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.
Read moreRead less
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
Banking System Competition and the Macro-economy. Australia has one of the most concentrated banking sectors in the world, generating concerns regarding its efficiency. This project aims to develop unified frameworks to understand and evaluate quantitatively how the structure of the banking industry affects the macro-economy and provide policy recommendations for establishing a healthy and efficient banking industry. This project expects to improve understanding of the welfare trade-off between ....Banking System Competition and the Macro-economy. Australia has one of the most concentrated banking sectors in the world, generating concerns regarding its efficiency. This project aims to develop unified frameworks to understand and evaluate quantitatively how the structure of the banking industry affects the macro-economy and provide policy recommendations for establishing a healthy and efficient banking industry. This project expects to improve understanding of the welfare trade-off between bank competition and economic well-being to enable policymakers to better determine the optimal concentration of banking sector in Australia. This will enhance the productivity and international competitiveness of Australia’s financial system and the broader economy.Read moreRead less
Discovery Early Career Researcher Award - Grant ID: DE150100795
Funder
Australian Research Council
Funding Amount
$365,000.00
Summary
New approaches to estimating nonlinear time-varying macroeconometric models. Quantitative models are essential for formulating good policies. In a changing world, the analysis should be based on models that allow the behaviour of the economy to change over time. Due to computational limitations, however, one is often restricted to linear models, even when nonlinear ones are more appropriate. This project aims to develop new methods for estimating time-varying nonlinear models. Two important appl ....New approaches to estimating nonlinear time-varying macroeconometric models. Quantitative models are essential for formulating good policies. In a changing world, the analysis should be based on models that allow the behaviour of the economy to change over time. Due to computational limitations, however, one is often restricted to linear models, even when nonlinear ones are more appropriate. This project aims to develop new methods for estimating time-varying nonlinear models. Two important applications are also considered: one investigates how the zero lower bound on interest rates affects the monetary policy transmission mechanism; and, the other examines how uncertainties about monetary and fiscal policy affect economic growth and inflation. This project will have strong practical significance for conducting macroeconomic policy.Read moreRead less
Measuring inflation expectations and inflation expectations uncertainty. This project aims to construct model-based measures of inflation expectations and inflation expectations uncertainty. Inflation expectations can determine economic outcomes. This project will develop non-linear time-varying models to combine information from noisy and possibly biased measures of inflation expectations from surveys and financial markets. These model-based measures are expected to be better calibrated and to ....Measuring inflation expectations and inflation expectations uncertainty. This project aims to construct model-based measures of inflation expectations and inflation expectations uncertainty. Inflation expectations can determine economic outcomes. This project will develop non-linear time-varying models to combine information from noisy and possibly biased measures of inflation expectations from surveys and financial markets. These model-based measures are expected to be better calibrated and to provide valuable information for policymakers for formulating macroeconomic policies. They can be used to better assess the credibility of monetary policy and shed light on the causes of low inflation rate in developed economies.Read moreRead less
Assessing the national productivity impacts of chronic ill health. The project aims to address one of the biggest gaps in health and productivity research by designing a novel composite national metric that will rank lost productivity due to chronic illness The project brings together tax/transfer modelling, health modelling and epidemiological modelling specialists to develop a highly innovative microsimulation model: Health&WorkMOD to then quantify the costs of health-related productivity loss ....Assessing the national productivity impacts of chronic ill health. The project aims to address one of the biggest gaps in health and productivity research by designing a novel composite national metric that will rank lost productivity due to chronic illness The project brings together tax/transfer modelling, health modelling and epidemiological modelling specialists to develop a highly innovative microsimulation model: Health&WorkMOD to then quantify the costs of health-related productivity loss. The proposed model, an international first, will be a powerful tool to comprehensively model the cost impacts of illness and simulate policy options related to health and productivity. This will provide answers to critical policy questions for government with potential significant economic benefits.Read moreRead less
Inequality, Prosperity and the Australian Welfare State. This project aims to clarify contested understandings of Australian inequality and the role of economic and social policies in addressing policy challenges going forward. The objective of the project is to generate significantly improved knowledge of inequality in Australia using innovative approaches of data splicing, decomposition, simulation and backcasting to fill research gaps and resolve contested interpretations. We aim to provide a ....Inequality, Prosperity and the Australian Welfare State. This project aims to clarify contested understandings of Australian inequality and the role of economic and social policies in addressing policy challenges going forward. The objective of the project is to generate significantly improved knowledge of inequality in Australia using innovative approaches of data splicing, decomposition, simulation and backcasting to fill research gaps and resolve contested interpretations. We aim to provide a benchmark and robust framework against which policy development after the current crisis can be evaluated. This project aims to provide significant benefits, keeping Australia at the forefront of research on inequality and public policy, strengthening links between researchers and policy makers.
Read moreRead less
Resolving patients' complaints about hospitals: Responsive regulation by health ombudsmen. Ombudsmen help ensure integrity and accountability in societal institutions. This study of patients' complaints about hospitals to health ombudsmen in two states, and the responses of hospitals, will produce evidence on strategies for making hospitals more responsive to the public and more accountable for the quality of their care. Australia was a world leader in establishing health ombudsmen and this stud ....Resolving patients' complaints about hospitals: Responsive regulation by health ombudsmen. Ombudsmen help ensure integrity and accountability in societal institutions. This study of patients' complaints about hospitals to health ombudsmen in two states, and the responses of hospitals, will produce evidence on strategies for making hospitals more responsive to the public and more accountable for the quality of their care. Australia was a world leader in establishing health ombudsmen and this study will explore their impact upon the hospital system. Evidence-based strategies are needed to improve the accountability of service providers and regulators. Social and economic benefits flow from empowering patients and from improving hospital performance.Read moreRead less
Linkage Infrastructure, Equipment And Facilities - Grant ID: LE160100221
Funder
Australian Research Council
Funding Amount
$367,000.00
Summary
Linked Data PolicyHub Stage II: Urban & Regional Planning & Communications. Linked data policy hub stage II: urban and regional planning and communications:
This project aims to build on existing investments in open access knowledge infrastructure to develop collections of policy documentation and data and new tools for problem solving and analysis. Australia's ability to respond effectively to future economic, social and environmental challenges depends on our national capacity to develop and ....Linked Data PolicyHub Stage II: Urban & Regional Planning & Communications. Linked data policy hub stage II: urban and regional planning and communications:
This project aims to build on existing investments in open access knowledge infrastructure to develop collections of policy documentation and data and new tools for problem solving and analysis. Australia's ability to respond effectively to future economic, social and environmental challenges depends on our national capacity to develop and implement efficient and effective public policy. By enabling efficient universal access to historical and archived policy material, the project aims to provide critical research infrastructure that supports innovative approaches to Australian public policy research. This is expected to affect areas such as urban and regional community development and sustainability, planning and design of built and natural environments, infrastructure development, communications, and social and economic innovation.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