With the adoption of the Bangko Sentral ng Pilipinas (BSP) of the Inflation Targeting (IT) framework in 2002, average inflation went down in the past decade from historical average. However, the BSP’s inflation targets were breached several times since 2002. Against this backdrop, this paper...

We exploit the exogenous variation arising from the drug interdiction policy of the United States in the 1990s to estimate the impact of high-intensity conflict on unemployment in Colombia. Using synthetic control method and difference-in-differences models, we find that over the period...