This paper examines whether the current level of debt in the country, given the national government's fiscal policy and plans, remains on a sustainable path. By end-2021, a year after the peak of the public health and economic crisis brought about by the COVID-19 pandemic, the country's...

This paper, which will be released as the lead chapter of the 2021-2022 PIDS Economic Policy Monitor, reviews the Philippines' macroeconomic performance in 2021 and the first half of 2022, analyzes recent developments and challenges shaping the economy's near-term outlook, and presents...

The COVID-19 crisis created conditions for digital finance to accelerate financial inclusion in the Philippines. Anecdotal and survey data suggest that the pandemic has indeed spurred large gains in financial inclusion in the country, with adoption of digital finance as a strong driver. This...

This paper, which will be released as the lead chapter of the 2022-2023 PIDS Economic Policy Monitor, examines the economic performance of the Philippines for 2022 and the first half of 2023. It presents conditions shaping the global and regional outlook, projections on growth and consumer...

This study presents a small macroeconometric model of the Philippines. The model covers the basic parts of the economy-namely, private consumption and investment, international trade, employment, prices, and basic monetary sectors. Behavioral equations are estimated in errorcorrection form...

While the COVID-19 pandemic's effects on the Philippine economy have been widely chronicled, there has not been an effort at an ex-post quantification of the pandemic's impacts using counterfactual analysis. This paper aims to fill this gap. Using a modified version of the PIDS small...

This study examines the impact of the COVID-19 pandemic on the Philippine labor market, focusing on employment and real wages and their respective outcomes across sectors and various worker characteristics. To analyze the pandemic's impacts on employment outcomes at various stages of the crisis,...

This study presents a small macroeconometric model with a fiscal sector, extending the model presented in Debuque and Corpus (2022). The model retains the original core blocks of domestic demand, international trade, employment, prices, and monetary sectors, and adds a fiscal sector consisting...

This is the lead chapter of the 2023-2024 Philippine Institute for Development Studies (PIDS) Economic Policy Monitor (EPM). It examines the economic performance of the Philippines for 2023 and at most the third quarter of 2024. It presents conditions driving global, regional, and national...

We explored the fiscal impacts of climate-related phenomena in the Philippines and offer policy recommendations for creating a climate-resilient economy. By employing a threepronged empirical approach (i.e., time series, panel data, cross-section analyses), we probed on the nuanced interplay of...