Growth, Trade, and Economic Development in Asia. Future growth in Asia has strong implications for growth, relative wages, skill levels, human capital accumulation and trade in Australia. This project seeks to gain insight into whether the high economic growth rates experienced in Asia will continue into the future and whether low income Asian countries will take off in the future. This information will be used to simulate future demand for skills, relative wages, trade and the incentives to inv ....Growth, Trade, and Economic Development in Asia. Future growth in Asia has strong implications for growth, relative wages, skill levels, human capital accumulation and trade in Australia. This project seeks to gain insight into whether the high economic growth rates experienced in Asia will continue into the future and whether low income Asian countries will take off in the future. This information will be used to simulate future demand for skills, relative wages, trade and the incentives to invest in Australia and give insight into the effects of various policies in Australia on educational decision, skill composition, relative wages, trade and growth.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
Evaluating the sources of growth and decline in Australia's State economies via historical/decomposition simulations with a dynamic multiregional fiscal model. Australia's State economies have experienced wide disparities in economic growth rates. Little research has been undertaken on the underlying forces responsible for this. Nevertheless, State and Commonwealth governments spend several $billion annually on policies with the ostensible aim of promoting State growth. Disparities in growth ....Evaluating the sources of growth and decline in Australia's State economies via historical/decomposition simulations with a dynamic multiregional fiscal model. Australia's State economies have experienced wide disparities in economic growth rates. Little research has been undertaken on the underlying forces responsible for this. Nevertheless, State and Commonwealth governments spend several $billion annually on policies with the ostensible aim of promoting State growth. Disparities in growth rates also contribute to potentially costly movements in population, and (by promoting perceptions of unequal outcomes from policy change) may hinder the inter-government cooperation required for many beneficial policy changes. This project aims to develop a dynamic 8-region CGE model of Australia, and use it to investigate the causes of relative state economic performance.Read moreRead less
Policy Notes: Local Popular Music in Global Creative Economies. In providing the first comprehensive analysis of how music policy is created, the project assesses the viability of local music industries in a time of rapid, global technological change. It forges new ways of planning the different needs of producers, audiences and government in cultural production; and contribute to the economic and cultural health of Australian popular music industries. The project fills a major gap in Australian ....Policy Notes: Local Popular Music in Global Creative Economies. In providing the first comprehensive analysis of how music policy is created, the project assesses the viability of local music industries in a time of rapid, global technological change. It forges new ways of planning the different needs of producers, audiences and government in cultural production; and contribute to the economic and cultural health of Australian popular music industries. The project fills a major gap in Australian and international cultural policy studies in relation to the effectiveness of popular music policy and practice, particularly for industries situated outside the predominant centres of music production in Europe, the U.S. and Asia.Read moreRead less
The high cost of financial insecurity: exploring the role of the 'fringe economy' in the lives of low-income Australians. The national benefit from this research has a number of dimensions. The first is to draw the community's attention to the high costs and charges associated with fringe lenders in Australia and the economic and social consequences of accessing these services. The second benefit relates to establishing what sorts of financial products and regulatory measures would offer low-inc ....The high cost of financial insecurity: exploring the role of the 'fringe economy' in the lives of low-income Australians. The national benefit from this research has a number of dimensions. The first is to draw the community's attention to the high costs and charges associated with fringe lenders in Australia and the economic and social consequences of accessing these services. The second benefit relates to establishing what sorts of financial products and regulatory measures would offer low-income Australians a better outcome. A number of states in Australia have recently introduced legislation to limit the interest rates charged by pay-day lenders. The study is very timely in that it offers an opportunity to monitor the impact of these new regulatory measures and consider opportunities for further reform.Read moreRead less
Harm-minimisation policies and the economics of controlling illicit drug use. The use of illicit drugs and its consequences are of major concern in Australia. Policies seeking to directly curb illicit drug use have met with mixed success and, over time, pressure has been placed on policymakers to switch toward increased reliance on harm-minimisation policies. This switch can generate adverse incentive effects by reducing the user costs of illicit drug use which acts to increase illicit drug use. ....Harm-minimisation policies and the economics of controlling illicit drug use. The use of illicit drugs and its consequences are of major concern in Australia. Policies seeking to directly curb illicit drug use have met with mixed success and, over time, pressure has been placed on policymakers to switch toward increased reliance on harm-minimisation policies. This switch can generate adverse incentive effects by reducing the user costs of illicit drug use which acts to increase illicit drug use. Cost-effectively mitigating these adverse incentive effects can improve the effectiveness of policy by promoting harm- minimisation without seriously sacrificing drug use abstinence objectives. Read moreRead less
Network dynamics and field evolution: hubs, clusters and interorganisational ties in biotechnology. The study will support a robust biotechnology industry in Australia, which delivers economy-wide benefits and provides employment for local life scientists. Although Australia has a long history of innovation and achievement in the life sciences, commercial benefits in the field have often been harvested elsewhere. Australian governments are making substantial investments in biotechnology, includi ....Network dynamics and field evolution: hubs, clusters and interorganisational ties in biotechnology. The study will support a robust biotechnology industry in Australia, which delivers economy-wide benefits and provides employment for local life scientists. Although Australia has a long history of innovation and achievement in the life sciences, commercial benefits in the field have often been harvested elsewhere. Australian governments are making substantial investments in biotechnology, including education and training, directed towards developing the local industry. The proposed study will make these investments more informed, facilitating fine-grained development of public policy and industry strategy.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
What are the determinants and effects of school choice? An international comparison between Australia and the UK. The project will provide a clearer picture of the determinants of school choice, most notably the impact of economic phenomena on that choice. For Australia, this will mean we have a better understanding of the competing explanations of the growth of students at private schools over the past three decades: the role of government subsidies; the role of demographic changes; the effec ....What are the determinants and effects of school choice? An international comparison between Australia and the UK. The project will provide a clearer picture of the determinants of school choice, most notably the impact of economic phenomena on that choice. For Australia, this will mean we have a better understanding of the competing explanations of the growth of students at private schools over the past three decades: the role of government subsidies; the role of demographic changes; the effects of increased income inequality; and the role of changes in preferences towards private schools. This information will provide a better evidence base for future policy development in this area.Read moreRead less
Evaluating Research Policy in Australian Broadacre Agriculture - Accounting for Interactions between the Beef, Sheep Meat, Wool, and Grains Industries. This project studies the returns from R&D investments in Australia's broadacre agricultural industries and equity in the funding of these investments. The contribution is to explicitly recognise the interaction across cattle, sheep and cropping enterprises, while past analyses have been single industry approach. Econometric models of multi-output ....Evaluating Research Policy in Australian Broadacre Agriculture - Accounting for Interactions between the Beef, Sheep Meat, Wool, and Grains Industries. This project studies the returns from R&D investments in Australia's broadacre agricultural industries and equity in the funding of these investments. The contribution is to explicitly recognise the interaction across cattle, sheep and cropping enterprises, while past analyses have been single industry approach. Econometric models of multi-output profit function for Australian broadacre agriculture and demand systems involving these products are estimated. A multi-industry equilibrium displacement model is developed to simulate the incidence of both costs and returns of agricultural R&D, with cross-industry interaction recognised. The project is likely to contribute to the way agricultural research is administered and funded in Australia.Read moreRead less