Automation and Income Inequality: Macroeconomic Policy Implications. The transition to wider use of robotics and artificial intelligence may eventually make our citizens better off, yet effects on domestic income and wealth inequality remain uncertain, depending strongly on general governance and macroeconomic policy regimes. This project would help clarify income inequality effects, both abroad and in Australia, through (i) new numerical theory from calibrated economic models at the global and ....Automation and Income Inequality: Macroeconomic Policy Implications. The transition to wider use of robotics and artificial intelligence may eventually make our citizens better off, yet effects on domestic income and wealth inequality remain uncertain, depending strongly on general governance and macroeconomic policy regimes. This project would help clarify income inequality effects, both abroad and in Australia, through (i) new numerical theory from calibrated economic models at the global and national levels; (ii) econometric testing of results from global and national data; (iii) the use of emerging insights to analyse economic policy responses and their global interaction as well as the implications for Australian economic policyRead moreRead less
Nowcasting and Interpreting the Australian Economy. This project aims to investigate methods for nowcasting and interpreting the Australian economy. This is determining the current state of the economy and the factors contributing to it.
This project expects to generate new knowledge on how unconventional, new, data sources and innovative methods can be used to in nowcasting and how the Australian economy can be modelled.
The expected outcomes include timely new indicators of the state of the ec ....Nowcasting and Interpreting the Australian Economy. This project aims to investigate methods for nowcasting and interpreting the Australian economy. This is determining the current state of the economy and the factors contributing to it.
This project expects to generate new knowledge on how unconventional, new, data sources and innovative methods can be used to in nowcasting and how the Australian economy can be modelled.
The expected outcomes include timely new indicators of the state of the economy, and the factors contributing to it. This should provide significant benefits through informing the conduct of Australian macroeconomic policy, as the appropriate policy response depends not only on knowing the current state of the economy but understanding the economic factors underlying it.
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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.
Estimation of the continuous piecewise linear model and macroeconomic applications. Relationships between economic variables are often characterised by non-linearities. This project develops a method to analyse a type of non-linearity that is frequently encountered in economics and uses this method to study four specific applications concerning the dynamics of inflation, growth, and the exchange rate.
Challenging the neoliberal critique of deficit spending and public debt. This project aims to analyse the rhetoric of balanced budgets by examining its intellectual and political history and revisiting counterarguments. Expected outcomes from the project will include insights into the development of rhetoric based on analysis of archival, textual and interview-based data . Findings from the project will be published in online fora with wide readership in national and international policy circle ....Challenging the neoliberal critique of deficit spending and public debt. This project aims to analyse the rhetoric of balanced budgets by examining its intellectual and political history and revisiting counterarguments. Expected outcomes from the project will include insights into the development of rhetoric based on analysis of archival, textual and interview-based data . Findings from the project will be published in online fora with wide readership in national and international policy circles. The project has the capacity to provide insights into and benefits for policy discourse on government deficit-spending and public debt.Read moreRead less
Optimal policy in the global liquidity trap. The recent global financial crisis has led most central banks in developed economies to reduce their policy interest rates to unprecedentedly low levels. As a result, the liquidity trap has now become a serious concern internationally. This project will derive the optimal monetary and fiscal policy in the global liquidity trap. It will also show how a shock in one country affects other countries and propose tools for improving the empirical fit of the ....Optimal policy in the global liquidity trap. The recent global financial crisis has led most central banks in developed economies to reduce their policy interest rates to unprecedentedly low levels. As a result, the liquidity trap has now become a serious concern internationally. This project will derive the optimal monetary and fiscal policy in the global liquidity trap. It will also show how a shock in one country affects other countries and propose tools for improving the empirical fit of the models in a liquidity trap. This project will become the foundation for the discussion of policy options in the global liquidity trap.Read moreRead less
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
Estimating the impact of fiscal stimulus on household expenditure. The tax bonus payments of the $42 billion Nation Building and Jobs Plan were among the largest fiscal policy packages in the developed world. This project applies a new methodology to estimate the short-term impact of this cash handout on consumer spending, allowing better modelling of the Australian economy.