The Philippine peso appreciation has been creating serious problems for the economy because of the high degree of unemployment and poverty incidence in the country. More specifically, it threatens contraction of the export sector through loss of competitiveness. The paper tracks the exchange...

The large and unsustainable deficits of the early 1980s have reemerged in recent years. This paper aims to answer two questions: What has caused the poor fiscal performance of the Philippines in recent years? Is it the result of unfortunate events, macroeconomic shocks or misdirected fiscal...

The most important role that fiscal policy can play with regard to growth is to ensure macroeconomic stability. But despite two highly visible tax reform programs in less than two decades, the Philippines is now in the midst of a fiscal crisis. This has been brought about by pressures on the...

While exchange rate dynamics is an important topic in open economy macroeconomics, the standard tool commonly used to introduce exchange rate dynamics - the Dornbusch (1976) seminal paper along with phase diagram - is not well-suited for undergraduate students as most of them do not have yet a...

This short piece discusses the results of simple regression analysis using cross country data to determine the factors that have influenced fluctuations in real output during the covid-19 pandemic period. Focus is on explaining not only output growth from 2020 to the first half of 2021, but also...

Ferdinand E. Marcos was the Philippine president from 1966 to 1986, a period exceeding twenty years. After serving as a two-term president of the Philippines from 1966-1972, he declared martial law under the constitution to assume dictatorial powers to tame the political chaos that was then...

The Philippine Constitution contains many strong restrictions targeted against the flow of foreign capital in specific areas of economic activities. These restrictions were the same ones that were incorporated into the nationalistic provisions of the 1935 Constitution when its framers were...

The paper discusses the suitability of the federal form of government as a replacement for the centralized structure of government in the context of Philippine economic and political conditions. The answer is depicted in the title of the essay. In providing a review of the main question,...