Helping Central Banks Measure Unobserved Variables Using Real-time Forecasts. The project addresses structural measurement problems confronted routinely by central bankers. The techniques developed, and the estimates provided, will aid directly the Partner Organisations (the Reserve Bank of Australia, the Reserve Bank of New Zealand and Norges Bank) and other central banks in formulating monetary policy. The analysis will allow interest rates in Australia and elsewhere to be set with greater pre ....Helping Central Banks Measure Unobserved Variables Using Real-time Forecasts. The project addresses structural measurement problems confronted routinely by central bankers. The techniques developed, and the estimates provided, will aid directly the Partner Organisations (the Reserve Bank of Australia, the Reserve Bank of New Zealand and Norges Bank) and other central banks in formulating monetary policy. The analysis will allow interest rates in Australia and elsewhere to be set with greater precision. The techniques developed in this project will facilitate the understanding and communication of monetary policy within the central banks concerned, and enhance communication of monetary policy strategy to the public.Read moreRead less
Towards a superannuation system fit for the future. Towards a superannuation system fit for the future. This project aims to develop a stochastic superannuation model and propose alternative post retirement solutions, using data-led understanding of savings habits. Funding for the increasing cost of the growing older population will, if not modelled, forecast and managed adequately, swamp all other welfare and state funded costs. To manage older age costs adequately, governments need to encourag ....Towards a superannuation system fit for the future. Towards a superannuation system fit for the future. This project aims to develop a stochastic superannuation model and propose alternative post retirement solutions, using data-led understanding of savings habits. Funding for the increasing cost of the growing older population will, if not modelled, forecast and managed adequately, swamp all other welfare and state funded costs. To manage older age costs adequately, governments need to encourage people to save and provide ways people can save—but need to better understand how people save money for their old age. This research is expected to enable the “superannuation change“ necessary for the superannuation system to remain sustainable and fund retirees to live well.Read moreRead less
Financing aged care in Australia: Mitigating fiscal gaps and maintaining intergenerational equity. Aged care has been identified as a significant contributor to the growing fiscal problems predicted for Australian government finances during the next 10 to 20 years. This project will develop the cutting-edge modelling tools needed to allow Australia to make informed decisions about possible reforms in aged care financing. It will create significant national benefits by allowing detailed assessmen ....Financing aged care in Australia: Mitigating fiscal gaps and maintaining intergenerational equity. Aged care has been identified as a significant contributor to the growing fiscal problems predicted for Australian government finances during the next 10 to 20 years. This project will develop the cutting-edge modelling tools needed to allow Australia to make informed decisions about possible reforms in aged care financing. It will create significant national benefits by allowing detailed assessment of the distributional impact of a wide range of possible reforms, including how the outcomes of any policy change will affect disadvantaged sections of our society, whether different generations will be fairly treated, and the impact by gender.Read moreRead less
Developing a responsive regulatory system for Australia's small corporations. Small corporations employ approximately 50% of Australia's 10.5 million employed persons (ABS: Nov 2007). Promoting and maintaining small corporations is vital to the health of the Australian economy and the well being of society. This research will strengthen Australia's social and economic fabric by identifying, in consultation with regulators, industry leaders, government, the ideal regulatory environment for Aust ....Developing a responsive regulatory system for Australia's small corporations. Small corporations employ approximately 50% of Australia's 10.5 million employed persons (ABS: Nov 2007). Promoting and maintaining small corporations is vital to the health of the Australian economy and the well being of society. This research will strengthen Australia's social and economic fabric by identifying, in consultation with regulators, industry leaders, government, the ideal regulatory environment for Australia's small corporations. A responsive regulatory framework will enable small corporations to conduct business more efficiently and profitably allowing for and creating structures and processes for encouraging and managing innovation creativity in this vital sector.Read moreRead less
Eddy-resolving global ocean-sea ice modelling. Eddy-resolving global ocean-sea ice modelling. This project aims to develop a world-class global ocean-sea ice model framework through a nationwide consortium. The resulting high resolution models are expected to provide the foundation for the next decade of Australian ocean-sea ice modelling capacity. This research should lead to improved ocean and sea ice prediction, ocean reanalyses, and climate projections, enhancing Australia's capacity to pred ....Eddy-resolving global ocean-sea ice modelling. Eddy-resolving global ocean-sea ice modelling. This project aims to develop a world-class global ocean-sea ice model framework through a nationwide consortium. The resulting high resolution models are expected to provide the foundation for the next decade of Australian ocean-sea ice modelling capacity. This research should lead to improved ocean and sea ice prediction, ocean reanalyses, and climate projections, enhancing Australia's capacity to predict the ocean state on timescales of days to decades. This is expected to yield efficiencies in shipping, marine search and rescue and naval operations, and increase the accuracy of projected future changes in climate, sea level, ocean ecosystems and the cryosphere.Read moreRead less
Building Australia's next-generation ocean-sea ice model. Ocean and sea ice models are used for predicting future ocean and climate states, and for climate process research. This project aims to bring the next generation of ocean-sea ice models to Australia and configure the models for our local priorities. The ultimate goal is to create a new coupled ocean-sea ice model for Australia that includes surface waves and biogeochemistry. The model will be optimised and evaluated on Australian facilit ....Building Australia's next-generation ocean-sea ice model. Ocean and sea ice models are used for predicting future ocean and climate states, and for climate process research. This project aims to bring the next generation of ocean-sea ice models to Australia and configure the models for our local priorities. The ultimate goal is to create a new coupled ocean-sea ice model for Australia that includes surface waves and biogeochemistry. The model will be optimised and evaluated on Australian facilities, and released for community use. These developments underpin future ocean state forecasts, sea ice forecasts, wave forecasts, decadal climate prediction and climate process studies. The project will benefit search and rescue, Defence and shipping operations, and will enhance future climate projections.Read moreRead less
Expenditure needs and drawdown of retirement savings during later life: how important are demographic factors and financial resources? Projections of expenditure patterns in retirement which allow for population heterogeneity will provide individuals with a better appreciation of their income needs and their savings requirements for a comfortable retirement. It will also enable financial institutions to develop products which better target retirees' needs over the course of retirement, and in ad ....Expenditure needs and drawdown of retirement savings during later life: how important are demographic factors and financial resources? Projections of expenditure patterns in retirement which allow for population heterogeneity will provide individuals with a better appreciation of their income needs and their savings requirements for a comfortable retirement. It will also enable financial institutions to develop products which better target retirees' needs over the course of retirement, and in addition it will enable improved assessment of aspects of Government income support policy. Specifically, understanding the complex interactions between private and public pensions, and concession card receipt upon expenditure behaviour, will enable more accurate costings of the public support of elderly families as Australia's population ages. Read moreRead less
Three dimensional computational models of geological basin and hinterland evolution incorporating lithospheric mantle and surface processes. Petroleum exploration in deepwater areas offshore Australia is becoming increasingly important as more accessible, shallow water oil reserves near exhaustion. Geological simulation is an important tool for understanding deep water basins where geophysical imaging techniques are less effective. This project will develop 3D computational models relevant to un ....Three dimensional computational models of geological basin and hinterland evolution incorporating lithospheric mantle and surface processes. Petroleum exploration in deepwater areas offshore Australia is becoming increasingly important as more accessible, shallow water oil reserves near exhaustion. Geological simulation is an important tool for understanding deep water basins where geophysical imaging techniques are less effective. This project will develop 3D computational models relevant to understanding the development and evolution of geological basins and the sediments that fill them. The models will be integrated with available offshore data for potentially prospective Australian basins in the Northwest Shelf and the Southern Australian margin.Read moreRead less
Evaluating the weather in climate models - the relationship of dynamics and rainfall over Australia in current and future climates. Climate change will be experienced by society as a change in the day-to-day weather. This project will investigate the capabilities of modern climate models in simulating the weather with a particular focus on rainfall, and will provide guidance to the use of these models in projections of the future of Australia's climate.
Mathematics and computing for integrated stockyard-centric management of mining supply chains. Blended mineral products, such as coal and iron ore, make a strong contribution to Australia's economy. Blending occurs in stockpiles, so to realise product value, stockyard and supply chain operational plans must align with blend targets. This project will provide new mathematical and computational planning tools to maximise this value.