Understanding market mechanisms and determinants of transaction costs to achieve greater efficiency in Australian fixed-income markets

该项目将为政策制定者和监管机构提供信息，促进最优固定收益市场的发展，为个人和国民经济带来重大利益。这些好处将是短期的（当前的财富）和长期的（退休储蓄）。它将推动澳大利亚成为构建最优固定收益市场的领导者，这可以应用于世界各地的类似市场。最后，培养研究生将发展澳大利亚的研究基础设施，并为培养一代专家做出贡献，这些专家将提高澳大利亚在金融研究方面的国际地位，以及管理日益复杂的经济的能力。

This project will provide information to policymakers and regulators, enabling the evolution of optimal fixed-income markets, with significant benefits for individuals and the national economy. These benefits will be both short-term (current wealth) and long-term (retirement saving). It will promote Australia as the leader in constructing optimal fixed-income markets, which can be applied to similar markets around the world. Finally, training research students will develop research infrastructure in Australia, and contribute to produce a generation of specialists who will increase Australia's international standing in financial research and its ability to manage an increasingly complex economy.