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Qualifications
BEc (Hons)(La Trobe), MEc (La Trobe), MPA (Harvard), PhD (Vict Univ)
Professor Rasmussen is Director of VISES having joined in 1998. His work
has focussed on innovation, business models, business strategy and
industry development issues; and also encompassed health economics,
regional economics, and economic development. His most recent work has
been on estimating the economic returns to investment in health, for WHO
and UNFPA, APEC Life Sciences Innovation Forum (LSIF) and the APEC
Business Advisory Council.
He led work on the recent UNFPA adolescent project on evaluating
interventions to reduce child marriage and intimate partner violence.
Other multi-country evaluation studies have estimated the benefit-cost
ratios for interventions to treat disease and health conditions for
children and mothers, those with mental health issues and for a range of
interventions to improve the well-being of adolescents. In addition to
his joint authorship of a paper published in The Lancet (Sheehan et al.
2017), he has an article Journal of Adolescent Health (2019) on
evaluating interventions to reduce child marriage.
He has also conducted research for the United States Chamber of Commerce
on health and productivity. This work has estimated the economic cost of
absenteeism, presenteeism and early retirement for about 18 countries as
part of its Global Health Initiative. Currently the research is being
conducted for China.
He completed a health study on The Creation and Capture of Value in
Biopharmaceuticals which is being published as a book by Edward Elgar
(2009). He was elected Co-Chair (Academic) of the
APEC Life Sciences Innovation Forum in August 2017, where he leads the
work on persuading Ministers and Ministries of Finance in the APEC
region to more actively engage in developing innovative ways of
financing health.
Prof. Rasmussen has had a career spanning the senior levels of both the
public and private sectors. He was Deputy Director of CSES until 2011.
In Government he has held a number of senior
positions, most significantly as Assistant Director General, Finance in
the Department of Management and Budget of the State of Victoria. The
position was one of five or six that reported to the Director-General
(head) of the Department. A major focus of the position was to improve
the management of the Government’s financial assets and liabilities.
This entailed the development of policies that were central to the
State’s financial strategies. During this period he become a board
member of a number of government bodies including Deputy Chairman, VicFin,
the government’s international borrowing arm and the National
Mortgage Market Corporation. He also played a major role in a wide range
of official publications, including budget papers, strategy documents
and industry and financial analyses.
He spent seven years at the ANZ Bank, one of Australia’s big four banks
and a company with substantial activities in Europe and Asia. In the ANZ
he held various senior business strategy roles, most notably as Chief
Manager, Retail Strategy in the Retail Bank and Chief Manager,
Development of the Private Bank. In these and other roles he was
intimately involved in the development of the Bank’s strategic response
to the massive technological and organisational changes which took place
in banking through the 1990s. He was also responsible for a wide range
of business and industry analyses and strategic planning reports.
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Publications
Book
Rasmussen, B. 2010,
Innovation and Commercialisation in the Biopharmaceutical
Sector: Creating and Capturing Value, Edward Elgar, London.
Book chapters
Rasmussen, B., Symons, J. and Maharaj, M. and Madonia, K. 2020, ‘Promised, given, traded, sold’, in UNFPA, State of the World Population: Against My Will, New York, pp. 94-113.
Rasmussen, B., Symons, J. and Maharaj, N. 2020, ‘Cost of ending child marriage’, in Johns Hopkins University, Avenir Health, Victoria University, Institute of Health, Metrics and Evaluation and UNFPA, Costing the Three Transformative Results, UNFPA, New York, chap. 4.
Journal articles
Ahmed, S., Rasmussen, B. and Sheehan, P. 2022, ‘China’s global finance footprint 2005–2014: Comparing AidData and CGIT, Australian Economic Review, May 2022, https://doi.org/10.1111/1467-8462.12469.
Rasmussen, B., Maharaj, N., Karan, A., Symons, J., Selvaraj, S., Kumar, R., Kumnick, M. and Sheehan, P. 2021, ‘Evaluating interventions to reduce child marriage in India’, Journal of Global Health Reports, vol. 5, e2021044.
Rasmussen, B., Maharaj, N., Sheehan, P. and Friedman, H. 2019,
'Evaluating
the employment benefits of education and targeted interventions to reduce
child marriage’, Journal of Adolescent Health, vol. 65, no. 1, pp. S16-S24.
Young, C., Jones, R., Maharaj, N. and Rasmussen, B. 2019, 'Transforming through diversity and inclusion capability: The pathway to achieving diversity benefits', Australian Journal of Emergency Management, Monograph No. 5, pp. 35-44.
Patton, G.C., Olsson, C.A., Skirbekk, V., Saffery, R., Wlodek,
M.E., Azzopardi, P. S., Stonawski, M., Rasmussen, B., Spry, E., Francis, K.,
Bhutta, Z.A., Kassebaum, N.J., Mokdad, A.H., Murray, C.J.L., Prentice, A.M.,
Reavley, N., Sheehan, P., Sweeny, K., Viner, R.M., Sawyer, S.M., 2018,
‘
Adolescence and the next generation’, Nature,
vol. 554, pp. 458-466.
Bertram, M.Y., Sweeny, K., Lauer, J.A., Chisholm, D., Sheehan, P., Rasmussen,
B., Upreti, S.R., Dixit, L.P., George, K. and Deane, S. 2018,
‘
Investing in non-communicable diseases: An estimation of the return
on investment for prevention and treatment services’,
Lancet, vol. 391, no. 10134, pp. 2071–2078.
Sheehan, P., Sweeny, K., Rasmussen, B., Wils, A., Friedman, H.S., Mahon, J.,
Patton, G.C., Sawyer, S.M., Howard, E., Symons, J., Stenberg, K., Chalasani, S.,
Maharaj, N., Reavley, N., Shi, H., Fridman, M., Welsh, A., Nsofor, E. and Laski,
L. 2017, ‘
Building the foundations for sustainable development: A case for global
investment in the capabilities of adolescents’, The Lancet,
vol. 390, no. 10104, pp. 1792-1806.
Chisholm, D., Sweeny, K., Sheehan, P., Rasmussen, B., Smit, F., Cuijpers, P. and
Saxena, S. 2016, ‘Scaling-up treatment of depression and anxiety: A global return on
investment analysis’, Lancet Psychiatry, vol. 3, no. 5, pp. 415-424.
Grewal, B., Cheng, E. and Rasmussen, B. 2015, ‘Local government debt in China:
Implications for Reform’, Public Finance and Management, vol. 15, no. 4.
Stenberg, K., Axelson, H., Sheehan, P., Anderson, I., Gülmezoglu, A.M.,
Temmerman, M., Mason, E., Friedman, H.S., Bhutta, Z.A., Lawn, J.E., Sweeny, K.,
Tulloch, J., Hansen, P., Chopra, M., Gupta, A., Vogel, J.P., Ostergren, M.,
Rasmussen, B., Levin, C., Boyle, C., Kuruvilla, S., Koblinsky, M., Walker, N.,
de Francisco, A., Novcic, N., Presern, C., Jamison, D. and Bustreo, F. on behalf
of the Study Group for the Global Investment Framework for Women’s Children’s
Health 2013, ‘
Advancing social and economic development by investing in women's and children's health: A
new global investment framework’, The Lancet, vol. 383, no. 9925, pp.
1333-1354, doi:10.1016/S0140-6736(13)62231-X.
Grewal, B., Rasmussen, B. and Sheehan, P. 2009, ‘Governments, corporations and
the financial crisis: Is this the end of private banks?’, Harvard
International Review, March, online .
Rasmussen, B. 2007, ‘
Is the commercialisation of nanotechnology different? A case study approach’,
Innovation: Management, Policy and Practice, vol. 9, no. 1.
Research reports
Sheehan, P., Rasmussen, B., Sweeny, K., Maharaj, N. and Symons, J. 2022, WHO Investment Case 2.0: Technical Report, Victoria Institute of Strategic Economic Studies, Victoria University, Melbourne.
Rasmussen, B., Sheehan, P., Symons, J, Maharaj, N., Welsh, A. and Kumnick, M. 2022, Syria Education and Development Investment Case: Economic, Social and Psychological Costs and Risks Resulting from Not Investing in Education Systems in Syria, Report to UNICEF Syria, Victoria Institute of Strategic Economic Studies, Melbourne.
Rasmussen, B., Maharj, N. et al. 2020, 'Cost of ending child marriage', in United Nations Population Fund, Costing the Three Transformative Results, New York, chap. 4.
Rasmussen, B., Sweeny, K., Welsh, A., Kumnick, M., Reeve, M. and Dayal, P. 2020, Increasing Social and Economic Benefits Globally: Rates of Return on Health Investments, US Chamber of Commerce, Washington DC and VISES, Victoria University, Melbourne.
Rasmussen, B. and Maharaj, N. 2020, The Economic Benefits of the Indigenous Fire and Rescue Employment Strategy (IFARES) Program: Fire and Rescue New South Wales. Bushfire and Natural Hazards CRC, Melbourne.
Rasmussen, B., Sheehan, P., Sweeny, K., Symons, J. and Maharah, N. 2019,
Adolescent Investment Case Burundi: Estimating the Impacts of Social
Sector Investments for Adolescents,
VISES Report to UNICEF Burundi, Bujumbura.
Rasmussen, B., Sheehan, P., Sweeny, K., Symons, J. and Maharah, N. 2019,
Adolescent Investment Case Burundi: Estimating the Impacts of Social Sector
Investments for Adolescents – Summary, VISES Summary Report to UNICEF Burundi, Bujumbura.
Sweeny, K. and Rasmussen, B. 2019, Evaluation of the WorkWell Program: Initial Report, Report to the Victorian Department of Health and
Human Services (DHHS), VISES, Victoria University, Melbourne.
Rasmussen, B., Sweeny, K., Maharaj, N. and Welsh, A. 2018,
Our Health Our Wealth: The Impact of Ill Health on Retirement Savings in
Australia, Report to McKell Institute, VISES, Melbourne, August.
Jones, R., Young, C., Sheehan, P., Rasmussen, B.,
Fridman, M., Sweeny, K. 2018, Climate Change and Social Determinants
of Health and Wellbeing Scoping Study, Final Report to Victorian
Department of Health and Human Services, VISES, Melbourne.
Rasmussen, B. and Maharaj, N. 2018, Changing Capabilities of Emergency Service Organisations: Case Study Synthesis, Report to Bushfire and Natural Hazards CRC, VISES, Victoria University, Melbourne.
Young, C., Pyke, J., Maharaj, N., Rasmussen, B. and Jones, R.
2018, Diversity and Inclusion: Building Strength and Capability: Literature Review, Report to Bushfire and Natural Hazards CRC, Melbourne.
Young, C., Pyke, J., Maharaj, N., Cormack, C., Rasmussen, B.
and Jones, R. 2018, Diversity and Inclusion: Building Strength and Capability:
Research Summary, Report to Bushfire and Natural Hazards CRC, Melbourne.
Sheehan, P., Rasmussen, B. and Sweeny, K. 2015, Building the Foundations of Sustainable Development: A Global Investment Case for Investing in the Capabilities of Adolescents, Report for the UNFPA Project UNFPAUSA/14/037 Investment in Improving Health, Education and other Outcomes for Adolescents, VISES, Victoria University, Melbourne, December.
Sweeny, K., Fridman, M. and Rasmussen, B. 2017,
Estimating the value and impact of Nectar Virtual Laboratories, Report
to National eResearch Collaboration Tools and Resources (Nectar), VISES,
Melbourne, September, 56 pp.
Rasmussen, B., Sweeny, K. and Sheehan, P. 2016,
Health and the Economy: The Impact of Wellness on Workforce Productivity
in Global Markets, Report to the U.S. Chamber of Commerce’s Global
Initiative on Health and Economy, Washington, DC, April, 28 pp. See also at USCC.
Rasmussen, B., Sweeny, K. and Sheehan, P. 2016,
Economic Costs of Absenteeism, Presenteeism and Early Retirement Due to Ill Health: A Focus on Indonesia, Report to the U.S. Chamber of
Commerce’s Global Initiative on Health and Economy, VISES, Victoria
University, Melbourne, September, 13 pp.
Rasmussen, B., Pensabene, T., Pyke, J., Maharaj,
N. and Welsh, A. 2016, The Economic Benefits of Cultural Diversity,
Report to Office of Multicultural Affairs, Department of Premier and
Cabinet, Victoria, VISES, Victoria University, Melbourne.
Rasmussen, B., Sweeny, K. and Sheehan, P. 2015,
Cost of Early Retirement Due to Ill Health, Report to the APEC
Business Advisory Council and US Chamber of Commerce, VISES,
Victoria University, Melbourne, July.
Rasmussen, B., Sweeny, K. and Sheehan, P. 2015,
Cost of Early Retirement Due to Ill Health: Phase II Countries,
Report to the APEC Business Advisory Council and US Chamber of
Commerce, VISES, Victoria University, Melbourne, October.
Rasmussen, B., Sweeny, K. and Sheehan, P. 2015,
Economic Costs of Absenteeism, Presenteeism and Early Retirement Due
to Ill Health: A Focus on Brazil, Report to the Brazil-U.S. Business
Council, the US Chamber of Commerce and the APEC Business Advisory
Council, VISES, Victoria University, Melbourne, July.
Sweeny, K.,
Rasmussen, B. and Sheehan, P. 2015,
The Impact of Health on Worker
Attendance and Productivity in Twelve Countries, Report to the APEC Business
Advisory Council and US Chamber of Commerce, VISES, Victoria University,
Melbourne, October, 36 pp.
Symons, J., Jones, R.N., Young, C.K. and Rasmussen, B. 2015,
Assessing the Economic Value of Green Infrastructure: Literature Review, Climate Change Working Paper No 23, VISES, Victoria University, Melbourne.
Pensabene, T. and Rasmussen, B. 2015, Economic Impact of City of Maribyrnong Festival Program, Report to City of Maribyrnong, VISES, Victoria University, Melbourne, June.
Rasmussen, B. and Maharaj, N. 2015, Child Marriage, Supporting Paper 5, UNFPA Project UNFPAUSA/14/037 Investment in Improving Health, Education and other Outcomes for Adolescents, VISES, Victoria University, Melbourne, December, 13 pp.
Sheehan, P., Rasmussen, B. and Sweeny, K. 2014,
The Impact of Health on Worker Attendance and Productivity in the
APEC Region, Final Report to the APEC Business Advisory Council,
VISES, Melbourne, July, 45 pp.
Symons, J., Jones, R.N., Young, C.K. and Rasmussen, B. 2015,
Assessing the Economic Value of Green Infrastructure: Literature Review, Climate Change Working Paper No 23, VISES, Victoria University, Melbourne.
Rasmussen, B., Pensabene, T. and Welsh, A. 2014, Review of the Australian Synchrotron: Impact in Terms of Costs and Benefits, Report to CW Department of Industry, VISES, Victoria University, Melbourne.
Rasmussen, B. 2014, Contribution to Senate Economics References Committee: Inquiry into the Australian Innovation System: Submission from Victoria University, VISES, Victoria University, Melbourne.
Rasmussen, B., Hurley, K. and Sheehan, P. 2014,
Notes on the Wantirna Health Cluster, Report to Hassell Ltd, VISES,
Melbourne, July, 13 pp.
Rasmussen, B., Lang, J., Welsh, A. and Maharaj, N.
2013, A Quantitative Analysis of Victoria’s Key Exporters and Export
Competitors, Report to Victorian Department of State Development,
Business and Innovation, CSES, Victoria University, Melbourne, November.
Stenberg, K., Axelson, H., Sheehan, P.,
Anderson, I., Gülmezoglu, A.M., Temmerman, M., Mason, E., Friedman,
H.S., Bhutta, Z.A., Lawn, J.E., Sweeny, K., Tulloch, J., Hansen, P.,
Chopra, M., Gupta, A., Vogel, J.P., Ostergren, M., Rasmussen, B.,
Levin, C., Boyle, C., Kuruvilla, S., Koblinsky, M., Walker, N., de
Francisco, A., Novcic, N., Presern, C., Jamison, D. and Bustreo, F.
2013,
The Economic Benefits of Investing in Women’s and Children’s
Health, PMNCH Knowledge Summary 24, The Partnership for Maternal,
Newborn and Child Health, World Health Organization, Geneva. Also at WHO.
Rasmussen, B., Welsh, A. and Hurley, K. 2013,
Projecting Demand for BCL Chambers, Report to BCL, CSES, Victoria
University, Melbourne, 14 May.
Sheehan, P., Sweeny, K., Rasmussen, B. and World
Health Organization (WHO) 2012,
Investing in Maternal,
Newborn and Child Health: Analysis of the Costs, Benefits and Returns, Report on
Study Prepared for the LSIF APEC High-Level Meeting on Health and
the Economy, St Petersburg, 27 June 2012.
Rasmussen, B. and Hurley, K. 2012, Changing Location
of Business Establishments in Victoria, Report to Department of Business
Innovation (Victoria), Melbourne, September.
Rasmussen, B. and Hurley, K. 2012, Business Location in Victoria: A Decade of Change, Industry Report Series to Department of Business and Innovation Victoria, Melbourne and WorkSafe Victoria Authority, Melbourne. Reports undertaken by CSES in series were: Agriculture, Forestry and Fishing; Manufacturing, Retail Trade, Accommodation and Food Services; Rental, Hiring and Real Estate Services; Professional, Scientific and Technical Service; Administrative and Support Services; Education and Training; Health Care and Social Assistance; Arts and Recreation Services; and Other Services.
Rasmussen, B., English, A., Houghton, J., Lang, J.,
Maharaj, N., Sweeny, K., Min Jiang, Filep, S. and Rasmussen, A. 2012,
Chinese Export Opportunities for Victorian Companies, Report to
Department of Business Innovation and Innovation (Victoria), Melbourne,
February.
Rasmussen, B., Hurley, K. and Welsh, A. 2012, Emerging Trends in Global Services Trade, Report to Department of Business Innovation Victoria, Melbourne, December.
Rasmussen, B., Hurley, K. and Maharaj, N. 2011,
Regional and Sectoral Dimensions of Victorian Manufacturing, Report for
Project: A More Competitive Manufacturing Industry, Department of
Business and Innovation (Victoria), Melbourne, July.
Rasmussen, B., Sweeny, K., Lichtenberg, F. and Sheehan, P. 2011, Strains In the Global Biopharmaceutical Innovation System: An International Research Project, Report for Department of Innovation, Industry, Science and Research (DIISR), CSES, Victoria University, Melbourne.
Rasmussen, B. 2011, Nanotech for Sustainable Energy Options,
Report for DIISR, CSES, Melbourne.
Houghton, J., Rasmussen, R. and Sheehan, P. 2010,
Economic and Social Returns on Investment in Open Archiving Publicly
Funded Research Outputs, Report to Scholarly Publishing and Academic
Resources Coalition (SPARC), CSES, Victoria University, Melbourne, July.
Sweeny K. and Rasmussen B. 2010, CDM-Net Project
Final Report, Section 7, Precedence Healthcare, January.
Rasmussen, B., Sheehan, P., Maharaj, N., Van Hulten,
A., Weller, S. and Hurley, K. 2010,
Updating Melbourne’s West,
Report to Vice Chancellor, Victoria University, CSES, Melbourne.
Rasmussen, B. and Sheehan, P. 2009, Potential
Victorian Government Innovation Policy: Reponses in the Context of the
GFC, Report to DIIRD, CSES, Victoria University, Melbourne, August.
Houghton, J.W., Rasmussen, B., Sheehan, P.J., Oppenheim, C., Morris, A.,
Creaser, C., Greenwood, H., Summers, M. and Gourlay, A. 2009,
Economic
Implications of Alternative Scholarly Publishing Models: Exploring the
Costs and Benefits, Report to The Joint Information Systems
Committee (JISC), Loughborough University.
Available from JISC.
Sweeny, K. and Rasmussen, B. 2009, An Economic
Analysis of Expected Benefits from the CRC Bid’s Research Program, CSES,
January.
Rasmussen, B. and Maharaj, N. 2009, Management and
Marketing Cluster, CCC Briefing Paper, Report to Victoria University
Cluster Study Project, CSES, Victoria University, Melbourne, May.
Rasmussen, B., Sweeny, K. and Maharaj, N. 2009,
Health Cluster, Making VU Cluster Coordination Committee Input Report,
CSES, Victoria University, Melbourne, April.
Rasmussen, B. and Maharaj, N. 2009, Financial and
Economic Services Cluster, CCC Briefing Paper, Report to Victoria
University Cluster Study Project, CSES, Victoria University, Melbourne,
April.
Sheehan, P., Rasmussen, B., Sweeny, K., Grewal, B.,
Ahmed, A. and Maharaj, N. 2008,
Investing in the Future: An Assessment
of the Returns to Investment in Health Innovation, Framework Paper
prepared for the Life Science and Innovation Forum (LSIF) VI, Lima,
Peru, 14-15 August.
Sheehan, P., Rasmussen, B., Jolley, A., Symons, J.
and Parker, S. 2008,
Transforming Rail:
A Key Element in Australia’s Low
Pollution Future, Final Report to the CRC Rail Innovation, Brisbane.
Rasmussen, B. and Maharaj, N. 2008, Health Cluster,
CCC Briefing Paper, Report to Victoria University Cluster Study Project,
April, CSES, Victoria University, Melbourne.
Rasmussen, B. and Maharaj, N. 2008, ICT Cluster, CCC
Briefing Paper, Report to Victoria University Cluster Study Project,
May, CSES, Victoria University, Melbourne.
Rasmussen, R. and Maharaj, N. 2008, Engineering and
Infrastructure Cluster, CCC Briefing Paper, Report to Victoria
University Cluster Study Project, May, CSES, Victoria University,
Melbourne.
Rasmussen , B. and Maharaj, N. 2008, Human Services,
CCC Briefing Paper, Report to Victoria University Cluster Study Project,
July, CSES, Victoria University, Melbourne.
Rasmussen, R. and Maharaj, N. 2008, Legal Studies
and Law, CCC Briefing Paper, Report to Victoria University Cluster Study
Project, August, CSES, Victoria University, Melbourne.
Rasmussen, B. and Maharaj, N. 2008, Culture and
Creative Industries, CCC Briefing Paper, Report to Victoria University
Cluster Study Project, September, CSES, Victoria University, Melbourne.
Rasmussen, B. and Tegart, G. 2007, Contribution to the Victorian Government Nanotechnology Statement, Report Prepared for the Department of Innovation, Industry and Regional Development, Melbourne.
Rasmussen, B. and Maharaj, N. 2007, Financial and
Economic Services Cluster, CCC
Briefing Paper, Report to Victoria University Cluster Study Project, December,
CSES, Victoria University, Melbourne.
Rasmussen, B. and Maharaj, N. 2007, Transport and Logistics Cluster, CCC
Briefing Paper, Report to Victoria University Cluster Study Project, October,
CSES, Victoria University, Melbourne.
Rasmussen, B. and Maharaj, N. 2007, Education and Transition, CCC Briefing
Paper, Report to Victoria University Cluster Study Project, September, CSES,
Victoria University, Melbourne.
Rasmussen, B. and Maharaj, N. 2007, Sports and Physical Recreation, CCC Briefing
Paper, Report to Victoria University Cluster Study Project, August, CSES,
Victoria University, Melbourne.
Rasmussen, B. and Maharaj, N. 2007, Trends in the Tourism and Hospitality
Industry, CCC Briefing Paper, Report to Victoria University Cluster Study
Project, July, CSES, Victoria University, Melbourne.
Sheehan, P., Rasmussen, B. and Sweeny, K. 2007,
Developing an Integrated
Approach to Emerging Health Challenges, Framework Paper prepared for the APEC
Life Science Innovation Forum V, Adelaide, 19-20 April.
Sheehan, P., Rasmussen, B. and Sweeny, K. 2006,
Sustainable
Health Care Systems to Support Innovation, paper presented at the Fourth Annual APEC Life Science Innovation Forum (LISF), Hoi
An, Vietnam, 6-7 September.
Sheehan, P., Houghton, J., Rasmussen, B., Sweeny, K. and Tegart, G.
2006,
Consistent National Policies for Converging Technologies: Some
Preliminary Conclusions, Policy Report of the CSES Project General
Purpose Technologies, Complementarities and the Convergence of
Industries, ARC Linkage Grant Project LP0349387, November, Centre for
Strategic Economic Studies, Victoria University, Melbourne, 31 pp.
Rasmussen, B. 2005, An Economic Evaluation of the Impact of the HSW Initiative,
Report to Victorian Department of Innovation, Industry and Regional Development,
CSES, Victoria University, Melbourne, May.
Book chapter
Rasmussen, B. 2006, ‘Innovation and industry structure in the biomedical
industry: Role of alliances’, in B. Grewal and M. Kumnick (eds), Engaging the New World: Responses to the Knowledge Economy, Melbourne University Press,
Melbourne.
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