This paper examines a model of exchange rate dynamics which incorporates sluggish output adjustment into the Dornbusch variable output model. In this model where both the price level and output cannot jump, the interest rate must decline in response to a monetary expansion so as to maintain...

“What are the prospects of the Philippine economy after the presidential election of 2004?” Before speculating on this question, the paper discusses four major problems of the economy that the new president will face after the elections. These are (a) the weak long-term performance; (b) the...

This paper explains the structure and the use of an economic time series on Philippines that I constructed at the University of the Philippines' School of Economics. A small program package suitable for use with a minicomputer both on a BATCH or on ON-LINE system was designed and the initial...

The paper describes the pattern of Japanese private investment in the Philippines, reviews the analytical aspects of private foreign investment in general and how Japanese investment fit in that framework and suggest directions for policy and research analysis. Philippine exposure to Japanese...