Abstract
This paper describes the ADB Philippine model, a quarterly macroeconometric model for forecasting and policy analysis. The model covers private consumption, investment, government, foreign trade, GDP 3-sector labor and production, prices and monetary sectors. The equilibrium-correction form is used, estimated via the general→specific dynamic specification approach, to ensure the best possible blend of a priori long-run theories with short-run dynamics through a posteriori guidance. Country-specific features are incorporated and special attention is given the government block design to enable variables simulations of the fiscal debt problem, one of the most critical problems of the economy at present.
Highlights
This paper presents a model of the Philippine economy, which was developed as part of the Asian Development Bank’s (ADB) project to develop macroeconometric models of its major debt member countries
This paper describes an ADB quarterly macroeconometric model of the Philippines
The model exhibits a number of desirable properties that the authors believe accords it distinct advantage over other existing macroeconometric models of the Philippines
Summary
This paper presents a model of the Philippine economy, which was developed as part of the Asian Development Bank’s (ADB) project to develop macroeconometric models of its major debt member countries. These models are to be used for forecasting and policy simulation. The major ones still in use are the PIDS-NEDA Annual Model, NEDA Quarterly Macroeconomic Model (NEDA QMM), and Ateneo Macroeconomic Forecasting Model (AMFM).. The PIDS-NEDA Annual Model is the oldest of the group having been started in the mid-1980s but later modified into several versions, the latest of which is reported in Yap (2000). In many of the equations, serial correlation is addressed by specifying the error term as an autoregressive process
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
