The government is rightly concerned with employment generation to make growth inclusive. The use of the open unemployment rate to measure its success, however, is misplaced. In a developing country with a large informal sector and in the absence of unemployment insurance, open unemployment is...

We show that analysis of control problems with a "reduction set," i.e., a subset of the control vector that satisfies certain strong conditions, avoids the "curse of dimensionality." The problem boils down to solving n static equations in n unknowns (the control plus the state variables) and...

Few studies have analyzed the Philippine economic experience during the Japanese occupation. Although such studies are in the nature of history and commentaries, they have not focused on the economic analysis of the war experience. The present study hopes to close this gap if only partially by...

This paper is an attempt to examine a range of a definitions currently used to suggest poverty or as used in poverty studies. It is argued that the definitions suffer from serious and critical weaknesses. They are inadequate from a theoretical perspective and in giving useful policy options to...

The paper lays out some of the issues around recent world economic events particularly rising protectionism in developed countries. These issues include export potential of manufactured products of developing countries, the interaction and consequences of developed country policies that restrict...

This paper employs rent-seeking and public choice theory to explain the observation that land reform experience in the Philippines as well as in many other developing countries did not provide some degree of support for historical generalization as the East Asian experience. The analysis...