House Prices in Australia: A Hedonic Analysis. House prices are an important input to monetary policy since they impact directly on inflation and may be a source of speculative bubbles. The Governor of the Reserve Bank, however, recently described housing as the ``weakest link in all the price data.'' This project will attempt to resolve this problem. The resulting indexes should be of considerable interest to the Reserve Bank, the media, home owners, the real estate industry, and enhance the re ....House Prices in Australia: A Hedonic Analysis. House prices are an important input to monetary policy since they impact directly on inflation and may be a source of speculative bubbles. The Governor of the Reserve Bank, however, recently described housing as the ``weakest link in all the price data.'' This project will attempt to resolve this problem. The resulting indexes should be of considerable interest to the Reserve Bank, the media, home owners, the real estate industry, and enhance the reputation of Australian universities. They will also quantify the extent of the burden imposed on young people by rising house prices, and its consequent strain on society.Read moreRead less
Culture and Economy: Economic and Cultural Value Creation in the Arts, Heritage and Cultural Industries. This project considers how the arts and cultural sectors in the contemporary market economy contribute to the creation of economic and cultural value. The principal aims of the project are to advance both theoretical and empirical understanding of the valuation of cultural goods and services, consolidating and extending methods for determining the economic value of such commodities, and dev ....Culture and Economy: Economic and Cultural Value Creation in the Arts, Heritage and Cultural Industries. This project considers how the arts and cultural sectors in the contemporary market economy contribute to the creation of economic and cultural value. The principal aims of the project are to advance both theoretical and empirical understanding of the valuation of cultural goods and services, consolidating and extending methods for determining the economic value of such commodities, and developing new approaches to the integrated assessment of their cultural value, using original data for the arts, heritage and cultural industries in Australia. The results will have significant implications for cultural policy formation in Australia and internationally.Read moreRead less
The Theory and Measurement of Stock-Market Indices. This project should promote an innovation culture in Australia by
designing new benchmark indices for evaluating the performance of
fund managers (and other uses), thus encouraging the allocation of
funds to their most productive uses. It will produce a better
measure of asset price inflation than any currently in existence
which will be of use to the Reserve Bank in the setting of
monetary policy. This project will also enhance the reput ....The Theory and Measurement of Stock-Market Indices. This project should promote an innovation culture in Australia by
designing new benchmark indices for evaluating the performance of
fund managers (and other uses), thus encouraging the allocation of
funds to their most productive uses. It will produce a better
measure of asset price inflation than any currently in existence
which will be of use to the Reserve Bank in the setting of
monetary policy. This project will also enhance the reputation of
Australian universities as centres of cutting-edge academic
research, provide a thesis topic for a PhD student, and help build
links between the academic and private sectors.Read moreRead less
International exchanges of knowledge, temporary skilled labour movements, and Australia's economic growth. It is known that skilled labour is a significant source of economic growth as it creates new knowledge and innovation, and that Australia, like other countries, uses policies to attract skilled migrants. It is less known however that thousands of skilled workers also migrate temporarily, often to exchange knowledge. Whilst the effect of permanent migration is widely researched, this project ....International exchanges of knowledge, temporary skilled labour movements, and Australia's economic growth. It is known that skilled labour is a significant source of economic growth as it creates new knowledge and innovation, and that Australia, like other countries, uses policies to attract skilled migrants. It is less known however that thousands of skilled workers also migrate temporarily, often to exchange knowledge. Whilst the effect of permanent migration is widely researched, this project will examine the economic impact of short-term labour movements. Using data from DIMIA and surveying temporary migrants, this project will analyse the consequences of temporary labour movements on Australia's innovation ability, productivity and economic growth, contributing to develop migration policy.Read moreRead less
The Impact of Hiring and Firing Costs on Wages and Unemployment. Hiring and firing costs are a crucial part of intense debates over relationships between labour market flexibility, wages and unemployment. However, we have little information about their levels and structure. Using a new theoretical model of the impact of hiring and firing costs, together with information from a large-scale survey of Australian firms, this project quantifies their impacts on wages and unemployment. Better infor ....The Impact of Hiring and Firing Costs on Wages and Unemployment. Hiring and firing costs are a crucial part of intense debates over relationships between labour market flexibility, wages and unemployment. However, we have little information about their levels and structure. Using a new theoretical model of the impact of hiring and firing costs, together with information from a large-scale survey of Australian firms, this project quantifies their impacts on wages and unemployment. Better information about these impacts will contribute to current policy on training, unfair dismissal laws, and regulation of overtime. Efficiency gains from better policy will be a major national benefit, together with improved prospects for unemployed Australians.Read moreRead less
The burden of epilepsy study: Impact on well-being, service use and economic outcomes. This research into the humanitarian needs of people with epilepsy is a necessary extension to the current bulk of knowledge about epilepsy which is diagnostic, clinical and pharmacological. Its focus is on well-being, service use and economic burden this study is expected to give a good return on investment. To ensure an uptake of its findings, the study was developed with the national Epilepsy Action, Epilep ....The burden of epilepsy study: Impact on well-being, service use and economic outcomes. This research into the humanitarian needs of people with epilepsy is a necessary extension to the current bulk of knowledge about epilepsy which is diagnostic, clinical and pharmacological. Its focus is on well-being, service use and economic burden this study is expected to give a good return on investment. To ensure an uptake of its findings, the study was developed with the national Epilepsy Action, Epilepsy Society of Australia as well as addressing questions deemed important by the World Health Organization, the International League against Epilepsy, and the International Bureau of Epilepsy. Findings will inform epilepsy guidelines, policy recommendations and programs to reduce the burden of illness.Read moreRead less
The Dynamics Shaping Underground Economic Behaviour. Tax evasion and the underground economy have recently become a topical issue in Australia. The underground economy is said to exist when a person either fails to declare cash earnings or overstates consumption expenditure in order to minimise their tax paying obligations. This current project will undertake the first international analysis of the behaviour of those participating in the underground economy and how these individuals respond to c ....The Dynamics Shaping Underground Economic Behaviour. Tax evasion and the underground economy have recently become a topical issue in Australia. The underground economy is said to exist when a person either fails to declare cash earnings or overstates consumption expenditure in order to minimise their tax paying obligations. This current project will undertake the first international analysis of the behaviour of those participating in the underground economy and how these individuals respond to changes in taxes and economic opportunities. The results will contribute to future decisions that may affect tax policy, tax audit programs and taxpayer compliance initiative strategies, particularly those affecting Australia. Read moreRead less
The economics of filial informal care: future trends and directions for policy supports. This project examines the family decision on informal care and living arrangements, it aims to make constructive policy suggestions in order to promote the healthy life of elderly people, support more productive and fulfilling lives of adult children with elderly parents and fortify supportive family structures.
The demand and supply of retirement provision. Population and a shrinking public sector mean increasing self-provision for retirement. This project examines various aspects of private retirement provision, focussing on both demand and supply in the retirement income industry. It will analyse institutional features of markets, pension funds and policy structures, and their implications for saving and investment behaviour, life-long financial strategies, efficient resource allocation, and retireme ....The demand and supply of retirement provision. Population and a shrinking public sector mean increasing self-provision for retirement. This project examines various aspects of private retirement provision, focussing on both demand and supply in the retirement income industry. It will analyse institutional features of markets, pension funds and policy structures, and their implications for saving and investment behaviour, life-long financial strategies, efficient resource allocation, and retirement income adequacy. Specially emphasised will be: the role of housing as a retirement asset; the impact of governance structure on pension fund administration; and firm technology and employer-sponsored pension plans. Empirical research will embrace Australia, Japan and the US, allowing international comparison.Read moreRead less
Biosecurity or Trade Barrier? The Economic Costs of Quarantine. Agricultural, fishing and forestry groups are united in supporting strict biosecurity measures, such as quarantine, in order to prevent any possibility of the importation of diseases. However, the importation of certain products from "diseased" countries does not necessarily mean that the disease will also be imported, and even if imported it may not result in the destruction of the local industry. The "diseased" countries obviousl ....Biosecurity or Trade Barrier? The Economic Costs of Quarantine. Agricultural, fishing and forestry groups are united in supporting strict biosecurity measures, such as quarantine, in order to prevent any possibility of the importation of diseases. However, the importation of certain products from "diseased" countries does not necessarily mean that the disease will also be imported, and even if imported it may not result in the destruction of the local industry. The "diseased" countries obviously remain competitive if they are able to export the products. Foreign quarantine restrictions are restricting Australia's access to international markets. The costs to consumers of the current zero-tolerance policy has not been quantified. The costs may indeed exceed the benefit.Read moreRead less