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Copyright: International Monetary Fund....
This paper uses cross-section and panel data to examine the determinants of the current account. The empirics find a significant impact of the stage o...
A Free Lunch?
This paper extends the analysis of central bank independence to a model in which there is more than one policymaker. It shows that the degree of centr...
In recent years, an inflation targeting framework for monetary policy has been adopted in a number of industrial countries. This paper discusses the p...
Previous tests for convexity in the Phillips curve have been biased because researchers have employed filtering techniques for the NAIRU that have bee...
Selected Issues
This Selected Issues paper reviews the economic development in the Philippines during the 1990s. Growth, which virtually came to a halt in the early 1...
Monetary policy in the Philippines has had multiple objectives. Moreover, shifts in money demand and the money multiplier have made base money a less ...
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