The implications for greying Australia of international property market interlinkages. Recent events in global financial markets have had a major effect on the retirement plans of Australians and the living standards of retirees. This research will permit pension fund managers to better gauge the fundamental links that exist across international property markets, as well as provide a better understanding for both academics and practitioners on the driving forces that link international real est ....The implications for greying Australia of international property market interlinkages. Recent events in global financial markets have had a major effect on the retirement plans of Australians and the living standards of retirees. This research will permit pension fund managers to better gauge the fundamental links that exist across international property markets, as well as provide a better understanding for both academics and practitioners on the driving forces that link international real estate markets together. The research will benefit all Australians as the outcomes will result in improved risk and return performance for superannuation funds, leading to a better standard of living for all retirees.Read moreRead less
Valuation, Investment Timing and Equity Financing of Commercial Real Estate in the Australian Market. Commercial real estate represents a significant component of the investment opportunities available in Australia. This sector is currently valued at approximately $1,500 billion with in excess of 85% of development financed via property trusts. The effective management of these assets requires an understanding of the tools available and their impact on risk and return. Despite its importance th ....Valuation, Investment Timing and Equity Financing of Commercial Real Estate in the Australian Market. Commercial real estate represents a significant component of the investment opportunities available in Australia. This sector is currently valued at approximately $1,500 billion with in excess of 85% of development financed via property trusts. The effective management of these assets requires an understanding of the tools available and their impact on risk and return. Despite its importance there is limited empirical evidence on the factors that influence land pricing, the development process and the provision of equity financing to this sector. Here we propose to undertake two interrelated studies designed to address this gap, providing management with a benchmark for assessing investment alternatives within the real estate sector.Read moreRead less
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
Intra-genomic conflict and the evolution of sexually selected traits. The dynamics of sexual selection may prevent the simultaneous optimization of traits shared by the sexes, or of different traits within each sex. This proposal focuses on the consequences of these conflicts for phenotypic and genomic evolution. First, I will compare selection acting on a sexually dimorphic trait in males and females. Second, I will use artificial selection to create a novel sexually dimorphic trait, and track ....Intra-genomic conflict and the evolution of sexually selected traits. The dynamics of sexual selection may prevent the simultaneous optimization of traits shared by the sexes, or of different traits within each sex. This proposal focuses on the consequences of these conflicts for phenotypic and genomic evolution. First, I will compare selection acting on a sexually dimorphic trait in males and females. Second, I will use artificial selection to create a novel sexually dimorphic trait, and track the evolutionary response. Third, I will investigate the link between two important fitness traits: body size and ageing rate. This work will enhance important on-going research in the laboratory of Robert Brooks (UNSW).Read moreRead less
Generalised conformal mappings. A conformal mapping preserves shape, at least at very small scale, circles are mapped to circles. The more recently introduced quasi-conformal mappings nearly preserves shape, at least at a very small scale, circles are mapped to regions which are similar to circles. This project will allow different directions to be scaled differently, and will consider mappings that send circles to ellipses of arbitrary eccentricity. The theory to be developed is mathematical an ....Generalised conformal mappings. A conformal mapping preserves shape, at least at very small scale, circles are mapped to circles. The more recently introduced quasi-conformal mappings nearly preserves shape, at least at a very small scale, circles are mapped to regions which are similar to circles. This project will allow different directions to be scaled differently, and will consider mappings that send circles to ellipses of arbitrary eccentricity. The theory to be developed is mathematical and it will provide a unified approach to important results in several areas, including Lie groups and functions of several complex variables. Read moreRead less
Symmetries in real and complex geometry. This project concerns an important area of abstract modern geometry. The results and techniques of the project will lead to significant progress in this area. It will benefit the national scientific reputation, strengthen the research profile of the home institutions, and provide training to young researchers.
Discovery Early Career Researcher Award - Grant ID: DE140100223
Funder
Australian Research Council
Funding Amount
$385,735.00
Summary
Diophantine approximation, transcendence, and related structures. Sequences produced by low-complexity structures are objects of importance to mathematics, linguistics and theoretical computer science. In the 1960s, Chomsky and Schützenberger formalised and popularised a hierarchy of such objects. In the 1920s, Mahler provided a corresponding analytic framework, which has proven extremely useful for analysing the algebraic character of low-complexity real numbers. This project will further devel ....Diophantine approximation, transcendence, and related structures. Sequences produced by low-complexity structures are objects of importance to mathematics, linguistics and theoretical computer science. In the 1960s, Chomsky and Schützenberger formalised and popularised a hierarchy of such objects. In the 1920s, Mahler provided a corresponding analytic framework, which has proven extremely useful for analysing the algebraic character of low-complexity real numbers. This project will further develop Mahler's method in order to investigate the connection between the algebraic and arithmetic properties of real numbers and the various Chomskian complexity measures of those numbers. The results of this proposal will advance our knowledge of the nature of "randomness" in low-complexity arithmetic sequences.Read moreRead less
Discovery Early Career Researcher Award - Grant ID: DE150100795
Funder
Australian Research Council
Funding Amount
$365,000.00
Summary
New approaches to estimating nonlinear time-varying macroeconometric models. Quantitative models are essential for formulating good policies. In a changing world, the analysis should be based on models that allow the behaviour of the economy to change over time. Due to computational limitations, however, one is often restricted to linear models, even when nonlinear ones are more appropriate. This project aims to develop new methods for estimating time-varying nonlinear models. Two important appl ....New approaches to estimating nonlinear time-varying macroeconometric models. Quantitative models are essential for formulating good policies. In a changing world, the analysis should be based on models that allow the behaviour of the economy to change over time. Due to computational limitations, however, one is often restricted to linear models, even when nonlinear ones are more appropriate. This project aims to develop new methods for estimating time-varying nonlinear models. Two important applications are also considered: one investigates how the zero lower bound on interest rates affects the monetary policy transmission mechanism; and, the other examines how uncertainties about monetary and fiscal policy affect economic growth and inflation. This project will have strong practical significance for conducting macroeconomic policy.Read moreRead less
Measuring inflation expectations and inflation expectations uncertainty. This project aims to construct model-based measures of inflation expectations and inflation expectations uncertainty. Inflation expectations can determine economic outcomes. This project will develop non-linear time-varying models to combine information from noisy and possibly biased measures of inflation expectations from surveys and financial markets. These model-based measures are expected to be better calibrated and to ....Measuring inflation expectations and inflation expectations uncertainty. This project aims to construct model-based measures of inflation expectations and inflation expectations uncertainty. Inflation expectations can determine economic outcomes. This project will develop non-linear time-varying models to combine information from noisy and possibly biased measures of inflation expectations from surveys and financial markets. These model-based measures are expected to be better calibrated and to provide valuable information for policymakers for formulating macroeconomic policies. They can be used to better assess the credibility of monetary policy and shed light on the causes of low inflation rate in developed economies.Read moreRead less
Change Detection in Causal Relationships and Measurement of Systemic Risk. Empirical measures of interconnectedness between financial institutions based on tests of Granger causality are currently used in detecting systemic risk. However, researchers need to define periods of calm and stress exogenously in order to implement these tests appropriately. This project aims to develop a new procedure to identify changes in causal relationships and the timing of these changes. The new approach has the ....Change Detection in Causal Relationships and Measurement of Systemic Risk. Empirical measures of interconnectedness between financial institutions based on tests of Granger causality are currently used in detecting systemic risk. However, researchers need to define periods of calm and stress exogenously in order to implement these tests appropriately. This project aims to develop a new procedure to identify changes in causal relationships and the timing of these changes. The new approach has the potential to be a significant improvement in the real-time identification of emerging turmoil in financial markets and provide an improved method for the detection of systemic risk. The new test procedure will be implemented using data for financial and non-financial institutions across Europe, the US and Australia.Read moreRead less