The Role of the Family in Facilitating the Human Capital and Labour Market Investments of Young Australians. A nation's future lies in its young people, and society as a whole must take part in ensuring that today's youth acquire the skills, experience, and training necessary not only to cope, but to thrive. The proposed research will make a substantial step forward in understanding how families make decisions about supporting their young adult children and how those decisions are shaped by Aust ....The Role of the Family in Facilitating the Human Capital and Labour Market Investments of Young Australians. A nation's future lies in its young people, and society as a whole must take part in ensuring that today's youth acquire the skills, experience, and training necessary not only to cope, but to thrive. The proposed research will make a substantial step forward in understanding how families make decisions about supporting their young adult children and how those decisions are shaped by Australian social policy. The findings will inform social policy development by providing evidence on pressing issues such as the effects of rising house prices or weakening labour markets on young Australians' ability to invest in education.Read moreRead less
How do company announcements affect trading frequency in stocks? This project addresses the question of how financial markets respond to news by investigating how company announcements affect trading patterns in Australian banking stocks. Analysis will be based on new extensions to autoregressive conditional hazard (ACH) models, with research focussing on how to incorporate announcement variables into an ACH framework and how to modify standard ACH analysis to account for simultaneous transactio ....How do company announcements affect trading frequency in stocks? This project addresses the question of how financial markets respond to news by investigating how company announcements affect trading patterns in Australian banking stocks. Analysis will be based on new extensions to autoregressive conditional hazard (ACH) models, with research focussing on how to incorporate announcement variables into an ACH framework and how to modify standard ACH analysis to account for simultaneous transactions, market frictions and spillover effects. The results of this research will assist government and companies in choosing announcement times, aid traders in portfolio adjustment and will lead to a better understanding of the microstructure of Australian stock markets.Read moreRead less
The Structure of Moral Reasoning: Hume, Kant and the Evidence from Psychopathology and Neuroscience. What can moral philosophers hope to learn from the sciences of the mind? Recent work on the disorders of autism and psychopathy, has promised to reshape a longstanding philosophical debate between Kantians and Humeans on the role of empathy (sympathy) in moral thinking. This project will draw out the implications of a range of neuroscientific findings for key questions in moral theory and also co ....The Structure of Moral Reasoning: Hume, Kant and the Evidence from Psychopathology and Neuroscience. What can moral philosophers hope to learn from the sciences of the mind? Recent work on the disorders of autism and psychopathy, has promised to reshape a longstanding philosophical debate between Kantians and Humeans on the role of empathy (sympathy) in moral thinking. This project will draw out the implications of a range of neuroscientific findings for key questions in moral theory and also consider how the normative and conceptual claims made by such theories, about what must be true of a moral judgment, are connected to descriptive claims about the psychology of the moral agents who make them.Read moreRead less
Policy-Related Lessons from the Econometric Analysis of Life Satisfaction Data in Australia. Our analyses will provide important information to policy-makers aiming to design policies that improve Australia's economic and social fabric. In particular, we will inform on the response of Australians to major life-events such as unemployment, ill-health or marital dissolution, but also exogenous shocks including drought and terrorism. Major focus will be on differentiating the determinants of life s ....Policy-Related Lessons from the Econometric Analysis of Life Satisfaction Data in Australia. Our analyses will provide important information to policy-makers aiming to design policies that improve Australia's economic and social fabric. In particular, we will inform on the response of Australians to major life-events such as unemployment, ill-health or marital dissolution, but also exogenous shocks including drought and terrorism. Major focus will be on differentiating the determinants of life satisfaction between rural and urban communities in Australia, and investigating the response of these communities to drought conditions. Moreover, we believe that a detailed international comparison using German and UK data will provide unique evidence on the relative quality of life in Australia and the role of culture and institutions. Read moreRead less
Australia's Resilience to Recession. This project aims to study why Australia differs from its OECD peers in that it has not had a recession for 27 years. It intends to generate knowledge by using economic models to solve 3 puzzles relating to Australia’s success: (i) why did foreign financial market shocks not spill over to the economy?; (ii) how has the resource curse that affects economies with a booming resource sector been avoided?; and (iii) what makes Australia special? Expected outcomes ....Australia's Resilience to Recession. This project aims to study why Australia differs from its OECD peers in that it has not had a recession for 27 years. It intends to generate knowledge by using economic models to solve 3 puzzles relating to Australia’s success: (i) why did foreign financial market shocks not spill over to the economy?; (ii) how has the resource curse that affects economies with a booming resource sector been avoided?; and (iii) what makes Australia special? Expected outcomes include the development of theoretical and empirical models that reflect the unique features of the Australian economy. This should provide significant benefits, including guidance to Australian and international policymakers on macroeconomic policies for resource-rich countries.Read moreRead less
Inference in partially non-stationary time series models. Economic theories typically specify the long-run relationship between economic variables. However, researchers usually examine the long-run features of the data by fitting a restrictive class of models using criteria that have only proven useful for short-term forecasting. In this project we consider alternative models and modelling strategies that are appropriate for the study of the long-run. We also develop computer intensive (bootstra ....Inference in partially non-stationary time series models. Economic theories typically specify the long-run relationship between economic variables. However, researchers usually examine the long-run features of the data by fitting a restrictive class of models using criteria that have only proven useful for short-term forecasting. In this project we consider alternative models and modelling strategies that are appropriate for the study of the long-run. We also develop computer intensive (bootstrap) methods, which will provide a much-needed improvement over the existing (asymptotic) methods for making inference about the long-run. Our research will lead to more reliable models for long-term planning in business, industry and government.Read moreRead less
Vector ARMA Models and Macroeconomic Modelling: Some New Methodology and Algorithms. Economic variables are strongly related to each other, as well as being strongly related to their recent history. As a result, good dynamic multivariate models are crucial for effective policy making and forecasting in areas of vital national importance such as monetary and fiscal policy, environmental policy and tourism. Our project advances the frontiers of knowledge in multivariate time series modelling. The ....Vector ARMA Models and Macroeconomic Modelling: Some New Methodology and Algorithms. Economic variables are strongly related to each other, as well as being strongly related to their recent history. As a result, good dynamic multivariate models are crucial for effective policy making and forecasting in areas of vital national importance such as monetary and fiscal policy, environmental policy and tourism. Our project advances the frontiers of knowledge in multivariate time series modelling. The outcome of this project will be immediately useful for macroeconomic policy makers such as the Reserve Bank of Australia and the Treasury, and for industry bodies such as Tourism Australia. Read moreRead less
A Principled Approach to Computer Simulation of Dynamic General Equilibrium Macroeconomic Models. In the last two decades a new generation of computer-intensive
modeling techniques has risen to prominence in macroeconomics. These
methods have broad policy applications, from public finance and
reserve bank operation to analysis of long-run productivity growth,
taxation reform, unemployment, international trade policy and natural
resource conservation. The size and complexity of these model ....A Principled Approach to Computer Simulation of Dynamic General Equilibrium Macroeconomic Models. In the last two decades a new generation of computer-intensive
modeling techniques has risen to prominence in macroeconomics. These
methods have broad policy applications, from public finance and
reserve bank operation to analysis of long-run productivity growth,
taxation reform, unemployment, international trade policy and natural
resource conservation. The size and complexity of these models means
that even computer-based techniques will rely for the foreseeable
future on efficient program design to solve them. The project will
construct a comprehensive set of solution techniques and software for
this class of macroeconomic models, including detailed mathematical
analysis on accuracy of model output.Read moreRead less
So what do you do? Graduates in the Creative and Cultural Industries. This project plans to analyse national graduate employment in Australia’s creative and cultural industries, and compare the utility of 'creative' and 'cultural' models for tracking employment outcomes. Although the image of work in the creative and cultural industries is attractive to students and course planners alike, international evidence suggests graduates face very poor employment prospects. The project plans to use a pr ....So what do you do? Graduates in the Creative and Cultural Industries. This project plans to analyse national graduate employment in Australia’s creative and cultural industries, and compare the utility of 'creative' and 'cultural' models for tracking employment outcomes. Although the image of work in the creative and cultural industries is attractive to students and course planners alike, international evidence suggests graduates face very poor employment prospects. The project plans to use a proven model for mapping creative graduates to compare the value of creative degrees for the creative workforce in two nations, Australia and the United Kingdom; and to use sophisticated quantitative analysis of national datasets and interviews to produce a comprehensive study of creative graduate work.Read moreRead less
Rich Cousin, Poor Cousin - What Controls the Formation and Size of Orogenic Gold Deposits? What are the geological and geochemical factors that control the formation and size of gold deposits in Phanerozoic mountain belts (?orogens?)? The answer to this question lies in a combination of methods we will use to establish the importance of source, absolute timing of mineralisation, genetic links to magmas, and geochemical processes that result in the transport, and deposition of gold in three separ ....Rich Cousin, Poor Cousin - What Controls the Formation and Size of Orogenic Gold Deposits? What are the geological and geochemical factors that control the formation and size of gold deposits in Phanerozoic mountain belts (?orogens?)? The answer to this question lies in a combination of methods we will use to establish the importance of source, absolute timing of mineralisation, genetic links to magmas, and geochemical processes that result in the transport, and deposition of gold in three separate, geologically young orogens. The wider implications of this research include a greatly improved understanding of lesser known Phanerozoic orogenic gold provinces, ore genesis at convergent plate margins, and the formation of gold deposits in older terrains.Read moreRead less