programs and books. Unfortunately, the majority of the Australian scientific community has not yet caught up with these developments. Our recent papers, all published in premier journals in this field, have not only received widespread international attention but have also increased the profile of String Theory amongst Australia's mathematicians and mathematical physicists. The proposed project is expected to continue this trend.Read moreRead less