The paper serves to place the software (SCROP60) in the public domain. A guide on how to operate it and its hardware requirements is discussed. A neoclassical general equilibrium example using the software is then presented to analyze (1) changes in initial endowments and (2) a corporate income...

A small-scale open economy dynamic stochastic general equilibrium (DSGE) model is used to examine Philippine monetary policy. The model’s parameters are estimated using Bayesian methods. Posterior odds tests are conducted to compare models with different specifications of the policy rule....

This study examines Philippine macroeconomic fluctuations using Markov regime-switching techniques. Using all available GDP data, an annual and a quarterly model are constructed to explain Philippine boom-bust cycles as switches into any of three states─a moderate growth state, a low growth...

This paper sets rural financial market analysis within a macroeconomic framework. An agricultural credit demand model is constructed. A preliminary test of the model is conducted using restricted least squares. It is noted that the model can be used to generate supply parameters required for an...

This paper presents an analysis of the impact of a devaluation of the Philippine agricultural markets using a multi-market model. The modeling technique is described and distinguished from partial and general equilibrium methods of analysis. The simulation results show that agricultural markets...

This paper presents the estimation and dynamic historical simulation results of a demand-driven macro model of the Philippines. The model covers the period 1967 to 1988 using annual data. The model has four main parts. A core model describes the real behavior of the economy while three...

This paper presents an empirical analysis of inflation in an open economy. Using Philippine data, the paper first estimates the variance of inflation using a standard ARCH model and shows that periods of high inflation are succeeded by periods of high volatility. Next, the sources of inflation...