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. These...

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...

The subject of this study is income polarization, an important but neglected dimension of income distribution. Estimates of two measures of income polarization are obtained for the population, rural, and urban sectors using household survey data on expenditures per capita for a sample of Asian...

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...