A Small Macroeconometric Model of the Philippine Economy
Ducanes, Geoffrey; Cagas, Marie Anne; Qin, Duo; Quising, Pilipinas; Magtibay-Ramos, Nedelyn | January 2005
Abstract
This paper describes a small quarterly macroeconometric model of the Philippine economy. The model consists of sectors of private consumption, investment, government, trade, production, prices, money, and labor. The equilibrium-correction form is used for all the behavioral equations. The tracking performance of the model, both within-sample and out-of-sample, is evaluated and found satisfactory. Policy simulations indicate it is crucial that the Philippine government address its debt problem for it to achieve higher future growth. Oil price simulations also show the country is highly vulnerable to external shocks.
Citation
Ducanes, Geoffrey; Cagas, Marie Anne; Qin, Duo; Quising, Pilipinas; Magtibay-Ramos, Nedelyn. 2005. A Small Macroeconometric Model of the Philippine Economy. © Asian Development Bank. http://hdl.handle.net/11540/1891. License: CC BY 3.0 IGO.ISSN
1655-5252
Keywords
Macroeconomic
Macroeconomic Analysis
Macroeconomic Framework
Macroeconomic Models
Macroeconomic Performance
Macroeconomic Planning
Macroeconomic Policies
Macroeconomic Reform
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