The Role of a Central Bank’s Balance Sheet in Shaping the Economy. In response to the global financial crisis, the world’s major central banks cut their rates to near zero and implemented untested unconventional monetary policies, significantly expanding the size and composition of their balance sheets. More than a decade later, the Reserve Bank of Australia is considering similar balance sheet policies. This proposal aims to develop various frameworks that can be used to simulate and evaluate w ....The Role of a Central Bank’s Balance Sheet in Shaping the Economy. In response to the global financial crisis, the world’s major central banks cut their rates to near zero and implemented untested unconventional monetary policies, significantly expanding the size and composition of their balance sheets. More than a decade later, the Reserve Bank of Australia is considering similar balance sheet policies. This proposal aims to develop various frameworks that can be used to simulate and evaluate when and how to eventually undo unconventional monetary policies in order to prevent a prolonged recession. Thus this research proposal will contribute to the current Australian monetary policy debate while providing some insights on how best to implement such policies, improving the living standards of Australians.Read moreRead less
Lifelong Education and Health Investment: Implications for Life Expectancy, Economic Growth and Public Policy. This project will provide Australian policymakers a clear picture of the complex interaction between various policy instruments including subsidies on health and education and income support for retirees and children on the one hand, and socioeconomic outcomes including saving rates, labour participation, productivity, fertility, life expectancy and inequality on the other hand. This kn ....Lifelong Education and Health Investment: Implications for Life Expectancy, Economic Growth and Public Policy. This project will provide Australian policymakers a clear picture of the complex interaction between various policy instruments including subsidies on health and education and income support for retirees and children on the one hand, and socioeconomic outcomes including saving rates, labour participation, productivity, fertility, life expectancy and inequality on the other hand. This knowledge can be used to frame government policies in the areas of health, education, superannuation and pension, and family support. In particular, the project will inform policymakers about the mix of private and public funding of the health system that can produce better health and social outcomes.Read moreRead less
An Improved Framework for Analysing the Fiscal Implications of Population Ageing. The Commonwealth Government's 'National Strategy for an Ageing Australia' explicitly acknowledged the potential for intergenerational conflict in Australia as relatively fewer young people must provide for the consumption of a growing proportion of retired people. The Intergenerational Report (IGR) in 2002 was an important step in national planning to avoid such a conflict. The proposed project seeks to address maj ....An Improved Framework for Analysing the Fiscal Implications of Population Ageing. The Commonwealth Government's 'National Strategy for an Ageing Australia' explicitly acknowledged the potential for intergenerational conflict in Australia as relatively fewer young people must provide for the consumption of a growing proportion of retired people. The Intergenerational Report (IGR) in 2002 was an important step in national planning to avoid such a conflict. The proposed project seeks to address major shortcomings in the IGR and provide an improved framework for future IGRs. The project addresses two Priority Goals within the Designated National Research Priority 2. These are: 'Ageing well, ageing productively' and 'strengthening Australia's social and economic fabric'.Read moreRead less
Mental-health intervention and non-urban detection screen project. If, as expected, there is a positive return-on-investment to employers for mental health screening and early intervention, employers will adopt these methodologies. This eases the burden on the public health system. Early intervention reduces hospitalisations and the psychiatric medications prescribed resulting in decreased MBS and PBS spending. Intervention for mental health decreases transitions into unemployment, sickness o ....Mental-health intervention and non-urban detection screen project. If, as expected, there is a positive return-on-investment to employers for mental health screening and early intervention, employers will adopt these methodologies. This eases the burden on the public health system. Early intervention reduces hospitalisations and the psychiatric medications prescribed resulting in decreased MBS and PBS spending. Intervention for mental health decreases transitions into unemployment, sickness or disability benefit reducing the societal burden of mental health. Maintaining individuals in employment also increases tax revenue. Increase in employee's productivity serves to increase gross domestic product. The employees, their families, and community's quality of life will improve.Read moreRead less
Climate change: adaptation and resilience in the face of uncertainty. Climate change poses a wide range of challenges to Australia's agricultural sector and for the management of natural ecosystems. These challenges are recognised in the National Research Priorities 1, An Environmentally Sustainable Australia, and 4, Safeguarding Australia. The potential economic costs of climate change to vital national assets such as the Murray-Darling Basin and the Great Barrier Reef, amount to billions of do ....Climate change: adaptation and resilience in the face of uncertainty. Climate change poses a wide range of challenges to Australia's agricultural sector and for the management of natural ecosystems. These challenges are recognised in the National Research Priorities 1, An Environmentally Sustainable Australia, and 4, Safeguarding Australia. The potential economic costs of climate change to vital national assets such as the Murray-Darling Basin and the Great Barrier Reef, amount to billions of dollars per year, and ecological costs are even more significant. Uncertainty about the rate at which climate change will take place and about effects in different regions is central to the problem. This project will explore adaptive management strategies that promote resilience in the face of uncertainty.
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Incorporating the gains from healthy ageing in health system planning. This project aims to develop evidence-based fit-for-purpose economic models for planning future capacity for public health programmes by developing new methodological approaches incorporating dynamic changes in health and health risks over time. The project expects to generate new knowledge on the impact of improvements in physical and mental well-being on funding and capacity requirements for public programmes to meet tomorr ....Incorporating the gains from healthy ageing in health system planning. This project aims to develop evidence-based fit-for-purpose economic models for planning future capacity for public health programmes by developing new methodological approaches incorporating dynamic changes in health and health risks over time. The project expects to generate new knowledge on the impact of improvements in physical and mental well-being on funding and capacity requirements for public programmes to meet tomorrow’s needs for care instead of projecting yesterday’s use of care. Expected outcomes include new economic models responsive to changes in population characteristics, conditions and contexts. The proposed research should provide significant benefits through improving efficiency of public investments in health.Read moreRead less
How does the Structure of Government, in Particular the Extent of Fiscal Decentralisation, Affect Long Term Economic Performance in Australia? The research analyses how Australia should best structure its government to maximise long-term economic performance in terms of economic growth and the optimal provision of public goods such as health, education and other public infrastructure. The optimal division of revenue raising and spending responsibilities between the federal government, State gove ....How does the Structure of Government, in Particular the Extent of Fiscal Decentralisation, Affect Long Term Economic Performance in Australia? The research analyses how Australia should best structure its government to maximise long-term economic performance in terms of economic growth and the optimal provision of public goods such as health, education and other public infrastructure. The optimal division of revenue raising and spending responsibilities between the federal government, State governments and other sub-national bodies like city and regional councils will be rigorously assessed from an economic perspective. The research will lead to recommendations regarding improvements in the structure of Australia's government sector, particularly the extent and nature of fiscal decentralisation, capable of improving productivity and future living standards.Read moreRead less
Child Dental Benefit Policies and the Health of Australian Children. This project aims to examine the early effects of two recent initiatives by the Australian government to improve children’s dental health by providing funds to cover essential dental services for children from disadvantaged families. It explores the factors affecting eligible children’s access to benefits from these initiatives and identifies the causal impacts of these changed health care financing arrangements on children’s c ....Child Dental Benefit Policies and the Health of Australian Children. This project aims to examine the early effects of two recent initiatives by the Australian government to improve children’s dental health by providing funds to cover essential dental services for children from disadvantaged families. It explores the factors affecting eligible children’s access to benefits from these initiatives and identifies the causal impacts of these changed health care financing arrangements on children’s consumption of dental services, indicators of oral health and general health, and other indicators of cognitive and non-cognitive development. Using advanced econometric techniques and panel datasets, this project is expected to contribute to the development of effective policies for promoting health and wellbeing.Read moreRead less
Long term economic impacts of disease on older workers to 2030: Costs to government and individuals and opportunities for intervention. This project will fill substantial gaps in Australian evidence about the health conditions of the future that will keep older workers out of the labour market and diminish their own immediate and long-term livings standards, thereby reducing funds available to government. We will address one of the most significant issues resulting from the fundamental changes t ....Long term economic impacts of disease on older workers to 2030: Costs to government and individuals and opportunities for intervention. This project will fill substantial gaps in Australian evidence about the health conditions of the future that will keep older workers out of the labour market and diminish their own immediate and long-term livings standards, thereby reducing funds available to government. We will address one of the most significant issues resulting from the fundamental changes to the demography of the Australian labour market and one that is regularly raised by the government following the release of the 2002 and 2007 Intergenerational Reports. This project will also examine the interventions that would improve the health of older workers and increase labour force participation over the long term.Read moreRead less
Technological innovation, trade liberalization, unemployment, and policy design. Australia, like all economies, is heavily influenced by technological changes and shifting trade patterns. Understanding these influences, and the impact they have on the distribution of income, the unemployment rate, and the job mix, is very important for the design of appropriate policy initiatives. The proposed research aims to achieve exactly this by developing a mathematical model which incorporates technologic ....Technological innovation, trade liberalization, unemployment, and policy design. Australia, like all economies, is heavily influenced by technological changes and shifting trade patterns. Understanding these influences, and the impact they have on the distribution of income, the unemployment rate, and the job mix, is very important for the design of appropriate policy initiatives. The proposed research aims to achieve exactly this by developing a mathematical model which incorporates technological change, trade, and unemployment. The model will be used to analyse the effects of these changes and, thus, to design optimal policy. The results from this project should also stimulate policy discussions both within Australia and abroad - enriching academic relations between domestic and international universities.Read moreRead less