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WP 062: A Small Macroeconometric 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.

Authors Keywords
private sector participation; economic development; domestic banking market;
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Published in 2005 and available in the ADB Website or can be downloaded as full text Downloaded 516 times since November 25, 2011