A Small Macroeconometric Model of the Philippine Economy

Geoffrey Ducanes, Marie Anne Cagas (), Duo Qin, Pilipinas Quising () and Nedelyn Magtibay-Ramos ()
Additional contact information
Marie Anne Cagas: Asian Development Bank
Pilipinas Quising: Asian Development Bank
Nedelyn Magtibay-Ramos: Asian Development Bank

No 62, ADB Economics Working Paper Series from Asian Development Bank

Abstract: This paper describes a small quarterly macroeconometric model of the Philippine economy. The model consists of sectors of private consumption, investment, government, trade, production, prices, money, and labor. The equilibrium-correction form is used for all the behavioral equations. The tracking performance of the model, both within-sample and out-of-sample, is evaluated and found satisfactory. Policy simulations indicate it is crucial that the Philippine government address its debt problem for it to achieve higher future growth. Oil price simulations also show the country is highly vulnerable to external shocks.

Keywords: equilibrium-correction form; macroeconometric model; oil price simulations; Philippine economy; policy simulations (search for similar items in EconPapers)
JEL-codes: C53 E17 O53 (search for similar items in EconPapers)
Pages: 46 pages
Date: 2005-01-01
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Journal Article: A small macroeconometric model of the Philippine economy (2006)
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