Does Australian Corporate Taxation Matter? On a GDP-weighted basis the average OECD corporate rate has fallen from 44 percent in 1985 to 31 percent in 2004. Australia operates a flat thirty percent corporate tax rate and this compares well with the current OECD average. Yet, the Business Council of Australia argues that the Australian corporate tax rate is 'uncompetitive'. Certainly, the corporate tax burden (i.e. corporate tax revenue as a proportion of GDP) is very high in Australia, the thi ....Does Australian Corporate Taxation Matter? On a GDP-weighted basis the average OECD corporate rate has fallen from 44 percent in 1985 to 31 percent in 2004. Australia operates a flat thirty percent corporate tax rate and this compares well with the current OECD average. Yet, the Business Council of Australia argues that the Australian corporate tax rate is 'uncompetitive'. Certainly, the corporate tax burden (i.e. corporate tax revenue as a proportion of GDP) is very high in Australia, the third highest in the OECD, and the highest in the Asia-Pacific region. This project will evaluate the extent that the corporate tax burden is a hinderance to Australian firms and economic behaviour. Read moreRead less
Effects on Labour Supply, Savings and Welfare of the July 2007 Policy Changes to Superannuation and the Age Pension. This proposal's central question falls within the priority goal of 'Strengthening Australia's social and economic fabric'. Understanding the effects of alternative superannuation tax arrangements is crucial in view of concerns regarding aggregate private savings and labour force participation in an ageing economy. Low savings or participation could have implications for sustained ....Effects on Labour Supply, Savings and Welfare of the July 2007 Policy Changes to Superannuation and the Age Pension. This proposal's central question falls within the priority goal of 'Strengthening Australia's social and economic fabric'. Understanding the effects of alternative superannuation tax arrangements is crucial in view of concerns regarding aggregate private savings and labour force participation in an ageing economy. Low savings or participation could have implications for sustained economic growth. This project's outcomes will provide an indication of the potential effects of policies on labour supply and savings. After further modifications, the model developed in this project can also address other questions in the context of life-cycle decisions under uncertainty, such as labour supply, fertility or health.Read moreRead less
Space gravity: squeezing the last drop of hydrological information out of current and future missions. Australia needs space gravity measurements in order to estimate regional-scale total water storage changes on our continent. This project will deliver the analysis capability required to exploit all the measurements of the current Gravity Recovery and Climate Experiment (GRACE) mission and to place Australia in a state of readiness for the 2017 GRACE Follow On mission.
Hydrological changes in Australia and the South Pacific. This project plans to use stalagmites from the South–West Pacific to generate continuous rainfall records for the last 2000 years. Stalagmites contain uncorrupted data that are not available in other archives, and provide unparalleled accurate chronologies. The spatial and temporal variations of the data may highlight the interplay of climate drivers, such as El Niño Southern Oscillation, and how they change the distribution of rainfall in ....Hydrological changes in Australia and the South Pacific. This project plans to use stalagmites from the South–West Pacific to generate continuous rainfall records for the last 2000 years. Stalagmites contain uncorrupted data that are not available in other archives, and provide unparalleled accurate chronologies. The spatial and temporal variations of the data may highlight the interplay of climate drivers, such as El Niño Southern Oscillation, and how they change the distribution of rainfall in the Pacific. This knowledge would increase our scientific understanding and enable better predictions of the recurrence of droughts and wet events in Australia.Read moreRead less
Reconstructing changes in atmospheric circulation over the mid-latitudes of the Southern Hemisphere during the past 3000 years. The climate of the mid-latitudes of the southern hemisphere is of global significance and yet past changes have proved difficult to reconstruct due to the dearth of records. Working across the Southern Ocean region using tree rings, lake sediments and ice cores, the project will produce the first comprehensive reconstruction spanning the last 3000 years.
First use of the gravity field and steady-state ocean circulation explorer for earth sciences in Oceania and Antarctica. The research seeks to improve satellite measurements of earth's gravitational field over the Australian region, Oceania and Antarctica. These data will be used to create a new reference surface for accurate mapping of earth's relief, geographic landmarks, sea level change as well as the currents of the encircling oceans.
Back to the Future: Interglacial Warming and the West Antarctic Ice Sheet . The Antarctic is highly-sensitive to abrupt changes caused by the passing of tipping points within the climate system. Crucially, the instrumental record is too short to resolve major uncertainties surrounding future warming. The Last Interglacial (125,000 yrs ago) was 2°C warmer than today and experienced 6-11 m higher global sea levels. The role of Antarctica is vital for constraining sea-level projections. This Austra ....Back to the Future: Interglacial Warming and the West Antarctic Ice Sheet . The Antarctic is highly-sensitive to abrupt changes caused by the passing of tipping points within the climate system. Crucially, the instrumental record is too short to resolve major uncertainties surrounding future warming. The Last Interglacial (125,000 yrs ago) was 2°C warmer than today and experienced 6-11 m higher global sea levels. The role of Antarctica is vital for constraining sea-level projections. This Australian-led international project aims to determine the mechanisms and impacts of past interglacial Antarctic warming up to 2°C (relative to pre-industrial). Innovative techniques integrating horizontal ice cores and high resolution marine records will help identify polar tipping points and better plan for impacts in Australia.Read moreRead less
Taxation, family policy and pension reform in an uncertain economy. The policies with which this research is concerned are central in determining the well being of millions of Australians in both current and future generations. It is important that these policies be debated and formulated on the basis of the best possible conceptual framework and with the most reliable possible quantitative assessments of their effects. It is also important that the policies concerned be considered jointly rathe ....Taxation, family policy and pension reform in an uncertain economy. The policies with which this research is concerned are central in determining the well being of millions of Australians in both current and future generations. It is important that these policies be debated and formulated on the basis of the best possible conceptual framework and with the most reliable possible quantitative assessments of their effects. It is also important that the policies concerned be considered jointly rather than in isolation from each other. The work will therefore directly assist policy makers in this area. Since it will be at the leading edge of current research, it will also benefit Australia's standing in the international research community.Read moreRead less
Robust Empirical Analysis of Poverty and Inequality in Australia. The project aims to improve our understanding of economic poverty and inequality in Australia, and contribute new method to the field of distributional analysis. The empirical analysis of consumption poverty and inequality will highlight the critical methodological assumptions underlying our perceptions of poverty, and provide an evaluation of the effectiveness of a range of programs targeted to the poor. The analysis of economic ....Robust Empirical Analysis of Poverty and Inequality in Australia. The project aims to improve our understanding of economic poverty and inequality in Australia, and contribute new method to the field of distributional analysis. The empirical analysis of consumption poverty and inequality will highlight the critical methodological assumptions underlying our perceptions of poverty, and provide an evaluation of the effectiveness of a range of programs targeted to the poor. The analysis of economic inequality in Australia will determine if recent trends are due to increasing globalisation, and whether national programs were effective in ameliorating international influences. This research will ultimately contribute to more effective poverty alleviation and income support programs.Read moreRead less
Quantification issues in corporate valuation, the cost of capital, and optimal capital structure. An estimate of the firm's cost of capital is probably the most important calculation required in corporate finance. It is used as the discount rate in valuation and capital budgeting decisions and forms the basis of pricing structures for many regulated industries. Corporate finance theory has identified the key inputs used to calculate the cost of capital, but the current literature falls short o ....Quantification issues in corporate valuation, the cost of capital, and optimal capital structure. An estimate of the firm's cost of capital is probably the most important calculation required in corporate finance. It is used as the discount rate in valuation and capital budgeting decisions and forms the basis of pricing structures for many regulated industries. Corporate finance theory has identified the key inputs used to calculate the cost of capital, but the current literature falls short of precisely quantifying and measuring many of these inputs. The outcomes from this project will be a framework to quantify three key aspects of the cost of capital - the value of dividend imputation tax credits, the assessment of the optimal capital structure for the firm (in particular, the quantification of bankruptcy and agency costs associated with debt financing), and the estimation of the firm's marginal tax rate.Read moreRead less