Pro bono service: drivers, delight, dark side and downside for the professional. Pro bono work, common in the professions, is important to Australia's economy. This ground breaking research provides rich insights into why pro bono givers feel unappreciated, unacknowledged, unreciprocated, and often taken advantage of and, importantly, equips professionals with strategies for enhanced outcomes.
Bold Experiment: an historical evaluation of the Australian Assistance Plan. Australia and similar western democracies continue to wrestle with growing citizen disengagement with political processes and declining levels of active participation in society. This project is expected to provide the first historical examination of the Australian Assistance Plan (AAP), an innovative yet forgotten program from the 1970s. The AAP sought to reframe participation at a local level, stimulate voluntary orga ....Bold Experiment: an historical evaluation of the Australian Assistance Plan. Australia and similar western democracies continue to wrestle with growing citizen disengagement with political processes and declining levels of active participation in society. This project is expected to provide the first historical examination of the Australian Assistance Plan (AAP), an innovative yet forgotten program from the 1970s. The AAP sought to reframe participation at a local level, stimulate voluntary organisations and provide a framework that engaged with all levels of governments. Using archival sources and oral history methods, the project seeks to offer a new interpretation of an important initiative in Australian history and demonstrate how historical analysis can inform policy and shape debates in government and non-profit sectors in the future.Read moreRead less
Understanding and Modelling Weather Derivatives in Australia for the Purpose of their Accurate Pricing: a Statistical and Econometric Investigation. Australia suffers some of the most adverse and extreme weather globally. Its government and industries, especially agriculture and electricity, stand to benefit from improved understanding of weather derivatives and capability to price them accurately. Tailored to Australian weather scenarios, weather derivatives will be tools to manage local risk f ....Understanding and Modelling Weather Derivatives in Australia for the Purpose of their Accurate Pricing: a Statistical and Econometric Investigation. Australia suffers some of the most adverse and extreme weather globally. Its government and industries, especially agriculture and electricity, stand to benefit from improved understanding of weather derivatives and capability to price them accurately. Tailored to Australian weather scenarios, weather derivatives will be tools to manage local risk factors, and increase global competitiveness by hedging against competitors' good weather-related advantage. The US weather derivative market, capitalised at over US$7.5b, began just 7 years ago; there is no organised Australian market. This project's smart techniques for improving pricing accuracy will support the development and vigorous growth of a local market.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
Nonlinear Econometric Modelling: A Complex Systems Perspective. It is becoming increasingly accepted that economic systems are both complex and adaptive. However, this introduces a range of problems in constructing, estimating and testing economic models using time series data. In this project, this problem will be addressed through the formulation and implementation of a new methodology and associated techniques. These techniques will allow a researcher to use information obtained from a set o ....Nonlinear Econometric Modelling: A Complex Systems Perspective. It is becoming increasingly accepted that economic systems are both complex and adaptive. However, this introduces a range of problems in constructing, estimating and testing economic models using time series data. In this project, this problem will be addressed through the formulation and implementation of a new methodology and associated techniques. These techniques will allow a researcher to use information obtained from a set of nonlinearity tests to determine which type of nonlinear model provides the best representation of a data generating mechanism. Selected high frequency financial and macroeconomic data (for the US and Australia) will be used in the study. This research is intended to change the direction and emphasis of econometric modelling and promises to have a fundamental impact on forecasting and policy evaluation methods.
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Large dynamic time-varying models for structural macroeconomic inference. This project aims to broaden the range of macroeconomic models that have an integrated capacity for both greater realism and efficiency in analysis. This approach will be applied to two contexts at the forefront of current macroeconomic research, the effects of noisy productivity signals on business cycles and the effects of fiscal policy shocks. Flexible macro-econometric models underpin accurate inference by economists ....Large dynamic time-varying models for structural macroeconomic inference. This project aims to broaden the range of macroeconomic models that have an integrated capacity for both greater realism and efficiency in analysis. This approach will be applied to two contexts at the forefront of current macroeconomic research, the effects of noisy productivity signals on business cycles and the effects of fiscal policy shocks. Flexible macro-econometric models underpin accurate inference by economists and policymakers and the project outputs should provide widespread and significant benefits by improving policy and boosting Australia’s comparative advantage.Read moreRead less
Closing the Gap Between Theory and Data in Macroeconometrics. This project aims to bring econometric models (the empirical vehicle for inference) and economic models (the theory) closer together. A new model is intended to be proposed that will address a significant issue with the interpretation of the outputs of the econometric models. As a first contribution, the project is expected to develop the model and an inferential framework for this model using probability theory on manifolds. In a sec ....Closing the Gap Between Theory and Data in Macroeconometrics. This project aims to bring econometric models (the empirical vehicle for inference) and economic models (the theory) closer together. A new model is intended to be proposed that will address a significant issue with the interpretation of the outputs of the econometric models. As a first contribution, the project is expected to develop the model and an inferential framework for this model using probability theory on manifolds. In a second contribution, it is expected to construct an algorithm to permit inference leading to outputs useful to policy analysts. The model is intended to be parsimonious, which facilitates the development of a time-varying version to allow the model to evolve with the economy and provide better policy guidance.Read moreRead less
Computing probabilities of theories where these probabilities vary over time with applications in macroeconomics. This project will present a method to produce empirically based policy advice that accounts for the changing economic environment and that allows for a range of assumptions about how the economy works. The research and training will place Australia at the forefront of empirical macroeconomic research and strengthen international research networks. Policy making will be improved as: i ....Computing probabilities of theories where these probabilities vary over time with applications in macroeconomics. This project will present a method to produce empirically based policy advice that accounts for the changing economic environment and that allows for a range of assumptions about how the economy works. The research and training will place Australia at the forefront of empirical macroeconomic research and strengthen international research networks. Policy making will be improved as: it will use information that is more robust to false assumptions; it will quickly incorporate new information; and we will understand better why certain policies did or did not work at different times in the past. The research will impact upon other sciences such as physics and engineering that use the same underlying tools far more than do economists.Read moreRead less
The social dynamics of language: a study of phonological variation and change in West Australian English. This project studies the role of pronunciation as a marker of individual and community identity. As the first systematic study of accent variability in Perth, it focusses on how, across different contexts, speakers from older and younger generations and different backgrounds deploy speech as a means of projecting social affiliation and difference.
The effect of wastewater treatment on the ecotoxicity of chiral chemicals. This project aims to assess the environmental implications of pharmaceuticals discharged in effluents from wastewater treatment plants. Trace levels of human pharmaceuticals occur in sewage and urban waterways, but during sewage treatment, some pharmaceuticals can undergo a chemical transformation known as 'chiral inversion'. In some cases, this may convert relatively benign environmental contaminants to more ecologically ....The effect of wastewater treatment on the ecotoxicity of chiral chemicals. This project aims to assess the environmental implications of pharmaceuticals discharged in effluents from wastewater treatment plants. Trace levels of human pharmaceuticals occur in sewage and urban waterways, but during sewage treatment, some pharmaceuticals can undergo a chemical transformation known as 'chiral inversion'. In some cases, this may convert relatively benign environmental contaminants to more ecologically toxic species. This project will investigate why and how some pharmaceuticals become susceptible to chiral inversion and assess ecotoxicological differences. This work is expected to determine the significance of considering chiral inversion in environmental risk assessment, with applications to a broader range of chemicals including pesticides and industrial chemicals.Read moreRead less