Specialisation: Complex economic systems, evolutionary macroeconomics, energy economics, economics of innovation.
Professor John Foster was appointed to a Chair at the University of Queensland in 1991 and was Head of the School of Economics from 1999 to 2008. He has had a longstanding interest in the implications of ongoing structural change in economic systems for macroeconomic theory and econometric modelling. He is also an expert on the economics of innovation and was a co-author of the Cutler Report on Australia's National Innovation System in 2008. From 2010 to 2012, he was President of the International J.A. Schumpeter Society, the premier international association in the field of the economics of innovation. Since 2008, he has increased his research in the field of energy economics. He is Director of the Energy Economics and Management Group (EEMG) at UQ and he is also Focal Leader in Renewable Energy in the Global Change Institute at UQ. From 2004 to 2007, he was an appointed Member of the ARC College of Experts (Panel B - Social, Behavioural and Economic).
In recognition of his distinguished service, he was awarded the title of Emeritus Professor by the Vice-Chancellor of the University of Queensland, commencing in 2015.
Recent Publications (from 2009):
“Discrete Fourier Transform filters: cycle extraction and Gibbs’ effect considerations,” Macroeconomic Dynamics, vol. 13, 2009, pp. 523-33 (with Hinich, M. and Wild, P.).
“Evolution and economic complexity: an overview,” Economics of Innovation and New Technologies, Special issue on ‘Knowledge, innovation and evolutionary economic modelling: some complex systems perspectives’ edited by Foster, J. and Metcalfe, J.S., 2009, Vol. 18, No. 7, pp. 607-10.
"A micro-meso-macro perspective on the methodology of evolutionary economics: Integrating history, simulation and econometrics." In Cantner, Uwe, Gaffard, Jean-Luc and Nesta, Lionel (Ed.), Schumpeterian Perspectives on Innovation, Competition and Growth, 2009, pp. 53-68. Germany: Springer. doi:10.1007/978-3-540-93777-7_5 (with J.Potts).
"Evolution and economic complexity: An overview." Economics of Innovation, 18 7, 2009, pp.607-610. doi:10.1080/10438590802564477 (with J.S. Metcalfe).
"Identifying nonlinear serial dependence in volatile, high frequency time series and its implications for volatility modelling." Macroeconomic Dynamics, 2010, Volume 14, Supplement S1, pp. 88-110 (with Hinich, M. and Wild, P.).
“A statistical uncertainty principle for estimating the time of a discrete shift in the mean of a continuous time random process,” Journal of Statistical Planning and Inference, 2010, Volume 140, Issue 12, Pages 3688-3692 (with M. Hinich and P. Wild).
An entrepreneurial model of economic and environmental co-evolution. Ecological Economics, Volume 70, Issue 2, 15 December 2010, Pages 375-383 (with J. Potts and A. Straton).
"Evolutionary growth theory." In Mark Setterfield (Ed.), Handbook of Alternative Theories of Economic Growth, 2010, pp. 64-94. Cheltenham, U.K. ; Northampton, MA, U.S.A.: Edward Elgar (with J.S Metcalfe).
“Are Daily and Weekly Load and Spot Price Dynamics in Australia’s National Electricity Market Governed by Episodic Nonlinearity? Energy Economics. Volume 32, Issue 5, September 2010, pp. 1082-1091 (with Hinich, M. and Wild, P).
“Productivity, creative destruction and innovation policy: some implications from the Australian experience.” Innovation: Management, Policy & Practice, 2010, Vol. 12, pp. 355-368.
“Evolutionary macroeconomics: a research agenda” Journal of Evolutionary Economics, 2011, Vol. 21, pp. 5-28. Reprinted in Pyka, A and Derengowski, F. (eds.) Catching Up, Spillovers and Innovation Networks in a Schumpeterian Perspective, Heidelberg, Springer, 2011
“Flexible transmission network planning considering the impacts of distributed generation.” IEEE Transactions on Power Systems, 2011, Vol. 26, pp. 1434 – 1443. (with J.H. Zhao and Z.Y. Dong).
“Energy, aesthetics and knowledge in complex economic systems.” Journal of Economic Behavior and Organization, 2011, Vol. 80, Issue 1, September, pp. 88-100.
"Economic systems." In Dov. M. Gabbay, Paul Thagard and John Woods (Ed.), Philosophy of Complex systems, 2011, pp. 509-530, North Holland, Netherlands: Elsevier. doi:10.1016/B978-0-444-52076-0.50030-4
“Systems thinking, market failure and the development of innovation policy: the case of Australia.” Research Policy, 2011, Vol 40, issue 9, November, pp. 1145-1156 (with Dodgson, M., Hughes, and Metcalfe, J.S).
“Economic emergence: an evolutionary economic perspective,” Journal of Economic Behavior and Organization, 2012, Vol. 82 420– 432 (with J.S. Metcalfe).
"Resilience and electricity systems: a comparative analysis.” Energy Policy, Vol. 47, August 2012, pp.188-201 (with L. Molyneaux, L. Wagner and C. Froome).
"Australian renewable energy policy: Barriers and challenges,” Renewable Energy, 2013, Vol 60, pp. 711-721(with Byrnes, L., Brown, C. and Wagner, L.)
“Australian power: can renewable technologies change the dominant industry view?” Renewable Energy, 2013, Vol. 60, pp. 215-224 (with L. Molyneaux, L. Wagner and C. Froome).
"The magnitude of the impact of a shift from coal to gas under a Carbon Price." Energy Policy, 66 2013, pp. 280-291. doi:10.1016/j.enpol.2013.11.003 (with L. Wagner and L. Molyneaux)
“Testing for non-linear and time irreversible probabilistic structure in high frequency financial time series data” Journal of the Royal Statistical Society (Series A: Statistics in Society), 2014, vol.177, Part 3, pp. 643– 659 (with P. Wild and M. Hinich).
“Introduction: co-evolution and complex adaptive systems in evolutionary economics.” Journal of Evolutionary Economics, 2014, Vol. 24, pp.205–207. (with A. Pyka)
"The impact of carbon prices on Australia's national electricity market." In John Quiggin, David Adamson and Daniel Quiggin (Ed.), Carbon pricing: early experiences and future prospects, 2014, pp. 101-122, Cheltenham, United Kingdom: Edward Elgar Publishing. doi:10.4337/9781782547747.00020 (with W.P. Bell and P. Wild)
“Energy, knowledge and economic growth.” Journal of Evolutionary Economics, 2014, Volume 24, Page 209-238.
“Assessing the Transmission Expansion Cost with Distributed Generation: an Australian Case Study" IEEE Transactions on Smart Grid 2014 vol. 5(4): pp. 1892-1904 (with JH Zhao, ZY Dong and KP Wong).
“Joseph Schumpeter and Simon Kuznets: comparing their evolutionary economic approaches to business cycles and economic growth,” Journal of Evolutionary Economics, 2014, DOI: 10.1007/s00191-014-0356-6
"The Impact of Carbon Prices on Wholesale Electricity Prices and Carbon Pass-Through Rates in the Australian National Electricity Market," The Energy Journal, 2015, vol 36 (3) DOI: http://dx.doi.org/10.5547/019565184.108.40.206 (with P.Wildand W. P. Bell).
Email: j.foster [at] uq.edu.au