Modelling the Risk of Defined Contribution Superannuation Plans. The provision of retirement income is undergoing significant change - a shift from unfunded social security towards private funding and, within the privately funded sector, a shift from defined-benefit (DB) to defined-contribution (DC) plans. The research will develop a new framework, based on stochastic simulation, to undertake innovative critical analyses of the riskiness of DC superannuation plans. It extends existing work by ....Modelling the Risk of Defined Contribution Superannuation Plans. The provision of retirement income is undergoing significant change - a shift from unfunded social security towards private funding and, within the privately funded sector, a shift from defined-benefit (DB) to defined-contribution (DC) plans. The research will develop a new framework, based on stochastic simulation, to undertake innovative critical analyses of the riskiness of DC superannuation plans. It extends existing work by the inclusion of insitutional, regulatory and labour market features of the superannuation system. The results of the research, based on more finite modelling and greater economic accuracy, will be vital in informing retirement policy.Read moreRead less
Analysing global consumption patterns with a large number of commodities. This project provides estimates of the income and price sensitivities of consumption, for a large number of finely distinguished goods, across most countries. These, together with new ways of enhancing economic data (by recognising quality improvements of goods and uncertainty), will be of value to researchers, government and business.