A new paradigm for catchment management: detection, forecasting and management of water catchments with multiple steady states. Understanding the response and recovery of Australia's water catchments to climatic change and variability is become increasingly urgent. Our catchments are vulnerable because there is a fundamental gap in our understanding of how they recover from high or low rainfall periods. This project will: a) advance water management concepts; b) build tools to understand how and ....A new paradigm for catchment management: detection, forecasting and management of water catchments with multiple steady states. Understanding the response and recovery of Australia's water catchments to climatic change and variability is become increasingly urgent. Our catchments are vulnerable because there is a fundamental gap in our understanding of how they recover from high or low rainfall periods. This project will: a) advance water management concepts; b) build tools to understand how and when catchments might switch to new states when hit by a disturbance; and c) identify how best to build the buffering capacity to reduce the chance of a switch occurring. The project will make Australia's groundwater and streamflow resources more secure and make Australian researchers and water resource managers world leaders in the emerging science of catchment resilience.Read moreRead less
Helping Central Banks Measure Unobserved Variables Using Real-time Forecasts. The project addresses structural measurement problems confronted routinely by central bankers. The techniques developed, and the estimates provided, will aid directly the Partner Organisations (the Reserve Bank of Australia, the Reserve Bank of New Zealand and Norges Bank) and other central banks in formulating monetary policy. The analysis will allow interest rates in Australia and elsewhere to be set with greater pre ....Helping Central Banks Measure Unobserved Variables Using Real-time Forecasts. The project addresses structural measurement problems confronted routinely by central bankers. The techniques developed, and the estimates provided, will aid directly the Partner Organisations (the Reserve Bank of Australia, the Reserve Bank of New Zealand and Norges Bank) and other central banks in formulating monetary policy. The analysis will allow interest rates in Australia and elsewhere to be set with greater precision. The techniques developed in this project will facilitate the understanding and communication of monetary policy within the central banks concerned, and enhance communication of monetary policy strategy to the public.Read moreRead less