The Philippines entered its deepest recession in post-war history in 2020, with output declining by 9.6 percent. Coming up with a strategy on how to best manage the economy and deal with the fallout of the public health shock, especially on the weaker segments of society, became the biggest...

This paper examines whether the current level of debt in the country, given the national government's fiscal policy and plans, remains on a sustainable path. By end-2021, a year after the peak of the public health and economic crisis brought about by the COVID-19 pandemic, the country's...

This study presents a small macroeconometric model with a fiscal sector, extending the model presented in Debuque and Corpus (2022). The model retains the original core blocks of domestic demand, international trade, employment, prices, and monetary sectors, and adds a fiscal sector consisting...