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
Unraveling ocean mixing and air-sea forcing along the Indo-Pacific exchange. This project aims to collect unprecedented observations and develop high resolution model simulations to examine changes in the Indonesian Throughflow (ITF) north of Australia. This project expects to develop new knowledge of ocean-atmosphere interactions along the path of the ITF from the Pacific to the Indian Ocean, which are the powerhouse that drives changes in winds and rainfall around Australia and the entire Indo ....Unraveling ocean mixing and air-sea forcing along the Indo-Pacific exchange. This project aims to collect unprecedented observations and develop high resolution model simulations to examine changes in the Indonesian Throughflow (ITF) north of Australia. This project expects to develop new knowledge of ocean-atmosphere interactions along the path of the ITF from the Pacific to the Indian Ocean, which are the powerhouse that drives changes in winds and rainfall around Australia and the entire Indo-Pacific region. Expected outcomes include a 1000-fold increase in the observations of mixing in the Indonesian seas and new understanding of the ocean-atmosphere processes that control water property change along the ITF. This should lead to strong improvement in the skill of climate forecast models in the Australian region.Read moreRead less
Coupling tropical cyclone and climate physics with ocean waves. It is argued that without accounting for the wave effects directly, the physics of large-scale air-sea interactions is inaccurate and incomplete. The project will introduce explicit coupling of large-scale atmospheric and oceanic phenomena with the physics of surface waves which should lead to improved predictions of tropical cyclones and climate.
Cloudiness over the Southern Ocean: reducing a key knowledge gap and source of climate model uncertainty. Southern Ocean clouds are key ingredients of the global climate system and yet are only poorly understood and poorly represented in climate models. Through the use of advanced observational analysis techniques this research will provide a deep understanding of key Southern Ocean cloud regimes and improve their representation in models.
Unsaturation of vapour pressure inside leaves: fundamental, but unknown. This project aims to determine when and to what extent the air inside leaves becomes unsaturated with water vapour. All current interpretation and modelling of leaf gas exchange assumes saturation under all circumstances. Compelling evidence has been obtained that suggests this is not true under moderate air vapour pressure deficits. A novel technique will be employed to assess the water vapour concentration of the air insi ....Unsaturation of vapour pressure inside leaves: fundamental, but unknown. This project aims to determine when and to what extent the air inside leaves becomes unsaturated with water vapour. All current interpretation and modelling of leaf gas exchange assumes saturation under all circumstances. Compelling evidence has been obtained that suggests this is not true under moderate air vapour pressure deficits. A novel technique will be employed to assess the water vapour concentration of the air inside leaves based on stable isotope analysis of carbon dioxide and water vapour exchanged between leaves and air. The project is expected to provide fundamental knowledge about how stomata regulate photosynthesis and water use, with significant implications for modelling vegetation function and for improving the performance of crop plants.Read moreRead less
Global trends in oceanic wind speed and wave height. This project will determine whether winds and waves over the world's oceans have changed over the past 30 years. Such information is critically important in understanding global climate change, evaporation, air-sea interaction and to safely design and operate coastal and offshore facilities.
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
Discovery Early Career Researcher Award - Grant ID: DE180100087
Funder
Australian Research Council
Funding Amount
$328,075.00
Summary
Internal wave breaking and mixing in the ocean. This project aims to quantify turbulent mixing in the ocean using ultra-high-resolution numerical modelling. Turbulent mixing is caused by internal waves which transport energy from the ocean boundaries into the interior, where they drive mixing of cold, deep water with warmer water above. This mixing is crucial to the ocean circulation which controls the storage of heat and carbon in the ocean, but is inadequately represented in current climate mo ....Internal wave breaking and mixing in the ocean. This project aims to quantify turbulent mixing in the ocean using ultra-high-resolution numerical modelling. Turbulent mixing is caused by internal waves which transport energy from the ocean boundaries into the interior, where they drive mixing of cold, deep water with warmer water above. This mixing is crucial to the ocean circulation which controls the storage of heat and carbon in the ocean, but is inadequately represented in current climate models. The anticipated outcome of the project is an enhanced, global-ocean model incorporating an accurate description of turbulent mixing. This should provide significant benefits to the Australian community by improving the accuracy of future climate predictions.Read moreRead less
International linkages between financial and real economy cycles. This project will develop empirical multivariate models of business cycles for different countries, and will study how they are linked via international financial markets. The significance of the project is that the models will integrate previous work done on financial-real economy links in single country settings, and it will explicitly study the effects of disequilibrium in international financial markets (such as overvaluation ....International linkages between financial and real economy cycles. This project will develop empirical multivariate models of business cycles for different countries, and will study how they are linked via international financial markets. The significance of the project is that the models will integrate previous work done on financial-real economy links in single country settings, and it will explicitly study the effects of disequilibrium in international financial markets (such as overvaluation of foreign currency) on individual economies. The project will determine the appropriate domestic monetary policy response to such shocks, and the potential for forecasting both the advent of such shocks and their impact on individual economies.Read moreRead less