Regime switching in inflation targeting under conditions of public debt in the Philippines / (Record no. 78275)
[ view plain ]
| 000 -LEADER | |
|---|---|
| fixed length control field | 02185nab a2200241Ia 4500 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | PILC |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20221123182325.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 180418s9999 xx 000 0 und d |
| 040 ## - CATALOGING SOURCE | |
| Transcribing agency | MANILA TYTANA COLLEGES LIBRARY |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Sotocinal, Noli R. |
| 245 #0 - TITLE STATEMENT | |
| Title | Regime switching in inflation targeting under conditions of public debt in the Philippines / |
| Statement of responsibility, etc. | Noli R. Sotocinal |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Date of publication, distribution, etc. | 2015 |
| 336 ## - CONTENT TYPE | |
| Content type term | text |
| 337 ## - MEDIA TYPE | |
| Media type term | unmediated |
| 338 ## - CARRIER TYPE | |
| Carrier type term | volume |
| 440 ## - SERIES STATEMENT/ADDED ENTRY--TITLE | |
| Title | Philippine Management Review |
| Number of part/section of a work | 22, page 35-52 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | A standard inflation targeting framework assumes the absence of fiscal dominance, and abstracts from the effects of unbalanced fiscal positions and public debt financing. This assumption is relaxed by adding the notion of a fiscal gap into the standard inflation targeting model. The financing of fiscal gaps is assumed to be largely implemented through the creation or retirement of public debt, which then affects the premium levied on Philippine interest and exchange rates in the international and domestic capital markets. A Markovian Regime Switching Vector Autoregression model based on an extended inflation targeting system under the presence of a fiscal gap and public debt is specified and estimated using Philippine data. The research reveals that the fiscal gap significantly impacts on the target variables in the inflation targeting system and directly affects the short-term interest rate contrary to the standard assumption of zero fiscal dominance. Furthermore, there is evidence of the existence of interest rate regimes, such that activist fiscal policies in the low output regimes are only effective in the short term, as their impact on interest rates are larger and tend to lead to interest rate increases beyond those intended by the monetary authorities. The research's findings support the notion that effective macroeconomic management requires some degree of policy coordination between the monetary and fiscal authorities. |
| 521 ## - TARGET AUDIENCE NOTE | |
| Target audience note | Business Administration |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Inflation (Finance). |
| Geographic subdivision | Philippines. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Fiscal limitations (Economic policy). |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Koha item type | Analytics |
| Source of classification or shelving scheme | Library of Congress Classification |
| 998 ## - LOCAL CONTROL INFORMATION (RLIN) | |
| Cataloger's initials, CIN (RLIN) | 81303 |
| First Date, FD (RLIN) | 139666 |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Home library | Current library | Shelving location | Date acquired | Total Checkouts | Date last seen | Price effective from | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Library of Congress Classification | Manila Tytana Colleges Library | Manila Tytana Colleges Library | REFERENCE SECTION | 04/18/2018 | 04/18/2018 | 04/18/2018 | Articles |