Australian Laureate Fellowships - Grant ID: FL120100034
Funder
Australian Research Council
Funding Amount
$2,002,560.00
Summary
Black swans and unknown unknowns: financial markets and their interaction with the macroeconomy in the presence of unanticipated contingencies. Unforeseen contingencies, also called 'black swans' or 'unknown unknowns' pose serious difficulties for decisionmakers. This project will examine how financial regulation can be improved to reduce the vulnerability of the financial system and the macroeconomy to unforeseen shocks.
Asset pricing with social interactions, adaptive learning, and differences in opinion. This project seeks to understand how social interactions and adaptive learning of investors affect asset prices in highly competitive and adaptive financial markets. It will develop an evolutionary asset pricing theory, novel empirical hypotheses and tests of financial market characteristics and provide implications for policy and market regulation.
Regional financial stability: ownership linkages of financial institutions and propagation of systemic risk. Financial stability in our region has a significant effect on the prosperity, competitiveness and viability of the Australian financial industry. This project will analyse how the ownership of financial institutions in the Asian and European regions can contribute to regional and global financial stability with a focus on systemic risk and governance.
Transforming Banking Service Delivery Through Connected Communities. This project aims to develop a deeper understanding of the potential that the increased connectedness between customers has for organisations in the services sector. The massive uptake of social technologies demonstrates the high demand for connectedness. However, to date corporations and their customers have insufficient means to utilise such communities. Using the banking sector as an example, the project's outcomes intend to ....Transforming Banking Service Delivery Through Connected Communities. This project aims to develop a deeper understanding of the potential that the increased connectedness between customers has for organisations in the services sector. The massive uptake of social technologies demonstrates the high demand for connectedness. However, to date corporations and their customers have insufficient means to utilise such communities. Using the banking sector as an example, the project's outcomes intend to show how digital communities can improve the delivery of services and facilitate new co-delivery and brokerage models.Read moreRead less
Retirement income product innovation. This project aims to develop and assess comprehensive retirement income products to support sustainable retirement income streams for the Australian superannuation system. It will provide a framework to develop flexible structured retirement income products, taking into account the fair and effective allocation of costs and risks. Actuarial and financial analysis will highlight savings in Age Pension and aged care costs arising from more effective design of ....Retirement income product innovation. This project aims to develop and assess comprehensive retirement income products to support sustainable retirement income streams for the Australian superannuation system. It will provide a framework to develop flexible structured retirement income products, taking into account the fair and effective allocation of costs and risks. Actuarial and financial analysis will highlight savings in Age Pension and aged care costs arising from more effective design of retirement income products incorporating investment and longevity risk. It intends to develop risk sharing retirement products, risk management strategies, and longevity index-based hedging contracts to share and mitigate financial and longevity risk.Read moreRead less
Discovery Early Career Researcher Award - Grant ID: DE140100253
Funder
Australian Research Council
Funding Amount
$373,700.00
Summary
Bank governance and financial crisis: implications for bank risk-taking, earnings management, and information efficiency. The global financial crisis signified that the connections between the governance of banks, their performance, and the long-term stability of the financial system are not well understood. This project investigates how executives' compensation, audit efforts and ownership structure in banks impact their risk-taking, accounting choices and information flows in a global setting ....Bank governance and financial crisis: implications for bank risk-taking, earnings management, and information efficiency. The global financial crisis signified that the connections between the governance of banks, their performance, and the long-term stability of the financial system are not well understood. This project investigates how executives' compensation, audit efforts and ownership structure in banks impact their risk-taking, accounting choices and information flows in a global setting for the periods before and around the crisis. The project findings will advance our knowledge of how to improve the existing monitoring systems of banks to safeguard the economy and to provide a more transparent bank system. The project will also facilitate an evaluation of the effectiveness of various reforms that were initiated following the crisis.Read moreRead less
Risk management with real-time financial and business conditions indicators. This project will develop new methods that combine financial and macroeconomic information that arrives at different intervals to better understand the implications of this information for risk management and policy decision-making. This will support better risk management strategies especially when economic conditions are very volatile.
Regulating a Revolution: A New Regulatory Model for Digital Finance. This project aims to draw on regulatory developments abroad to develop an innovative, proportional, incremental regulatory regime for Australian digital financial services (DFS). DFS are set to grow rapidly in Australia, just as they have overseas. An effective and appropriate regulatory regime should result in a more competitive and efficient payments system that will lift productivity and economic growth. The project also int ....Regulating a Revolution: A New Regulatory Model for Digital Finance. This project aims to draw on regulatory developments abroad to develop an innovative, proportional, incremental regulatory regime for Australian digital financial services (DFS). DFS are set to grow rapidly in Australia, just as they have overseas. An effective and appropriate regulatory regime should result in a more competitive and efficient payments system that will lift productivity and economic growth. The project also intends to analyse and resolve regulatory roadblocks to the growth of DFS in developing countries to promote financial inclusion and economic growth, and thereby reduce poverty, in such countries.Read moreRead less
Change Detection in Causal Relationships and Measurement of Systemic Risk. Empirical measures of interconnectedness between financial institutions based on tests of Granger causality are currently used in detecting systemic risk. However, researchers need to define periods of calm and stress exogenously in order to implement these tests appropriately. This project aims to develop a new procedure to identify changes in causal relationships and the timing of these changes. The new approach has the ....Change Detection in Causal Relationships and Measurement of Systemic Risk. Empirical measures of interconnectedness between financial institutions based on tests of Granger causality are currently used in detecting systemic risk. However, researchers need to define periods of calm and stress exogenously in order to implement these tests appropriately. This project aims to develop a new procedure to identify changes in causal relationships and the timing of these changes. The new approach has the potential to be a significant improvement in the real-time identification of emerging turmoil in financial markets and provide an improved method for the detection of systemic risk. The new test procedure will be implemented using data for financial and non-financial institutions across Europe, the US and Australia.Read moreRead less
Discovery Early Career Researcher Award - Grant ID: DE120102589
Funder
Australian Research Council
Funding Amount
$375,000.00
Summary
Monetary policy and models of money, credit and banking. This project develops models with money and credit following recent developments in monetary theory with microfoundations. The objectives of the project are to understand the fundamental functions of credit, how credit affects the aggregate economy, and how credit affects the transmission of monetary policy.