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Modeling Inflation in the Philippines: The P-Star Model Approach

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  • Muzafar Shah Habibullah
  • Peter Smith

Abstract

The P-Star approach of modeling inflation has been widely tested for the United States and other developed countries. However, the robustness of the P-Star model for developing countries has received less attention among the researchers. The purpose of this study is to test the applicability of the P-Star approach, which respect to a developing country ¨C the Philippines. Using a sample period of 1981:1 to 1994:4, our results suggest that the monetary data for the Philippine support the P-Star model approach. Our results indicate that broad money M2 provides an anchor for the Philippines inflation during the period under study.

Suggested Citation

  • Muzafar Shah Habibullah & Peter Smith, 1998. "Modeling Inflation in the Philippines: The P-Star Model Approach," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 35(1), pages 87-96, June.
    • Handle: RePEc:phs:prejrn:v:35:y:1998:i:1:p:87-96
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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/81/503
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    Cited by:

    1. Lillian Kamal, 2014. "Do GAP Models Still have a Role to Play in Forecasting Inflation?," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 8(3), pages 1-12.

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