Uncertainty and the success of innovation. This proposal outlines an empirically-oriented project, with strong conceptual foundations, that will add significantly to our understanding of the barriers to successful commercial exploitation of innovations in Australia. There is currently no other applied work in this area in Australia of this scope and empirical content. Our approach adopts a rigorous approach to the measurement of innovation and performance, and looks at the effect of uncertainty ....Uncertainty and the success of innovation. This proposal outlines an empirically-oriented project, with strong conceptual foundations, that will add significantly to our understanding of the barriers to successful commercial exploitation of innovations in Australia. There is currently no other applied work in this area in Australia of this scope and empirical content. Our approach adopts a rigorous approach to the measurement of innovation and performance, and looks at the effect of uncertainty on the relationship between the two. The results of this exercise will translate into both government and corporate policy.Read moreRead less
The Market for Technology in Australia. Over the last 5 years, formalised markets for technology have accelerated in the US. However, there is no recognised formal market in Australia. Results from our primary data collection and analysis will highlight whether deficiencies in the market for technology are creating obstacles for the commercialisation of Australian technology. This is a particularly important issue for Australia given our relative isolation arising from geographical distance and ....The Market for Technology in Australia. Over the last 5 years, formalised markets for technology have accelerated in the US. However, there is no recognised formal market in Australia. Results from our primary data collection and analysis will highlight whether deficiencies in the market for technology are creating obstacles for the commercialisation of Australian technology. This is a particularly important issue for Australia given our relative isolation arising from geographical distance and lack of attachment to a major trading bloc such as the EU or NAFTA.Read moreRead less
ARC Research Network for Economic Design. The Economic Design Network is a partnership of more than one hundred researchers and over forty international universities and research centres. The Network will support cross disciplinary research and policy innovation using state of the art techniques in economic theory and experimental economics. It will create practical policy tools that can be used to solve complex social and economic problems in industry economics, health economics and environment ....ARC Research Network for Economic Design. The Economic Design Network is a partnership of more than one hundred researchers and over forty international universities and research centres. The Network will support cross disciplinary research and policy innovation using state of the art techniques in economic theory and experimental economics. It will create practical policy tools that can be used to solve complex social and economic problems in industry economics, health economics and environmental policy. By linking Australian mid and early career researchers into multidisciplinary teams based around the world's top experimental economics laboratories, it will create a world class economic design capacity in Australia.Read moreRead less
The evolution of Australian enterprises, 1990 to 2007 : An empirical analysis of the relationship between turbulence among firms, productivity, growth and exports. This project will examine determinants and effects of enterprise entry and exit on growth, export and productivity in Australian industry using innovative panel enterprise data sets which have been collated and linked from existing ABS surveys, administrative data and accounting data. Currently, there is only one short longitudinal en ....The evolution of Australian enterprises, 1990 to 2007 : An empirical analysis of the relationship between turbulence among firms, productivity, growth and exports. This project will examine determinants and effects of enterprise entry and exit on growth, export and productivity in Australian industry using innovative panel enterprise data sets which have been collated and linked from existing ABS surveys, administrative data and accounting data. Currently, there is only one short longitudinal enterprise data set in Australia. Further data sets are required if policy makers are to understand patterns and causes of growth and business survival in Australia. Understanding provided from these studies should significantly improve our undertanding of how businesses perform.Read moreRead less
Bargaining and the price of new pharmaceuticals in Australia: An empirical analysis. The proposed research will consider whether there is a trade-off between price and access and will identify features of the regulatory framework that contribute to delays in securing access to drugs for diseases with no alternative therapy. It will provide decision makers with the necessary information to negotiate the lowest achievable price for drugs, freeing up resources for use elsewhere in the health sector ....Bargaining and the price of new pharmaceuticals in Australia: An empirical analysis. The proposed research will consider whether there is a trade-off between price and access and will identify features of the regulatory framework that contribute to delays in securing access to drugs for diseases with no alternative therapy. It will provide decision makers with the necessary information to negotiate the lowest achievable price for drugs, freeing up resources for use elsewhere in the health sector or slowing the growth in healthcare expenditure.Read moreRead less
Scarcity of Ideas and Design of Optimal Incentive Schemes for Innovation. Since innovation is the driving force behind economic growth, enhancing its innovative capacity is an important consideration for Australia. From an economics point of view, this requires the design of optimal incentive schemes in the institutional structures which are central to promoting innovation. The proposed research aims to achieve exactly this by developing a definition of innovativeness and analyzing its implicati ....Scarcity of Ideas and Design of Optimal Incentive Schemes for Innovation. Since innovation is the driving force behind economic growth, enhancing its innovative capacity is an important consideration for Australia. From an economics point of view, this requires the design of optimal incentive schemes in the institutional structures which are central to promoting innovation. The proposed research aims to achieve exactly this by developing a definition of innovativeness and analyzing its implications. Its results will contribute to the policy discussions on innovation in Australia and will enhance the academic interactions between Australian and international universities.Read moreRead less
Robust Optimal Asset Liability Management via Stochastic Control Theory. The Australian federal and state governments are strongly exposed to the Australian and international investment markets, either directly or through entities such as the Future Fund, state-owned insurers and superannuation schemes. Additionally, the investment pool represented by individual Australian's superannuation savings managed by non-government organisations is significant. Robust and effective management of these ....Robust Optimal Asset Liability Management via Stochastic Control Theory. The Australian federal and state governments are strongly exposed to the Australian and international investment markets, either directly or through entities such as the Future Fund, state-owned insurers and superannuation schemes. Additionally, the investment pool represented by individual Australian's superannuation savings managed by non-government organisations is significant. Robust and effective management of these assets in order to meet future liabilities of these funds are essential to a stable Australian economy. This research has the potential to be a key component of reliable investment management, helping make Australia an important investment hub.Read moreRead less
Economic modelling for Australia and the USA: forecasts, policy analysis and comparative studies of technology and labour market adjustment. This project involves: a fundamental overhaul of MONASH, a widely used detailed dynamic model of the Australian economy; the creation of MONASH-USA for the United States; and several model-based Australia/US comparisons. MONASH's database and parameters will be updated, and its theoretical specification improved. MONASH-USA will be an advance over existing ....Economic modelling for Australia and the USA: forecasts, policy analysis and comparative studies of technology and labour market adjustment. This project involves: a fundamental overhaul of MONASH, a widely used detailed dynamic model of the Australian economy; the creation of MONASH-USA for the United States; and several model-based Australia/US comparisons. MONASH's database and parameters will be updated, and its theoretical specification improved. MONASH-USA will be an advance over existing US models and will generate policy results of interest both in the United States and Australia. MONASH-USA will have an excellent database and is likely to produce insights on parameter estimation. These will be applicable in Australia. Together, MONASH and MONASH-USA will facilitate comparative studies of technology and labour-market performance.Read moreRead less
General Purpose Technologies, Complementarities and the Convergence of Industries: A Comparative Study of Information Technology, Biotechnology and Nanotechnology. Modern economies are being transformed by several waves of new, converging general purpose technologies such as information technology, biotechnology and nanotechnologies. This project will undertake a comparative analysis of four aspects of this process: the pattern of development and convergence, the extent of industry concentratio ....General Purpose Technologies, Complementarities and the Convergence of Industries: A Comparative Study of Information Technology, Biotechnology and Nanotechnology. Modern economies are being transformed by several waves of new, converging general purpose technologies such as information technology, biotechnology and nanotechnologies. This project will undertake a comparative analysis of four aspects of this process: the pattern of development and convergence, the extent of industry concentration of activity in particular regions, the implications for firm strategy and options for policy responses. The underlying objective is to provide a knowledge base for Australian firms and governments, to guide strategies to enable Australia to develop a competitive position in these emerging technologies and industries.Read moreRead less
China's Industrialisation and Demand for Energy and Minerals. Understanding China's medium and long-term growth prospects and the implications for both demand and supply of resources are critically important to Australian economic policy and performance, as well as to investment decisions of Australian resource producers, and professional decisions of Australians in a wide range of occupations. Analysis of the medium and long-term demand for resources from China would be beneficial for Australia ....China's Industrialisation and Demand for Energy and Minerals. Understanding China's medium and long-term growth prospects and the implications for both demand and supply of resources are critically important to Australian economic policy and performance, as well as to investment decisions of Australian resource producers, and professional decisions of Australians in a wide range of occupations. Analysis of the medium and long-term demand for resources from China would be beneficial for Australian resource industries. It is also important to Australian budget, education and infrastructure policy. Increasing Chinese demand for resources will be critical in shaping global environmental policies.Read moreRead less