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.
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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
Macroeconomic and Financial Modelling in an Era of Extremes. This project aims to develop methods to allow workhorse models in economics and finance to better reflect tail events--low probability extreme events, such as the Global Financial Crisis and the COVID-19 pandemic. It intends to address fundamental technical challenges in the estimation of such models, develop a coherent framework for counterfactual analysis of these models and propose methods to apply these models in a big-data environ ....Macroeconomic and Financial Modelling in an Era of Extremes. This project aims to develop methods to allow workhorse models in economics and finance to better reflect tail events--low probability extreme events, such as the Global Financial Crisis and the COVID-19 pandemic. It intends to address fundamental technical challenges in the estimation of such models, develop a coherent framework for counterfactual analysis of these models and propose methods to apply these models in a big-data environment. Expected outcomes include new insights into the transmission of tail risks in the global economic and financial system. This should provide significant benefits, including guidance to Australian and international policymakers charged with maintaining stability in the face of extreme events.Read moreRead less
Monetary policy, redistribution and endogenous asset market incompleteness. This project aims to provide a new framework for modelling agent heterogeneity and for evaluating the effects of monetary policy on aggregate welfare and wealth distribution over the business cycle. This project will focus on monetary policy, using new quantitative theories with new efficient computational methods, to understand and quantify links between monetary policy the dynamics of aggregate outcomes (such as inflat ....Monetary policy, redistribution and endogenous asset market incompleteness. This project aims to provide a new framework for modelling agent heterogeneity and for evaluating the effects of monetary policy on aggregate welfare and wealth distribution over the business cycle. This project will focus on monetary policy, using new quantitative theories with new efficient computational methods, to understand and quantify links between monetary policy the dynamics of aggregate outcomes (such as inflation or employment), and the distribution of individual wealth (such as money, capital and housing).Read moreRead less
Research to enhance measurement, understanding, and policy regulatory approaches to emerging markets and trade in mothers' milk. Innovation affecting human milk supply challenges current regulation of infant food, but new markets in human milk assist the economic valuation of breastfeeding. Mothers are finding new ways to share their milk, and milk banking and human milk-based products are emerging as alternatives to commercial infant formula. This project builds on previous world-leading Austra ....Research to enhance measurement, understanding, and policy regulatory approaches to emerging markets and trade in mothers' milk. Innovation affecting human milk supply challenges current regulation of infant food, but new markets in human milk assist the economic valuation of breastfeeding. Mothers are finding new ways to share their milk, and milk banking and human milk-based products are emerging as alternatives to commercial infant formula. This project builds on previous world-leading Australian research into the economics of breastfeeding. It aims to increase understanding of markets in milk for infants and inform regulation of milk markets and milk exchange. It will investigate key features of these markets, how milk is priced, and how to access data on market prices which might improve the social and economic valuation of breastfeeding.Read moreRead less
Automation and Income Inequality: Macroeconomic Policy Implications. The transition to wider use of robotics and artificial intelligence may eventually make our citizens better off, yet effects on domestic income and wealth inequality remain uncertain, depending strongly on general governance and macroeconomic policy regimes. This project would help clarify income inequality effects, both abroad and in Australia, through (i) new numerical theory from calibrated economic models at the global and ....Automation and Income Inequality: Macroeconomic Policy Implications. The transition to wider use of robotics and artificial intelligence may eventually make our citizens better off, yet effects on domestic income and wealth inequality remain uncertain, depending strongly on general governance and macroeconomic policy regimes. This project would help clarify income inequality effects, both abroad and in Australia, through (i) new numerical theory from calibrated economic models at the global and national levels; (ii) econometric testing of results from global and national data; (iii) the use of emerging insights to analyse economic policy responses and their global interaction as well as the implications for Australian economic policyRead 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
Lifetime Approach to Measuring Inequality in Living Standards in Australia . This project aims to develop a new methodology to study trends in inequality in Australia. It expects to advance the body of knowledge by measuring inequality in living standards over the whole lifetime and by identifying the role of the Australian fiscal system in redistributing lifetime resources across households and generations. This new approach would help clarify the potential bias embedded in commonly used inequa ....Lifetime Approach to Measuring Inequality in Living Standards in Australia . This project aims to develop a new methodology to study trends in inequality in Australia. It expects to advance the body of knowledge by measuring inequality in living standards over the whole lifetime and by identifying the role of the Australian fiscal system in redistributing lifetime resources across households and generations. This new approach would help clarify the potential bias embedded in commonly used inequality indicators based on current-year income. Its findings expect to provide new insights into how the gains from economic growth have been shared among Australians. It should also offer policy options for designing a better tax and transfer system that would sustain economic prosperity and fairness in Australia.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.
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COVID-19, health and labour market marginalisation . This project aims to investigate the impact of the COVID-19 pandemic on labour market marginalisation in Australia. It seeks to generate new insights about whether the global economic shock had a disproportionately negative effect on the employment circumstances of working-age Australians with mental health and musculoskeletal/pain conditions, which are the leading causes of disability in Australia. The expected outcomes of this project includ ....COVID-19, health and labour market marginalisation . This project aims to investigate the impact of the COVID-19 pandemic on labour market marginalisation in Australia. It seeks to generate new insights about whether the global economic shock had a disproportionately negative effect on the employment circumstances of working-age Australians with mental health and musculoskeletal/pain conditions, which are the leading causes of disability in Australia. The expected outcomes of this project include improved policy responses to direct effective support and assistance to those with the greatest need, and new resources for the research community. This should lead to significant benefits through reduced inequalities and improved social, economic and workforce outcomes for vulnerable Australians.Read moreRead less