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A Monetary and Financial Policy Analysis and Forecasting Model for the Philippines (PAMPh2.0)
The Bangko Sentral ng Pilipinas (BSP) has enhanced its macroeconomic modeling through the Forecasting and Policy Analysis System (FPAS), transitioning from a multi-equation econometric model to a modernized system centered on the Quarterly Projection Model (QPM). In its new version, the Policy Analysis Model for the Philippines (PAMPh2.0) integrates forward-looking projections, endogenous monetary policy, fiscal and macroprudential considerations, labor dynamics, and addresses complex shocks and policy trade-offs, facilitating effective policy mix determination and supporting real-time policy evaluation. The BSP’s modernization efforts also include refining forecast calendars and strengthening communication channels to accommodate the operationalization of PAMPh2.0. Detailed validation methods ensure empirical consistency. Finally, future refinements will align the model with evolving empirical findings and theoretical insights, ensuring its continued relevance.
Navigating External Shocks in Southeast Asia's Emerging Markets
As relatively small open economies, South-East Asian emerging markets (Indonesia, Malaysia, Philippines and Thailand or ASEAN-4) are highly susceptible to external shocks—both financial and real—that could induce large capital flows and exchange rate volatility that could lead to foreign exchange market dysfunction. With the exception of Bank Negara Malaysia, ASEAN-4 central banks mostly have flexible inflation-targeting frameworks for monetary policy implementation. Their main policy objectives include medium-term price stability, sustainable economic growth, and financial stability. Central Banks in ASEAN-4 economies have been early pilots in the operationalization of the IMF’s Integ...
BSP Unbound
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Cowherd Genealogy.
This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Spillovers from China’s Growth Slowdown and Rebalancing to the ASEAN-5 Economies
After many years of rapid expansion, China’s growth is slowing to more sustainable levels and is rebalancing, with consumption becoming the main growth driver. This transition is likely to have negative effects on its trading partners in the near term. This paper studies the potential spillovers to the ASEAN-5 economies through trade, commodity prices, and financial markets. It finds that countries with closer trade linkages with China (Malaysia, Singapore, and Thailand) and net commodity exporters (Indonesia and Malaysia) would suffer the largest impact, with growth falling between 0.2 and 0.5 percentage points in response to a decline in China’s growth by 1 percentage point depending on the model used and the nature of the shock. The impact could be larger if China’s slowdown and rebalancing coincides with bouts of global financial volatility. There are also opportunities from China’s rebalancing, both in merchandise and services trade, and there is preliminary evidence that some ASEAN-5 economies are already benefiting from these trends.
Modern Magic
Modern Magic by Professor Hoffmann was one of the first books published in English on the art of conjuring during the Victorian era. Hoffmann was considered to be one of the greatest authorities on the theory and practice of magic at that time. This hardcover edition is a facsimile of the 1876 edition and whist some parts of the text are faded, it perfectly readable and makes a beautiful addition to any magician or historian's library.
The Environmental State Under Pressure
In the 1980s, the ideologies of deregulation and privatization formed the start of the debate on the "environmental state" and the 1990s left the debate facing new challenges. This text examines the processes, transformations and continuities related to the topic.
Global Management
This book re-examines management theory `after Globalization'. Combining key names and studies from across the world, it explores the local realities that resist universal theories and that permeate the daily lives of practising managers. The book provides a comprehensive and critical reflection on the widely documented phenomenon of globalization in business. It assesses the implications of the diversity of individual economies and enterprises for general theories of management and concludes by presenting new approaches to the study and research of management and organizations.
A Companion to Portuguese Literature
This companion volume offers an introduction to European Portuguese literature for university-level readers. It consists of a chronological overview of Portuguese literature from the twelfth century to the present day, by some of the most distinguished literary scholars of recent years, leading into substantial essays centred on major authors, genres or periods, and a study of the history of translations. It does not attempt an encyclopaedic coverage of Portuguese literature, but provides essential chronological and bibliographical information on all major authors and genres, with more extensive treatment of key works and literary figures, and a particular focus on the modern period. It is u...
