DSGE policy tool adapted by Bangko Sentral yields biased insights 340.0
DSGE is the newest type of policy analysis tool adapted by the Bangko Sentral(BSP). It complements the existing set of econometric models it uses as aids in policy making, particularly inflation targeting. Its quite-a-mouthful and technical long name is Dynamic Stochastic General Equilibrium. As with the Corden and Neary framework that BSP analysts used in [...]
Dutch disease raised real exchange rate and caused deindustrialization 339.0
Our leading policy technocrats are near the leading edge in taking up innovative policy analysis tools for the economy – to analyze for possible Dutch disease and for a small model that accounts for the Lucas critique. I discovered two gems from the Bangko Sentral ng Pilipinas (BSP) policy group while researching for my previous [...]
Technocrats quietly fortify institutions as Filipino politicos bicker 338.0
Technocrats have been asked to temporarily govern Greece and Italy as the professional politicians seem fearful of doing the necessary and lose votes. We are fortunate that Filipino technocrats in the economics sphere like Finance, the Bangko Sentral ng Pilipinas (BSP) and Budget and Management are working well with President Aquino even as the political [...]
Political Science is natural limit to a joyful journey of synthesis 337.0
Political science seems the natural limit to an enjoyable journey of synthesis that started with innovation. For an emerging market, I always believed that Government has a big role to play in catch up development. This is proven especially by the success of our neighbors in East Asia. The question is more about how to [...]
Crises cracking globalization along the varieties of capitalism 336.0
Varieties of capitalism is a line of inquiry in political science for describing capitalism’s broad brush based on the elements that make it work. Professor July Teehankee of La Salle introduced the approach to me by recommending the Hall and Soskice book pictured below left. Other than Cuba and North Korea, most of the world [...]
US awards for Science and for Technology and Innovation 335.0
President Obama recently awarded national medals to seven scientific researchers and five technologists and innovators. The awards caught my eye because the Americans separated the medals for science from the medals for technology and innovation. The way the awards are granted and the work accomplished by the medal winners indicate to me the right policy [...]
Government productivity growth also needed for inclusive development 334.0
Other than installing entrepreneurship and innovation policy for the private sector, big improvements in government productivity are also needed to achieve inclusive development. Still, if you search for “government productivity” in Google, you will not find a direct reference to the subject you have in mind. Strange for what ought to be a subject that [...]
Innovation Policy supplies the dynamism for inclusive development 333.0
In the immediately previous post on October 4, Inclusive development needs an innovation and entrepreneurship policy, I introduced a definition of inclusive development. I argued that the two solutions suggested by static analysis and equilibrating snapshot from macroeconomics – public-private partnership focused on infrastructure as target for investment and conditional cash transfer as safety net [...]
ASEAN maritime security is better served by Asian collective security 330.0
I think the Aquino Administration is 100% correct in visiting Japan and discussing the Spratlys after sponsoring the first ever ASEAN Maritime security meet on the West Philippine Sea in Manila. We ought to initiate discussions on ASEAN maritime security with South Korea as well which is in the same boat as Japan as far [...]
ASEAN integration needs political will from a sense of shared history 327.0
As an exercise in futurology, TrendNovation Southeast web magazine asked me in April 2011 to write a scenario template on the future of ASEAN integration fit to go into a Delphi process. The magazine is devoted to discussions of long-term technological, social and political trends in Southeast Asia. Linked here, the published article is entitled [...]
Creativity lessons from Miles doing a year of shopping from her closet 326.0
Studying Miles’s new blog, “365 Days of Shopping … In My Own Closet,” refreshed my learnings on creativity. Miles was a former student in entrepreneurial finance. This discovery led to a Facebook conversation on creativity that I re-post below and a new friendship as the teacher becomes the student. Miles’s creativity sparkles in her blog [...]
Libertarianism and the US$ via Eichengreen on Exorbitant Privilege
There is a thoughtful group of Filipinos who believe in Libertarianism. They would very much like for the ideology to be adopted in the Philippines. I have long discussions with some of them on Facebook on its aspects like size and role of government and individual liberty, taxes and a return to the gold standard. [...]
