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WP 062: A Small Macroeconomic Model of the Philippine Economy

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.

Asian Development Bank
Authors Keywords
ADB; oil price; macroeconomic model; investment;
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Published in 2005 and available in the ADB or Downloaded 7,822 times since November 25, 2011
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