This paper explains why currency movements and trade volumes, while theoretically related, have minimal effect on each other, in practice. In addition, it argues that volatile currency movements and trade deficits are not beneficial in the long run. A separate set of measures on how to deal with...

Macroeconometric models may have lost its fame in the past decade; nevertheless it has remained useful in guiding policy decisions and forecasting. This paper is concerned with its estimation and its uses regarding stabilization policies. Improvement in the present Philippine macroeconomic models is...

This paper explains why currency movements and trade volumes, while theoretically related, have minimal effect on each other, in practice. In addition, it argues that volatile currency movements and trade deficits are not beneficial in the long run. A separate set of measures on how to deal with...

Major exchange rate adjustments have been seriously resisted by various groups due to their association of its occurrence during periods of severe economic crisis. Hence, exchange rate policy has not been utilized as part of development strategy but as a reactionary tool during periods of...

Given that the 5% uniform tariff rate by 2004 will be implemented, this study lends support to the substantial benefits to be reaped from it in the form of greater import competition, improved efficiency and better resource allocation. This also identifies the industries heavily favored by its...

This paper reviews the general structure of the following general computable general equilibrium (CGE): the APEX model, Habito’s second version of the PhilCGE model, Cororaton’s CGE model and Bautista’s first CGE model. These models are chosen as they represent the range of recently...

This paper looks at the issue of reforming financial regulatory structures from the New Institutional Economics perspective. In particular, it examines how the broader institutional environment prevailing in developing countries like the Philippines may affect the institutional arrangements for...