Risk Measures and Management in Finance and Actuarial Science Under Regime-Switching Models. New models for assessing and managing risk of financial products will place Australia at the forefront of risk management. The work will also sustain the competitive edge of Australia as one of the major financial centres in the Asia-Pacific region through enhancing both the theory and practice of financial risk management. The project outcome will also benefit to the country in other areas of risk, for ....Risk Measures and Management in Finance and Actuarial Science Under Regime-Switching Models. New models for assessing and managing risk of financial products will place Australia at the forefront of risk management. The work will also sustain the competitive edge of Australia as one of the major financial centres in the Asia-Pacific region through enhancing both the theory and practice of financial risk management. The project outcome will also benefit to the country in other areas of risk, for example, environment risk, climate change, and energy and security problems.Read moreRead less
Dynamic risk measures. Exposure to risk is a pervasive problem. The results will be of importance for financial institutions when they estimate their exposure to risk. Other applications will be to determine the level of risk from a terrorist attack or regional instability. Companies wish to allocate resources to minimize their exposure to adverse events.
Increasing internet energy and cost efficiency by improving higher-layer protocols. Australians rely heavily on our telecommunications infrastructure due to our geographic dispersion. We are also very susceptible to climate change, given our reliance on agriculture. Information technology is consuming a rapidly increasing fraction of our power and our budget. This research will help to reverse both those trends, by finding novel and practical ways to use our infrastructure more efficiently, and ....Increasing internet energy and cost efficiency by improving higher-layer protocols. Australians rely heavily on our telecommunications infrastructure due to our geographic dispersion. We are also very susceptible to climate change, given our reliance on agriculture. Information technology is consuming a rapidly increasing fraction of our power and our budget. This research will help to reverse both those trends, by finding novel and practical ways to use our infrastructure more efficiently, and to minimise its energy use. This will enable the Australian telecommunications industry to provide better service (including to Australian industries and rural communities) at lower economic and environmental cost. This project will put Australia on the international stage as a leading contributor to energy-efficient internet technology.Read moreRead less
Plantwide Control of Modern Chemical Processes from a Network Perspective. Complex plants increasingly appear in modern Australian process industries, particularly in mineral processing, petrochemical and renewable energies sectors. These plants represent vast capital costs and manufacture products at a very large scale. Improvement in control and operation of these processes can potentially provide significant economic benefits. The expected outcome of this research is an effective approach to ....Plantwide Control of Modern Chemical Processes from a Network Perspective. Complex plants increasingly appear in modern Australian process industries, particularly in mineral processing, petrochemical and renewable energies sectors. These plants represent vast capital costs and manufacture products at a very large scale. Improvement in control and operation of these processes can potentially provide significant economic benefits. The expected outcome of this research is an effective approach to improve operational safety, efficiency, product quality and manufacturing flexibility, helping to build a more efficient and environmental conscious Australian chemical industry. This project will also enhance Australia's scientific reputation in the frontier research area of advanced process control and management.Read moreRead less
Dynamic Controllability Analysis for Plantwide Process Design and Control. World-wide chemical plants represent many billions of dollars of investment. Improvements to the process designs in terms of controllability would have the potential to provide large economic benefits, as it implies improved productivity, reduced operating costs and product variability. This proposed research will be a step towards integration of process design and control, which has been widely recognized as the key to t ....Dynamic Controllability Analysis for Plantwide Process Design and Control. World-wide chemical plants represent many billions of dollars of investment. Improvements to the process designs in terms of controllability would have the potential to provide large economic benefits, as it implies improved productivity, reduced operating costs and product variability. This proposed research will be a step towards integration of process design and control, which has been widely recognized as the key to this improvement. The outcomes from this project may be readily implemented in process design practice, and therefore have a direct impact to the Australian and world-wide process industries, helping to build a more efficient and environmental conscious Australian process industries.Read moreRead less
Investment Approaches and Applications in Financial Markets: Evolutionary Kernel Based Subset Time-Series Using Semi-Parametric Approaches. The project will develop new investment assessments based on subset time-series modeling. Innovative evolutionary kernel smoothing algorithms using semi-parametric approaches will be introduced. The project will make three important applications of this modeling in financial markets: a) benchmarking and evaluation of inflation-indexed bonds; b) evaluation of ....Investment Approaches and Applications in Financial Markets: Evolutionary Kernel Based Subset Time-Series Using Semi-Parametric Approaches. The project will develop new investment assessments based on subset time-series modeling. Innovative evolutionary kernel smoothing algorithms using semi-parametric approaches will be introduced. The project will make three important applications of this modeling in financial markets: a) benchmarking and evaluation of inflation-indexed bonds; b) evaluation of the performance of global diversified investment funds; and c) prediction to provide early warning of the emergence of destabilising deflation or inflation. These three applications will lead to improved risk management practices and investment performance. Recursive algorithms will provide new statistical methods to study investment asset price movements and market volatility.
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The improvement of climate change investigations by developing and applying innovative evolutionary subset time series modelling using semi-parametric sparse-patterned approaches. With an estimated US$6.98 trillion loss indicated in the Stern review, severe climate change will make world climate conditions harsher and more likely include large natural climate disasters. The health of the Australian economy is critically dependent on decisions of environmental managers. However, most problems of ....The improvement of climate change investigations by developing and applying innovative evolutionary subset time series modelling using semi-parametric sparse-patterned approaches. With an estimated US$6.98 trillion loss indicated in the Stern review, severe climate change will make world climate conditions harsher and more likely include large natural climate disasters. The health of the Australian economy is critically dependent on decisions of environmental managers. However, most problems of complexity arising in climate change involve issues on which we do not possess a deep understanding. This project draws upon a set of inter-disciplinary concepts and models centred in neural networks that enable us to advance our understanding of complexity, leading to superior quantitative tools and models to allow for improved environmental decision-making.
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Investment approaches and opportunities in renewable energy and financial resource markets, using semi-parametric approaches to evolutionary subset time-series lattice-ladder modelling. The project findings will help Australian exporters and importers understand and manage energy and resource price risks more effectively. The investment community will benefit through selecting optimal asset allocations and enhancing value to investors. It will also benefit many other agencies, particularly in th ....Investment approaches and opportunities in renewable energy and financial resource markets, using semi-parametric approaches to evolutionary subset time-series lattice-ladder modelling. The project findings will help Australian exporters and importers understand and manage energy and resource price risks more effectively. The investment community will benefit through selecting optimal asset allocations and enhancing value to investors. It will also benefit many other agencies, particularly in the service industries. It is not well recognised that in developed countries, including Australia, the financial service and related sectors account for more than 60 percent of economic activity and employment, so it is critical that more sophisticated statistical methods be established, and practical applications conducted, in order to advance the understanding of complexity management in the financial service and related sectors.Read moreRead less
The improvement of investment approaches by developing and applying bootstrap methods to innovative evolutionary kernel-based subset time-series modelling. With over $1 trillion of investors' monies in the hands of fund managers, the importance of efficient investment decisions across all industry sectors is self evident. Even if the modest target of systematically improving decision making by 1 or 2 % is set, the aggregate economic benefit achieved, given the compounding effects will be enormou ....The improvement of investment approaches by developing and applying bootstrap methods to innovative evolutionary kernel-based subset time-series modelling. With over $1 trillion of investors' monies in the hands of fund managers, the importance of efficient investment decisions across all industry sectors is self evident. Even if the modest target of systematically improving decision making by 1 or 2 % is set, the aggregate economic benefit achieved, given the compounding effects will be enormous. Any developed or developing country will profit from such advanced decision-making approaches. Therefore it is critical that more sophisticated statistical methods be established, and practical applications conducted, in order to advance the understanding of complexity management in the financial investment and other relevant sectors.Read moreRead less
Development of Robust Control Systems for Magneto-Rheological Fluid-Based Smart Structures. Possessing the ability to withstand such destructive dynamic loading as gusty winds, fierce waves, and earthquakes, the smart structures of the future will enjoy the unprecedented safety and comfort bringing to their occupants and contents. This will directly benefit Australians. The development of the smart structure technology will also give domestic consultants the ability to compete internationally ....Development of Robust Control Systems for Magneto-Rheological Fluid-Based Smart Structures. Possessing the ability to withstand such destructive dynamic loading as gusty winds, fierce waves, and earthquakes, the smart structures of the future will enjoy the unprecedented safety and comfort bringing to their occupants and contents. This will directly benefit Australians. The development of the smart structure technology will also give domestic consultants the ability to compete internationally, resulting in obvious economic dividends and advantages benefiting Australia. Moreover, a successful effort leading to a major breakthrough of the important area of seismic protection research will have a significant impact far beyond the border of this country.Read moreRead less