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The Philippine review of economics最新文献

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Introduction to the symposium on the care economy 护理经济研讨会介绍
The Philippine review of economics Pub Date : 2023-06-30 DOI: 10.37907/2erp3202j
M. Floro, Elizabeth King
{"title":"Introduction to the symposium on the care economy","authors":"M. Floro, Elizabeth King","doi":"10.37907/2erp3202j","DOIUrl":"https://doi.org/10.37907/2erp3202j","url":null,"abstract":"The articles in this Symposium on the Care Economy contend that a better understanding of the care work that households provide would deepen our understanding of how economies operate and why public policies may or may not have their desired impact.","PeriodicalId":91420,"journal":{"name":"The Philippine review of economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48812511","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The enduring impact of the pandemic on gender patterns of paid and unpaid work: evidence from time-use data in Turkey 大流行病对有偿和无偿工作性别格局的持久影响:来自土耳其时间使用数据的证据
The Philippine review of economics Pub Date : 2023-06-30 DOI: 10.37907/5erp3202j
Ipek Ilkkaracan, Emel Memiş
{"title":"The enduring impact of the pandemic on gender patterns of paid and unpaid work: evidence from time-use data in Turkey","authors":"Ipek Ilkkaracan, Emel Memiş","doi":"10.37907/5erp3202j","DOIUrl":"https://doi.org/10.37907/5erp3202j","url":null,"abstract":"This paper examines changes in the gender patterns of paid and unpaid work in Turkey from the pre-pandemic period to the early pandemic phase under lockdown conditions and the late pandemic phase under relative normalization. We analyze data from three surveys fielded during these periods. We first adjust for demographic shifts during the pandemic to isolate the changes in paid and unpaid work. We then examine the impact of new work arrangements during the pandemic. Pooled regression analysis shows that paid work time has largely returned to pre-pandemic levels under partial normalization. Unpaid work time has decreased relative to the lockdown period, but it remains higher than pre-pandemic, particularly for women but also for men. The more enduring effects of the pandemic pertain to paid work, attitudes toward teleworking, and the provisioning of social care services. The share of teleworking has increased for women and men.","PeriodicalId":91420,"journal":{"name":"The Philippine review of economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45531335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Unpaid eldercare and its impact on the US labor supply 无偿养老及其对美国劳动力供应的影响
The Philippine review of economics Pub Date : 2023-06-30 DOI: 10.37907/6erp3202j
Tanima Ahmed, M. Floro
{"title":"Unpaid eldercare and its impact on the US labor supply","authors":"Tanima Ahmed, M. Floro","doi":"10.37907/6erp3202j","DOIUrl":"https://doi.org/10.37907/6erp3202j","url":null,"abstract":"Globally, the dependency ratio is rising due to increase in aging population. Individuals, especially women are challenged when choosing between participating in the labor market and providing care. Using 2011-2017 American Time Use Survey data for a subsample of individuals aged 25- 61 years, we examine the effect of frequent eldercare provision on labor force participation in the US using bivariate probit instrumental variable approach. Our findings suggest that unpaid eldercare performed frequently reduces labor force participation. Female frequent providers are likely to have lower labor force participation compared to their male counterparts. Robustness and sensitivity checks confirm these findings.","PeriodicalId":91420,"journal":{"name":"The Philippine review of economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44334264","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Women’s market work and childcare policies in Colombia: policy simulations using a computable general equilibrium model 哥伦比亚的妇女市场工作和儿童保育政策：使用可计算一般均衡模型的政策模拟
The Philippine review of economics Pub Date : 2023-06-30 DOI: 10.37907/4erp3202j
M. Cicowiez, H. Lofgren, Ana Tribin, Tatiana Mojica
{"title":"Women’s market work and childcare policies in Colombia: policy simulations using a computable general equilibrium model","authors":"M. Cicowiez, H. Lofgren, Ana Tribin, Tatiana Mojica","doi":"10.37907/4erp3202j","DOIUrl":"https://doi.org/10.37907/4erp3202j","url":null,"abstract":"In recent decades, Colombia has made significant progress towards achieving gender equality in its labor market. However, persistent inequalities in unpaid care work remain a significant challenge, resulting in heavy care workload for women. This study evaluates the impact of three government policy options that can help reduce women's unpaid work: subsidy for childcare services provided by the market, an increase in public provision of childcare services, and cash transfers to households with children using a care-extended computable general equilibrium model (CGE) calibrated to Colombian data. The results show that while all policies improve family economic situations by increasing private consumption, childcare provision, whether through subsidies or as a public good, has a more significant impact on increasing female market work while cash transfers increase unpaid work performed inside the home. These findings underscore the importance of policy design and their analysis regarding their impact on gender inequalities, labor supply, and economic growth.","PeriodicalId":91420,"journal":{"name":"The Philippine review of economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44981381","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Nowcasting domestic liquidity in the Philippines using machine learning algorithms 使用机器学习算法预测菲律宾国内流动性
The Philippine review of economics Pub Date : 2022-12-01 DOI: 10.37907/1erp2202d
Juan Rufino Reyes
{"title":"Nowcasting domestic liquidity in the Philippines using machine learning algorithms","authors":"Juan Rufino Reyes","doi":"10.37907/1erp2202d","DOIUrl":"https://doi.org/10.37907/1erp2202d","url":null,"abstract":"This study utilizes a number of algorithms used in machine learning to nowcast domestic liquidity growth in the Philippines. It employs regularization (i.e., Ridge Regression, Least Absolute Shrinkage and Selection Operator (LASSO), Elastic Net (ENET)) and tree-based (i.e., Random Forest, Gradient Boosted Trees) methods in order to support the BSP’s current suite of macroeconomic models used to forecast and analyze liquidity. Hence, this study evaluates the accuracy of time series models (e.g., Autoregressive, Dynamic Factor), regularization, and tree-based methods through an expanding window. The results indicate that Ridge Regression, LASSO, ENET, Random Forest, and Gradient Boosted Trees provide better estimates than the traditional time series models, with month-ahead nowcasts yielding lower Root Mean Square Error (RMSE) and Mean Absolute Error (MAE). Furthermore, regularization and tree-based methods facilitate the identification of macroeconomic indicators that are significant to specify parsimonious nowcasting models.","PeriodicalId":91420,"journal":{"name":"The Philippine review of economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45008590","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Insights on inflation expectations in the Philippines from a household survey 菲律宾一项家庭调查对通胀预期的洞察
The Philippine review of economics Pub Date : 2022-12-01 DOI: 10.37907/3erp2202d
Faith Christian Q. Cacnio, Joselito R. Basilio
{"title":"Insights on inflation expectations in the Philippines from a household survey","authors":"Faith Christian Q. Cacnio, Joselito R. Basilio","doi":"10.37907/3erp2202d","DOIUrl":"https://doi.org/10.37907/3erp2202d","url":null,"abstract":"The study contributes to the literature on expectations by providing insights on household expectations from an emerging market and inflation targeting country like the Philippines. Using the results of the Consumer Expectations Survey (CES), a quarterly household survey conducted by the Bangko Sentral ng Pilipinas (BSP), the study is the first to look at the characteristics and determinants of household inflation expectations in the Philippines at a granular level. Results show that survey-based household expectations in the country are not rational. Filipino households exhibit an upward bias in their forecast of future inflation and they tend to rely more on information about past inflation to form their expectations. Nonetheless, in recent years, households have started to incorporate information about future outcomes in their inflation expectations process. To determine the factors that drive household expectations in the Philippines, aggregated (i.e., time series) and disaggregated (i.e., pooled data) data from CES quarterly survey rounds between 2010 and 2020 are used on a standard inflation expectations model. Empirical results point to a significant effect of income conditions, perceptions on economic and financial conditions, the inflation target, and demographic factors (e.g., educational attainment, marital status) on the formation of household expectations in the Philippines. Based on the findings and observations, the study draws insights for central bank communication strategy, particularly in influencing household expectations.","PeriodicalId":91420,"journal":{"name":"The Philippine review of economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43574636","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The long and the short of it: revisiting the effects of microfinance-oriented banks on household welfare in the Philippines 长话短说:重新审视小额信贷银行对菲律宾家庭福利的影响
The Philippine review of economics Pub Date : 2022-12-01 DOI: 10.37907/6erp2202d
Cherry Wyle G. Layaoen, Kazushi Takahashi
{"title":"The long and the short of it: revisiting the effects of microfinance-oriented banks on household welfare in the Philippines","authors":"Cherry Wyle G. Layaoen, Kazushi Takahashi","doi":"10.37907/6erp2202d","DOIUrl":"https://doi.org/10.37907/6erp2202d","url":null,"abstract":"Although evidence on the impact of microfinance is continuously accumulating, little is known about how long-term presence of microfinance institutions affects household welfare. This study addresses the issue by evaluating a household-level panel data and a unique event in the Philippines when the microfinance industry was mainstreamed and commercialized in the banking sector with microfinance-oriented banks (MOBs), which began to open in 2004. We find that the positive effects of longer MOB presence on entrepreneurial income and activities diminish or even regress over time. Moreover, no significant impacts are noted on real expenditures. Heterogeneity analysis further reveals that no immediate or incremental effects were observed on real expenditures of poor families and the immediate positive effect on entrepreneurial income and activities did not accrue in the long run. Lastly, no significant long-term impacts are noted on real expenditures as well as likelihood of and income from entrepreneurial and wage and salary activities of non-poor families from MOB presence. We, however, argue that MOB presence may reduce vulnerability as it affords households to be entrepreneurs.","PeriodicalId":91420,"journal":{"name":"The Philippine review of economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46764743","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does bank competition affect bank risk-taking differently? 银行竞争对银行风险承担的影响是否不同?
The Philippine review of economics Pub Date : 2022-12-01 DOI: 10.37907/2erp2202d
V. Bayangos
{"title":"Does bank competition affect bank risk-taking differently?","authors":"V. Bayangos","doi":"10.37907/2erp2202d","DOIUrl":"https://doi.org/10.37907/2erp2202d","url":null,"abstract":"This paper examines the presence of two competing views—“competition-fragility” and “competition-stability”—in analyzing the impact of competition on bank stability. The approach is to first construct measures of bank competition from a unique dataset of balance sheet and income statements for 542 banks operating in the Philippines from March 2010 to December 2020. The paper then estimates the impact of these competition measures on solvency risk or the risk of being unable to absorb losses with the available capital across universal/commercial banks (U/KBs), thrift banks (TBs) and rural/cooperative banks (R/CBs) industries. Using panel quantile regression, the results reveal that, at the industry level, bank competition reduces solvency risk and that it enhances bank stability. Looking at the risk distribution, the study shows the presence of the competition-fragility and competition-stability hypotheses holding simultaneously for U/KBs suggesting that the effect of competition depends crucially on the underlying individual bank risk. Importantly, the results highlight that the relationship between competition and bank risk is sensitive to other bank-specific characteristics and macro-financial factors related to extent of diversification strategy, cost-to-income ratio, deposit growth, capitalization, changes in the physical banking networks, and growth of real Gross Domestic Product.","PeriodicalId":91420,"journal":{"name":"The Philippine review of economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42617145","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How do exchange rates affect the Big One? An empirical analysis of the effect of exchange rates on RCEP exports using the gravity model 汇率如何影响大经济？汇率对RCEP出口影响的引力模型实证分析
The Philippine review of economics Pub Date : 2022-12-01 DOI: 10.37907/5erp2202d
Jose Adlai Tancangco
{"title":"How do exchange rates affect the Big One? An empirical analysis of the effect of exchange rates on RCEP exports using the gravity model","authors":"Jose Adlai Tancangco","doi":"10.37907/5erp2202d","DOIUrl":"https://doi.org/10.37907/5erp2202d","url":null,"abstract":"The often disparate and conflicting effects of exchange rate on bilateral exports reported by previous literature necessitate a further study of the relationship between monetary and trade variables. This study contributes to the stream of literature by analyzing monetary variables such as exchange rate volatility, exchange rate misalignment, exchange rate regimes, and real effective exchange rates with bilateral aggregate exports through a sample of 15 nations comprising the Regional Comprehensive Economic Partnership (RCEP) region for the years 1996 to 2017 using Ordinary Least Squares and Poisson Pseudo-Maximum Likelihood panel fixed effects regression. Results indicate that a country’s real effective exchange rate ratio and the exchange rate volatility for countries under a floating exchange rate regime reduce aggregate exports.","PeriodicalId":91420,"journal":{"name":"The Philippine review of economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44984165","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Heterogenous impact of monetary policy on the Philippine rural banking system 货币政策对菲律宾农村银行体系的异质影响
The Philippine review of economics Pub Date : 2022-12-01 DOI: 10.37907/4erp2202d
Eloisa T. Glindro, J. C. Armas, V. Tolentino, Lorna Dela Cruz-Sombe
{"title":"Heterogenous impact of monetary policy on the Philippine rural banking system","authors":"Eloisa T. Glindro, J. C. Armas, V. Tolentino, Lorna Dela Cruz-Sombe","doi":"10.37907/4erp2202d","DOIUrl":"https://doi.org/10.37907/4erp2202d","url":null,"abstract":"This paper shows the differential impact of monetary policy on the lending behavior of rural banks, with the bank lending channel being operational in small rural banks. While big rural banks are able to protect their lending portfolio from contractionary monetary policy by the size of their balance sheet, small rural banks with less diversified funding portfolio cannot. Moreover, highly capitalized rural banks are more inclined to protect their capital than expand their lending portfolio, following monetary tightening and higher capital requirement. The insignificance of gross domestic product (GDP) growth may reflect weakness in effective loan demand and lack of diversification that could have also impinged on the earning capacity of rural banks, as supported by initial estimates on the drivers of rural bank profitability. The finding on heterogeneous effects of monetary policy on rural banks has a secondary implication of lending credence to the principle of proportionality embodied in the BSP’s bank regulatory framework.","PeriodicalId":91420,"journal":{"name":"The Philippine review of economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45449942","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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