We construct a dynamic decision model where foreign borrowing figures as one of the instruments to maximize welfare over a planning horizon. We hypothesize a relation, a rather reasonable one, between the repayment schedule and the debt ceiling. For every period, there exists an optimal per...

This paper reviews public finance policy covering the fiscal deficit, public expenditure, and taxation over a period of two decades until the opening of 2000. The first section reviews national government budgetary operations through the net fiscal stance of the budget. Initially, the fiscal...

This paper measures the degree of education inequality in the Philippines. It generates the average years of schooling (AYS) and education Gini coefficients of the Philippines as a whole, and all its regions and provinces to examine the economically-active population's level of educational...

The electric power industry reform act in the Philippines has for its main objective the introduction of competition and effective regulation to reduce costs of electric power at retail. Background of high electricity costs is linked to the politics of energy and the structural problems that...

This paper explores the model of the imperfectly competitive firm, facing demand uncertainly, that sets a price on its product so as to maximize the probability of obtaining satisfactory profits. It is a consequence that the price is higher with higher demand or higher costs. With all firms as...

The paper is an exploratory study of labor market adjustment to the outflow of construction workers. It argues that the ease with which the market adjust to out-migration or to any change in demand of any skill depends on the cost of acquiring training for and the relative abundance of inherent...