Robust methods for heteroscedastic regression models for time series. What is the variability of the exchange rate of the Euro to the Australian dollar? Can the use of the electrocardiogram of a patient be improved as a diagnostic tool for heart disease? A well-known limitation of the existing statistical methods for answering these types of questions is that a small proportion of extreme observations have the potential to lead to results that are more in agreement with the outliers than with bu ....Robust methods for heteroscedastic regression models for time series. What is the variability of the exchange rate of the Euro to the Australian dollar? Can the use of the electrocardiogram of a patient be improved as a diagnostic tool for heart disease? A well-known limitation of the existing statistical methods for answering these types of questions is that a small proportion of extreme observations have the potential to lead to results that are more in agreement with the outliers than with bulk of the data. As a consequence, the statistical analyses may lead to wrong conclusions. This project aims to develop new methodologies to solve this problem for a large class of studies. Applications to stock market risk, exchange rate, and diagnosis of heart diseases will illustrate the new methods.Read moreRead less
Loss-based Bayesian Prediction. This project proposes a new paradigm for prediction. Using state-of-the-art computational methods, the project aims to produce accurate, fit for purpose, predictions which, by design, reduce the loss incurred when the prediction is inaccurate. Theoretical validation of the new predictive method, without reliance on knowledge of the correct statistical model, is an expected outcome, as is an extensive numerical assessment of its performance in empirical settings. T ....Loss-based Bayesian Prediction. This project proposes a new paradigm for prediction. Using state-of-the-art computational methods, the project aims to produce accurate, fit for purpose, predictions which, by design, reduce the loss incurred when the prediction is inaccurate. Theoretical validation of the new predictive method, without reliance on knowledge of the correct statistical model, is an expected outcome, as is an extensive numerical assessment of its performance in empirical settings. The new paradigm should produce significant benefits for all fields in which the consequences of predictive inaccuracy are severe. Problems that lead to substantial economic, financial or environmental loss if predictions are incorrect will be given particular attention.Read moreRead less
New methods for modelling complex trends in climate and energy time series. The project aims to contribute to Australian and international efforts on emission control by advancing the methods for quantifying the relationships between energy production, emission and climate, and assessing the real and financial risks associated with changing the ways in which economies produce and use energy. The project is interdisciplinary and expects to develop new knowledge in the areas of energy and climate ....New methods for modelling complex trends in climate and energy time series. The project aims to contribute to Australian and international efforts on emission control by advancing the methods for quantifying the relationships between energy production, emission and climate, and assessing the real and financial risks associated with changing the ways in which economies produce and use energy. The project is interdisciplinary and expects to develop new knowledge in the areas of energy and climate econometrics. The anticipated outcomes of this project are new methods for modelling variables with complex trends, and an innovative data-driven approach for learning from policy experiences of other countries. This should provide significant benefits by enabling evidence-based policy making in the era of climate change. Read moreRead less
Deep ocean thermodynamics and climate change. This project aims to obtain new insights into the thermodynamic and transport properties of mixtures containing water, particularly at high pressures, that impact directly on our understanding of climate change processes. The project will involve the use of a polarisable potential for water which has recently been demonstrated to yield predictions of high accuracy. It will be used to model saline water mixtures containing carbon dioxide, resulting in ....Deep ocean thermodynamics and climate change. This project aims to obtain new insights into the thermodynamic and transport properties of mixtures containing water, particularly at high pressures, that impact directly on our understanding of climate change processes. The project will involve the use of a polarisable potential for water which has recently been demonstrated to yield predictions of high accuracy. It will be used to model saline water mixtures containing carbon dioxide, resulting in valuable data for thermodynamic properties of the world's oceans. These data are of crucial importance for accurate climate change predictions and as such the project will have an important impact on understanding our changing environment.Read moreRead less
Prior sensitivity analysis for Bayesian Markov chain Monte Carlo output. This project aims to develop the first set of techniques to implement an automated output sensitivity analysis for Markov Chain Monte Carlo (MCMC) estimation methods. Computationally intense Bayesian MCMC provide a powerful alternative to classical methods for the estimation of economic models. An obstacle to their wider application is that researchers need to specify prior beliefs about model parameters that will affect t ....Prior sensitivity analysis for Bayesian Markov chain Monte Carlo output. This project aims to develop the first set of techniques to implement an automated output sensitivity analysis for Markov Chain Monte Carlo (MCMC) estimation methods. Computationally intense Bayesian MCMC provide a powerful alternative to classical methods for the estimation of economic models. An obstacle to their wider application is that researchers need to specify prior beliefs about model parameters that will affect the results. The expected outcomes will enable researchers to undertake a routine assessment of the sensitivity of the results to prior inputs.Read moreRead less
Molecular design of complex lubricants to reduce friction. We will investigate the molecular level design of friction modifiers for a new generation of industrial lubricants. The goal is to dramatically reduce friction between moving mechanical parts, hence increasing energy efficiency in machines and reducing global greenhouse gas emissions. We will design and test these new friction modifiers by a combination of theoretical and computational methods based in statistical mechanics and nonequili ....Molecular design of complex lubricants to reduce friction. We will investigate the molecular level design of friction modifiers for a new generation of industrial lubricants. The goal is to dramatically reduce friction between moving mechanical parts, hence increasing energy efficiency in machines and reducing global greenhouse gas emissions. We will design and test these new friction modifiers by a combination of theoretical and computational methods based in statistical mechanics and nonequilibrium molecular dynamics and directly compare results with experimental measurements. Our investigations will pave the way to develop new cost-effective friction modifiers without the need for traditional and costly trial and error laboratory based experimentation.Read moreRead less
Identification Power and Instrument Strength in Discrete Outcome Models. This project aims to develop new econometric and statistical techniques to quantify causal effects in treatment models with discrete outcomes. Expected outcomes include a much-needed weak instrument test, a measure for identification strength in partial identification setting, and an instrument-covariate selection procedure for high dimensional discrete models based identification power. The benefits include advanced knowle ....Identification Power and Instrument Strength in Discrete Outcome Models. This project aims to develop new econometric and statistical techniques to quantify causal effects in treatment models with discrete outcomes. Expected outcomes include a much-needed weak instrument test, a measure for identification strength in partial identification setting, and an instrument-covariate selection procedure for high dimensional discrete models based identification power. The benefits include advanced knowledge in econometrics and statistics, and enhanced tools for program evaluation and policy assessment in empirical causal analysis using observational data. The project falls into the category of smarter information use and is relevant to any national priority areas where policy interventions require assessment.Read moreRead less
Econometric methods for distributional policy effects. This project aims to develop new econometric methods that can measure distributional policy effects by accounting for heterogeneous policy impacts among observationally equivalent individuals. The project expects to develop quantile regression methods under a difference-in-differences framework that accommodates issues of censoring and sample selection. The outcomes of this project are expected to substantially broaden the scope of the stand ....Econometric methods for distributional policy effects. This project aims to develop new econometric methods that can measure distributional policy effects by accounting for heterogeneous policy impacts among observationally equivalent individuals. The project expects to develop quantile regression methods under a difference-in-differences framework that accommodates issues of censoring and sample selection. The outcomes of this project are expected to substantially broaden the scope of the standard mean difference-in-differences approach and have significant contributions to empirical studies in the future. The project intends to provide statistically valid inferential procedures and conduct simulation exercise and empirical studies relevant to policy evaluation for the benefit of Australia and other jurisdictions.Read moreRead less
Transformative simulation techniques for complex polymer networks. The study of long chain polymers like DNA using computer simulations has uncovered exciting insights over many years. Generally these have been limited to simple topologies, interactions, and environments. This project aims to develop the next generation of simulation techniques to tackle a new frontier of polymer models, including those with complex topologies like stars, knots, and links, which have hitherto been inaccessible. ....Transformative simulation techniques for complex polymer networks. The study of long chain polymers like DNA using computer simulations has uncovered exciting insights over many years. Generally these have been limited to simple topologies, interactions, and environments. This project aims to develop the next generation of simulation techniques to tackle a new frontier of polymer models, including those with complex topologies like stars, knots, and links, which have hitherto been inaccessible. Expected outcomes include new simulation methods which harness modern computational clusters, leading to greater understanding of polymers with complex topologies and in complicated environments. Important elements of biological processes may be discovered, such as how polymer structure affects DNA transcription.Read moreRead less
The weather-climate connection in Australian climate change. This project aims to uncover the key links in Australia's weather-climate connection by identifying the role weather features play in influencing the slowly varying climate and how changes in one might affect changes in the other. Better describing the two-way connection between weather and climate through an innovative combination of research techniques usually applied to only one of weather or climate will allow for a more insightful ....The weather-climate connection in Australian climate change. This project aims to uncover the key links in Australia's weather-climate connection by identifying the role weather features play in influencing the slowly varying climate and how changes in one might affect changes in the other. Better describing the two-way connection between weather and climate through an innovative combination of research techniques usually applied to only one of weather or climate will allow for a more insightful assessment of climate model quality. This assessment will support the identification of the most reliable climate models and, by using them, reduce uncertainties in future predictions. Improved predictions of climate in turn will enable better decision making in all sectors of society.Read moreRead less