Detection and study of gravitational waves from astrophysical sources is a major goal of current astrophysics. Ground‐based laser‐interferometer systems such as LIGO and VIRGO are sensitive to gravitational waves with frequencies of order 100 Hz, whereas space‐based systems such as LISA are sensitive in the millihertz regime. Precise timing observations of a sample of millisecond pulsars widely distributed on the sky have the potential to detect gravitational waves at nanohertz frequencies. Potential sources of such waves include binary super‐massive black holes in the cores of galaxies, relic radiation from the inflationary era and oscillations of cosmic strings. The Parkes Pulsar Timing Array (PPTA) is an implementation of such a system in which 20 millisecond pulsars have been observed using the Parkes radio telescope at three frequencies at intervals of two—three weeks for more than two years. Analysis of these data has been used to limit the gravitational wave background in our Galaxy and to constrain some models for its generation. The data have also been used to investigate fluctuations in the interstellar and Solar‐wind electron density and have the potential to investigate the stability of terrestrial time standards and the accuracy of solar‐system ephemerides.

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