Financial crises, volatility and sovereign ratings: Do ratings really matter when they are needed most? The stability of Australian financial markets during the Asian financial crisis is a major economic success story. Subsequently, an important policy objective has been in enhancing the capacity of the financial infrastructure in regional financial markets to reduce their exposure to such crises. Recent financial market turmoil dramatically underscores the need to better understand the full myr ....Financial crises, volatility and sovereign ratings: Do ratings really matter when they are needed most? The stability of Australian financial markets during the Asian financial crisis is a major economic success story. Subsequently, an important policy objective has been in enhancing the capacity of the financial infrastructure in regional financial markets to reduce their exposure to such crises. Recent financial market turmoil dramatically underscores the need to better understand the full myriad of factors that feed into this challenging concern. One critical area of debate is whether or not rating agencies play a calming role. This project will deliver insights that aid development of the financial infrastructure to cope better with such crises and retain investor confidence.Read moreRead less
New approaches for testing in nonlinear models. The outcome of this project is a new econometric methodology that will be particularly useful for developing our understanding of Australian (and global) financial markets. Specific benefits are that (i) our value-at-risk models will enhance national and international awareness of issues relating to financial risk management; (ii) our exchange rate pass through model will aid the development of Australian trade and pricing policies and (iii) our du ....New approaches for testing in nonlinear models. The outcome of this project is a new econometric methodology that will be particularly useful for developing our understanding of Australian (and global) financial markets. Specific benefits are that (i) our value-at-risk models will enhance national and international awareness of issues relating to financial risk management; (ii) our exchange rate pass through model will aid the development of Australian trade and pricing policies and (iii) our duration models for trade in Australian stocks will lead to a better understanding of the microstructure of the Australian stock market.Read moreRead less
Distorted Beliefs and Asset Price Disconnect Puzzles. Asset price booms and busts have broad ranging implications for households. Despite this, models used for policy analysis struggle to explain asset prices and their implications for the macroeconomy. This project will deliver frontier macro-finance research to inform academics and policymakers on how to model asset price booms and busts, to explain why equity and house price falls appear to have small versus large effects, and how to design e ....Distorted Beliefs and Asset Price Disconnect Puzzles. Asset price booms and busts have broad ranging implications for households. Despite this, models used for policy analysis struggle to explain asset prices and their implications for the macroeconomy. This project will deliver frontier macro-finance research to inform academics and policymakers on how to model asset price booms and busts, to explain why equity and house price falls appear to have small versus large effects, and how to design effective policy responses. Led by internationally recognized experts in macroeconomics, this research proposal is perfectly positioned to deliver scientific peer-reviewed research and embed outcomes through evidenced partnerships with the Reserve Bank of Australia and the Federal Department of Treasury.Read moreRead less
Modelling multivariate financial time series using copulas. What are the chances that the losses in the market value of investments exceed the anticipated levels? Given that one country's financial market collapsed, what are the chances that it would lead to financial crises in other countries? These questions often arise in risk management and international finance. This project takes a significant step forward from the existing literature to develop new flexible and innovative methods to an ....Modelling multivariate financial time series using copulas. What are the chances that the losses in the market value of investments exceed the anticipated levels? Given that one country's financial market collapsed, what are the chances that it would lead to financial crises in other countries? These questions often arise in risk management and international finance. This project takes a significant step forward from the existing literature to develop new flexible and innovative methods to answer the foregoing type of questions. Further, this project proposes new measures of market risks that are suitable for communicating to the broader public as well as the experts.Read moreRead less
Australia's Resilience to Recession. This project aims to study why Australia differs from its OECD peers in that it has not had a recession for 27 years. It intends to generate knowledge by using economic models to solve 3 puzzles relating to Australia’s success: (i) why did foreign financial market shocks not spill over to the economy?; (ii) how has the resource curse that affects economies with a booming resource sector been avoided?; and (iii) what makes Australia special? Expected outcomes ....Australia's Resilience to Recession. This project aims to study why Australia differs from its OECD peers in that it has not had a recession for 27 years. It intends to generate knowledge by using economic models to solve 3 puzzles relating to Australia’s success: (i) why did foreign financial market shocks not spill over to the economy?; (ii) how has the resource curse that affects economies with a booming resource sector been avoided?; and (iii) what makes Australia special? Expected outcomes include the development of theoretical and empirical models that reflect the unique features of the Australian economy. This should provide significant benefits, including guidance to Australian and international policymakers on macroeconomic policies for resource-rich countries.Read moreRead less
A highly resolved chronostratigraphic and palaeoenvironmental framework for Pre-Salt Brazilian core basins. Hydrocarbon production and exploration today support viable economies. The engagement of industry with higher learning institutions will advance and enhance the discipline of petroleum geology, with a resultant spectrum from new sources of oil and gas to significantly reducing CO2 emissions (and decreasing the impact of global warming). National and community benefits are diverse: training ....A highly resolved chronostratigraphic and palaeoenvironmental framework for Pre-Salt Brazilian core basins. Hydrocarbon production and exploration today support viable economies. The engagement of industry with higher learning institutions will advance and enhance the discipline of petroleum geology, with a resultant spectrum from new sources of oil and gas to significantly reducing CO2 emissions (and decreasing the impact of global warming). National and community benefits are diverse: training and research support for many graduate students and staff in Australia, a better understanding of ancient greenhouse climates, testing and refinement of new techniques (e.g. bioevents, biosteering) in petroleum studies and practical experience of integrating data from frontier exploration wells.Read moreRead less
A novel foundation to extend the operation of mobile structures into deeper water. Oil and gas is a key industry in Australia, contributing A$17 billion to the economy. However, with the large accessible reserves in shallower waters becoming exhausted, Australian oil and gas companies require new technologies to extend their capabilities. The research in this proposal addresses this concern, providing an extension of the operational depth range of mobile jack-up platforms from 120 to 200 m. This ....A novel foundation to extend the operation of mobile structures into deeper water. Oil and gas is a key industry in Australia, contributing A$17 billion to the economy. However, with the large accessible reserves in shallower waters becoming exhausted, Australian oil and gas companies require new technologies to extend their capabilities. The research in this proposal addresses this concern, providing an extension of the operational depth range of mobile jack-up platforms from 120 to 200 m. This creates the opportunity to develop the significant number of Australia's smaller gas fields that are currently uneconomical to exploit. The proposed project will contribute to the future competitiveness of Australia's oil and gas industry and ensuring energy supply for the sustained growth of the Australian economy.Read moreRead less
Characterising and suppressing vortex induced vibration. Vortex-Induced Vibration has become the design limiting factor in offshore design of elements such as the flexible pipelines that bring oil and gas to the surface. With rising oil and gas prices it is becoming more economic to explore such resources in deeper waters, which exacerbates the problem. Currently, high factors of safety must be used in the design of such pipelines because of our current lack of understanding of when the vibratio ....Characterising and suppressing vortex induced vibration. Vortex-Induced Vibration has become the design limiting factor in offshore design of elements such as the flexible pipelines that bring oil and gas to the surface. With rising oil and gas prices it is becoming more economic to explore such resources in deeper waters, which exacerbates the problem. Currently, high factors of safety must be used in the design of such pipelines because of our current lack of understanding of when the vibrations occur and their frequency and amplitude. This study will provide insight into the character of such vibrations and also look at means of suppressing them.Read moreRead less
Wearable thermoelectric textiles for portable microelectronics. Wearable thermoelectrics enable the power generation from the temperature difference between human body and ambient temperature by using thermoelectric effect. This project aims to design eco-friendly wearable thermoelectric textiles to realize high-efficiency solid-state power generation and meet individual needs with human comfort and health. The target is to achieve a power density in the as-designed thermoelectric textiles by th ....Wearable thermoelectric textiles for portable microelectronics. Wearable thermoelectrics enable the power generation from the temperature difference between human body and ambient temperature by using thermoelectric effect. This project aims to design eco-friendly wearable thermoelectric textiles to realize high-efficiency solid-state power generation and meet individual needs with human comfort and health. The target is to achieve a power density in the as-designed thermoelectric textiles by the optimization of materials and device design. The outcome will open up a new platform for the green and sustainable charge for portable microelectronics, which will lead to an innovative technology for energy management, which will place Australia at the forefront of wearable electronics and textile industry.Read moreRead less