Real Business Cycles in the Philippines
18 Pages Posted: 9 Aug 2018
Date Written: March 06, 2018
In this paper we want to provide stylized facts about the business cycles in the Philippines using Baxter and King and HP filter. The paper aims to add to the existing literature in characterizing Philippines business cycle, specifically we want to describe not only the characteristic of the governing cyclical component but as well the length of each cycles. The study able to describe 3 business cycles within 1977 to 2016 in Philippines macroeconomics time series. The first cycle of 1977 – 1983 is the most volatile period which in this period include the balance of payment crisis of 1985. The last cycle of 1997 – 2016 shows the least volatile period where the Philippines experience mild political uncertainties.
Keywords: secular trend, business cycles, moving averages, volatility
JEL Classification: E30, E32 , E39
Suggested Citation: Suggested Citation