Modelling stock market liquidity in Australia and the Asia Pacific Region. This project will develop new methods of assessing stock market liquidity in Australia and the Asia-Pacific region. These methods will use high frequency transactions-based data provided by the industry partner, SIRCA. The data will be the basis of smart information real time algorithms for measuring market liquidity. They will incorporate generalizations and extensions of recent developments in time series econometrics, ....Modelling stock market liquidity in Australia and the Asia Pacific Region. This project will develop new methods of assessing stock market liquidity in Australia and the Asia-Pacific region. These methods will use high frequency transactions-based data provided by the industry partner, SIRCA. The data will be the basis of smart information real time algorithms for measuring market liquidity. They will incorporate generalizations and extensions of recent developments in time series econometrics, and will be calibrated and evaluated statistically. The novel methods will be crucial to market participants and to regulators, who will be able to apply them to assess market depth and liquidity, and reduce trading costs substantially.Read moreRead less
Stochastic Index Numbers and Their Application in Accounting, Economics and Finance. Index numbers of prices, such as the Consumer Price Index and the All Ordinaries Index, are among the most important economic statistics for the whole economy. But despite their importance, currently constructed price indexes do not use all the information available in the underlying price data, namely the dispersion among the individual prices. This project will develop and apply a methodology for a new approa ....Stochastic Index Numbers and Their Application in Accounting, Economics and Finance. Index numbers of prices, such as the Consumer Price Index and the All Ordinaries Index, are among the most important economic statistics for the whole economy. But despite their importance, currently constructed price indexes do not use all the information available in the underlying price data, namely the dispersion among the individual prices. This project will develop and apply a methodology for a new approach to index numbers that incorporates this information and leads to tractable ways of estimating the whole distribution of the index value, rather than just one number. The practical usefulness of this mthodology will be demonstrated with applications in accounting (sustainable earnings), economics (real exchange rates) and finance (share prices).Read moreRead less
The paradox of choice: Unravelling complex superannuation decisions. Australia has been a world-leader in retirement savings policy, but there remains a pervasive lack of understanding about how best to communicate complex financial information to decision-makers, along with a push by government for clearer disclosure and greater financial literacy. This project will inform regulators and the superannuation industry on how choices are made and how to present clearer, better-designed information ....The paradox of choice: Unravelling complex superannuation decisions. Australia has been a world-leader in retirement savings policy, but there remains a pervasive lack of understanding about how best to communicate complex financial information to decision-makers, along with a push by government for clearer disclosure and greater financial literacy. This project will inform regulators and the superannuation industry on how choices are made and how to present clearer, better-designed information to be understood by ordinary participants, thus encouraging active, well-informed participation rather than passive 'default' decisions. More efficient investment and benefit choices will improve the economic welfare of retirees, reduce the burden on the working-age population and improve fiscal sustainability.Read moreRead less