This paper provides an overall picture of the Philippine business cycles covering the period 1981 to 2003 by characterizing them in terms of volatility, co-movement and persistence. As a trend-cycle decomposition technique, the most frequently used Hodrick Prescott filter was applied. The period...

A countrys population consists of persons at different ages and stages of their economic lifecycle. Those in the population that are incurring lifecycle deficits would not be able to sufficiently support themselves, while those generating surpluses would have more than they require. Resources...

Accounting for observed fluctuations in aggregate employment, consumption, and real wage using the optimality conditions of a representative household requires preferences that are incompatible with economic priors. In order to reconcile theory with data, we construct a model with heterogeneous...

This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of dierent production factors and the political con.icts among factor owners on how to divide the outputs. The main production factor in economy evolves from...

This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of dierent production factors, and political conicts among factor owners on how to divide the outputs. The main capital form in economy evolves from land to...

This paper discusses mechanisms to prevent and resolve foreign exchange crises in East Asia. Policies and mechanisms at the country level as well as regional and global levels are discussed. Policies at the level of a particular country to prevent foreign exchange crises include the management...

This paper discusses mechanisms to prevent and resolve foreign exchange crises in East Asia. Policies and mechanisms at the country level as well as regional and global levels are discussed. Policies at the level of a particular country to prevent foreign exchange crises include the management...

This paper discusses mechanisms to prevent and resolve foreign exchange crises in East Asia. Policies and mechanisms at the country level as well as regional and global levels are discussed. Policies at the level of a particular country to prevent foreign exchange crises include the management...

Several countries have employed countercyclical fiscal policy to ameliorate the impact of the global financial crisis. This study identifies some of the issues and policy implications associated with this policy response in developing countries. Included are case studies of four developing...

Several countries have employed countercyclical fiscal policy to ameliorate the impact of the global financial crisis. This study identifies some of the issues and policy implications associated with this policy response in developing countries. Included are case studies of four developing...