Analysis of pertinent data shows that Krugman’s warning about the serious repercussions of a number of disinflation methods is relevant for the Philippine case. While financial managers have correctly responded during the crisis years, policy responses during the recovery phases from 1986-1995 have been myopic. Analysis also indicates that prevention of real effective exchange rate given volatile capital flows requires interest targeting from the Central Bank.
Citations
This publication has been cited 5 times
In other Publications
- Bayangos, V.B. and K. Jansen. 2009. The macroeconomics of remittances in the Philippines. ISS Working Papers - General Series 19676. International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
- Bayangos, Veronica and Karel Jansen. 2010. The macroeconomics of remittances in the Philippines. Revista ESPE - Ensayos sobre Política Económica, 28, no. 61, 18-58. Banco de la Republica de Colombia.
- Bayangos, Veronica and Karel Jansen. 2010. The macroeconomics of remittances in the Philippines. Revista ESPE - Ensayos Sobre PolÃtica Económica, 28, no. 61, 18-58. Banco de la República - ESPE.
- Hossain, Akhand Akhtar. 2015. The evolution of central banking and monetary policy in the Asia-Pacific. Books, 14611. Edward Elgar Publishing, number.
- Valera, Harold Glenn A., Mark J. Holmes, and Gazi M. Hassan. 2017. How credible is inflation targeting in Asia? A quantile unit root perspective. Economic Modelling, 60(C), 194-210. Elsevier.
