Monetary policy, redistribution and endogenous asset market incompleteness. This project aims to provide a new framework for modelling agent heterogeneity and for evaluating the effects of monetary policy on aggregate welfare and wealth distribution over the business cycle. This project will focus on monetary policy, using new quantitative theories with new efficient computational methods, to understand and quantify links between monetary policy the dynamics of aggregate outcomes (such as inflat ....Monetary policy, redistribution and endogenous asset market incompleteness. This project aims to provide a new framework for modelling agent heterogeneity and for evaluating the effects of monetary policy on aggregate welfare and wealth distribution over the business cycle. This project will focus on monetary policy, using new quantitative theories with new efficient computational methods, to understand and quantify links between monetary policy the dynamics of aggregate outcomes (such as inflation or employment), and the distribution of individual wealth (such as money, capital and housing).Read moreRead less
Taxation, family policy and pension reform in an uncertain economy. The policies with which this research is concerned are central in determining the well being of millions of Australians in both current and future generations. It is important that these policies be debated and formulated on the basis of the best possible conceptual framework and with the most reliable possible quantitative assessments of their effects. It is also important that the policies concerned be considered jointly rathe ....Taxation, family policy and pension reform in an uncertain economy. The policies with which this research is concerned are central in determining the well being of millions of Australians in both current and future generations. It is important that these policies be debated and formulated on the basis of the best possible conceptual framework and with the most reliable possible quantitative assessments of their effects. It is also important that the policies concerned be considered jointly rather than in isolation from each other. The work will therefore directly assist policy makers in this area. Since it will be at the leading edge of current research, it will also benefit Australia's standing in the international research community.Read moreRead less
Modelling the Impact of Home and Market Productivities on Employment Status, Part-time and Full-time Wages, and Household Formation. Australia has one of the highest proportions of part-time workers of OECD countries. The project aims to investigate, both theoretically and empirically, the determinants of full-time/part-time wage differentials, and of employment status and household formation. This will be done in a new framework that incorporates demand and supply side factors; that explicitly ....Modelling the Impact of Home and Market Productivities on Employment Status, Part-time and Full-time Wages, and Household Formation. Australia has one of the highest proportions of part-time workers of OECD countries. The project aims to investigate, both theoretically and empirically, the determinants of full-time/part-time wage differentials, and of employment status and household formation. This will be done in a new framework that incorporates demand and supply side factors; that explicitly allows for a distribution of productivities across home and market production; and that allows for the augmentation of workplace productivity by investment in human capital. The study will produce new models and empirical results, and contribute to rigorous, informed debate on these important issues.Read moreRead less
Putting death in its place. The project aims to link 890,000 population records to place of residence from 1838 to 1930, to examine the relationships between where people live, mortality, life expectancy and health. Where people live impacts their life-course outcomes. Using novel matching techniques, the project expects to identify intergenerational changes and the spatial dynamics of inequality and social mobility. Expected outcomes include the creation of a public resource of linked data and ....Putting death in its place. The project aims to link 890,000 population records to place of residence from 1838 to 1930, to examine the relationships between where people live, mortality, life expectancy and health. Where people live impacts their life-course outcomes. Using novel matching techniques, the project expects to identify intergenerational changes and the spatial dynamics of inequality and social mobility. Expected outcomes include the creation of a public resource of linked data and a better understanding of long-run health and inequality. These should provide economic and social benefits by informing policy aimed at contemporary social and health challenges, enhancing our understanding of Australian history, and developing public resources.Read moreRead less
An Integrated Approach to the Timing of Retirement: Life Cycle, Labour Force Heterogeneity, Financial Status and Public Support. This project will generate new knowledge on household decision making over retirement timing. National benefits will be generated through improved institutional design and policy formulation, which in turn will promote a labour market conducive to increased mature-age participation. The project involves collaboration across several institutions and will contribute to t ....An Integrated Approach to the Timing of Retirement: Life Cycle, Labour Force Heterogeneity, Financial Status and Public Support. This project will generate new knowledge on household decision making over retirement timing. National benefits will be generated through improved institutional design and policy formulation, which in turn will promote a labour market conducive to increased mature-age participation. The project involves collaboration across several institutions and will contribute to the development of research expertise through the training of PhDs and research assistants, creating a critical threshold of integrated research into ageing. This will facilitate a world-class presence in this important domain, thus contributing directly to the National Research Priority of Ageing Well, Ageing Productively.Read moreRead less
Optimal taxation when the allocation of time matters. This project aims to incorporate evidence-based models of time allocation, which go beyond the simple division between work and leisure, in optimal tax settings. This approach will help to inform the public policy debate on child support, by questioning whether, and if so how, to subsidise childcare, where parental time use plays a crucial role.
Effective and efficient corporate tax enforcement. This project uses economic theory and experimental tests in order to inform tax authorities on how to best audit tax receipts from corporations. The project will result in advice on how audit resources should be allocated across firms, if minimising corporate tax evasion and at the same time maximising social welfare are the authority's objective.
Estimating the impact of fiscal stimulus on household expenditure. This project aims to measure the impact on household expenditure of unexpected government bonus payments. Precise measures of this parameter can help improve fiscal policy in Australia and overseas, whilst giving researchers a more precise understanding of how households react to unexpected increases in disposable income. This research will also make a methodological contribution, since we will be using a research methodology not ....Estimating the impact of fiscal stimulus on household expenditure. This project aims to measure the impact on household expenditure of unexpected government bonus payments. Precise measures of this parameter can help improve fiscal policy in Australia and overseas, whilst giving researchers a more precise understanding of how households react to unexpected increases in disposable income. This research will also make a methodological contribution, since we will be using a research methodology not previously implemented in Australia, which is to exploit the random timing of payments across households, combined with a unique household-level panel dataset on weekly expenditure. The project will compare results using this approach with results from other strategies, such as surveys and time series analysis.Read moreRead less
Time-consistent macroeconomic policy in nonlinear models. Efforts to use fiscal policy for macro-stabilisation have led to elevated debt levels and possible default in many countries. This project examines the appropriate design of fiscal policy and its implications for debt over the business cycle.
Monetary and Fiscal Policy under Imperfect Knowledge. This project lays out an agenda exploring the consequences of imperfect knowledge for macroeconomic dynamics and stabilisation policy. Learning dynamics are central to understanding aggregate fluctuations in periods during which agents have limited information about their environment, as has been the case during and after the Global Financial Crisis. The agenda comprises two lines of inquiry. The first develops theoretical issues relating to ....Monetary and Fiscal Policy under Imperfect Knowledge. This project lays out an agenda exploring the consequences of imperfect knowledge for macroeconomic dynamics and stabilisation policy. Learning dynamics are central to understanding aggregate fluctuations in periods during which agents have limited information about their environment, as has been the case during and after the Global Financial Crisis. The agenda comprises two lines of inquiry. The first develops theoretical issues relating to the design and implementation of monetary and fiscal policy under imperfect knowledge. The second adduces empirical evidence on the classes of possible beliefs that any macroeconomic model should account for.Read moreRead less