Media and Research - Publications and Reports

​​​​​​​​​​​​​​​​​BSP Working Paper Series​



The BSP Working Paper Series constitutes studies relevant to central banks, which are conducted by BSP researchers and occasionally, in collaboration with external contributors. The working papers are reviewed by the Editorial Committee, led by the Deputy Governor of the Monetary and Economics Sector.

Completed working papers are published annually for the purpose of soliciting comments and discussion for further refinements. The views and opinions expressed are those of the author(s) and do not necessarily reflect those of the Bangko Sentral ng Pilipinas. Authors keep the copyright and hence, improved versions of working papers may be submitted to peer-reviewed journals at any time.



WPS No. Author Title Date
2022‑06 Marcus Jude P. San Pedro, Dennis M. Bautista, Jan Christopher G. Ocampo, and Mark Rex S. Romaraog An Application of Large Bayesian Vector Autoregressive (BVAR) Model in Nowcasting the Philippine Economy August 2022
2022‑05 Jean Christine A. Armas and Nerissa D. De Guzman Introducing a multi-dimensional financial development index for the Philippines July 2022
2022‑04Juan Rufino M. ReyesNowcasting Domestic Liquidity in the Philippines Using Machine Learning AlgorithmsMarch 2022
2022‑03 Jo-Anne B. Razon, Joel Y. Sibug and Xyza Jane S. Templonuevo Benchmarking Study on the Incorporation of Braille Functionality in Philippine Banknotes February 2022
2022‑02 Joan Christine S. Allon, Dennis M. Bautista and Jasmin E. Dacio Nowcasting Inflation: A State-Space Approach using High-Frequency Data February 2022
2022‑01 Adrian Matthew G. Glova and Roy R. Hernandez Balance Sheet Approach to Forecasting Currency in Circulation January 2022
2021‑03 Jean Christine A. Armas Spillover risks from emerging economies' loss of confidence: Insights from the G-Cubed model simulations December 2021
2021‑02 Bernadette Marie M. Bondoc and Christofer A. Martin Market Herding and Market Stress in the EMEAP Economies June 2021
2021‑01 Reynalyn G. Punzalan and Roberto Leon-Gonzalez Microeconomic and Macroeconomic Determinants of Non-performing Loans: The Case of Philippine Commercial and Savings Banks May 2021
2020‑12 Sarah Jane Alarcon, Paul Reimon Alhambra, Rosemarie Amodia and Dennis Bautista Policy Analysis Model for the Philippines December 2020
2020‑11 Jean Christine A. Armas Is bank lending channel of monetary policy evident in the Philippines? A dynamic panel data approach December 2020
2020‑10 Vidal Marvin C. Gabriel, Dennis M. Bautista, and Cherrie R. Mapa Forecasting regional inflation in the Philippines using machine learning techniques: A new approach October 2020
2020‑09 Nickson J. Cabote and Justin Ray Angelo J. Fernandez Distributional Impact of Monetary Policy: Evidence from The Philippines October 2020
2020‑08 Eloisa T. Glindro, Jean Christine A. Armas, V. Bruce J. Tolentino, and Lorna Dela Cruz-Sombe Heterogenous Impact of Monetary Policy on the Philippine Rural Banking System September 2020
2020‑07 Jean Christine A. Armas and Pamela Kaye A. Tuazon Revealing investors' sentiment amid COVID‑19: the Big Data evidence based on internet searches September 2020
2020‑06 V. Bruce J. Tolentino and Beulah Maria de la Pena Deregulation and Tariffication At Last: The Saga of Rice Sector Reform in the Philippines July 2020
2020‑05 Eloisa T. Glindro, Hazel C. Parcon-Santos, Faith Christian Q. Cacnio, and Marites B. Oliva Shifting macroeconomic landscape and the limits of the BSP's pandemic response June 2020
2020‑04 Zernan C. Talabong Do Prudential Regulations Affect Bank Lending Rates? Insights from Philippine Banks Using an Accounting-Based Approach June 2020
2020‑03 Veronica B. Bayangos, Rafael Augusto D. Cachuela and Fatima Lourdes E. Del Prado Impact of Extreme Weather Episodes on the Philippine Banking Sector: Evidence Using Branch-Level Supervisory Data June 2020
2020‑02 Joselito R. Basilio and Faith Christian Q. Cacnio Relative price changes, asymmetric adjustments and aggregate inflation: Evidence from the Philippines June 2020
2020‑01 Eloisa T. Glindro, Hazel C. Parcon-Santos, Faith Christian Q. Cacnio, Marites B. Oliva, and Laura L. Ignacio. COVID‑19 Exit Strategies: How Do We Proceed? May 2020
2019‑04 Charday V. Batac, Eduard Joseph D. Robleza I, Jan Christopher G. Ocampo, and Cherrie F. Ramos BSPeak: A Text Analysis of BSP's Communications November 2019
2019‑03 Ramon Moreno, Hazel Parcon-Santos, and John Michael Rennie Hallig A Preliminary Assessment of Drivers of Philippine FX Market Liquidity October 2019
2019‑02 Veronica B. Bayangos and Jeremy L. De Jesus Have Domestic Prudential Policies Been Effective: Insights from Bank-Level Property Loan Data March 2019
2019‑01 Cherry Wyle G. Layaoen and Vernalin Grace F. Domantay Do Capital Regulations Influence Banks' Holding of "Excess Capital" March 2019
2018‑01 Hazel C. Parcon-Santos Foreign Exchange Interventions, Capital Outflows, and Financial Vulnerabilities in Selected Asian Emerging Economies November 2018
2018‑01 Roberto S. Mariano, Suleyman Ozmucur, Veronica B. Bayangos, Faith Christian Q. Cacnio, and Marites B. Oliva Review of the Potential Output and Output Gap Estimation Models of the Bangko Sentral ng Pilipinas October 2018
2017‑01 Veronica B. Bayangos Capital Flow Measures and Domestic Macro Prudential Policy in Asian Emerging Economies: Have These Been Effective? June 2017
2016‑02 Eufrocinio M. Bernabe, Jr., Hazel C. Parcon-Santos and John Michael Rennie G. Hallig Spillovers in ASEAN-5 Equity Markets July 2016
2016‑01 Veronica B. Bayangos, Lilia V. Elloso, John Michael Rennie G. Hallig, Jodeth Nina R. Yeung and April Michelle D. Salamatin The Impact of Foreign Exchange Liberalization Reforms on the Philippine Economy: An Initial Assessment March 2016
2015‑01 Laura L. Ignacio, Hazel C. Parcon-Santos, Teresita B. Deveza, Maria Fatima C. Paule-de Leon, and Jean Christine A. Armas Reformulating Effective Exchange Rates: Does the Exchange Rate Matter For Trade? June 2015
2013?01 Francisco G. Dakila, Jr., Veronica B. Bayangos and Laura L. Ignacio Identifying Sectoral Vulnerabilities and Strengths for the Philippines: A Financial Social Accounting Matrix Approach July 2013
2012‑02 Hazel C. Parcon?Santos and Eufrocinio M. Bernabe, Jr. The Macroeconomic Effects of Basel III Implementation in the Philippines: A Preliminary Assessment October 2012
2012‑01 Veronica B. Bayangos Going With Remittances: the Case of the Philippines July 2012
2010‑02 Eloisa T. Glindro and Vic K. Delloro Identifying and measuring Asset Price Bubbles in the Philippines June 2010
2010‑01 Veronica B. Bayangos and Irene T. Estigoy A Geometric Price Index for the Philippines: A Preliminary Assessment March 2010
2009‑01 Paul D. McNelis, Eloisa T. Glindro, Ferdinand S. Co, and Francisco G. Dakila, Jr. Macroeconomic Model for Policy Analysis and Insight (a Dynamic Stochastic General Equilibrium Model for the BSP) December 2009
2008‑02 Agnes M. Yap and Cristeta B. Bagsic Adjustments in the Face of Peso Volatility: Perspective from the Past and Policy Directions September 2008
2008‑01 Haydee L. Ramon Forecasting the Volatility of Philippine Inflation Using GARCH Models September 2008
2007‑02 Francisco G. Dakila, Jr. and Racquel A. Claveria Identifying the Determinants of Overseas Filipinos' Remittances: Which Exchange Rate Measure is Most Relevant? January 2007
2007‑01 Paul D. McNelis and Cristeta B. Bagsic Output Gap Estimation for Inflation Forecasting: The Case of the Philippines August 2007
2006‑02 Cristela Goce-Dakila and Francisco G. Dakila, Jr. Modeling the Impact of Overseas Filipino Workers Remittances on the Philippine Economy: An Inter-Regional and Economy-Wide Approach September 2006
2006‑01 Cristeta B. Bagsic and Eloisa T. Glindro Bangko Sentral ng Pilipinas Modernization: A Policy Perspective August 2006


Created:6/17/2020 3:03 PM   by:  Pambid Frederick D.
Modified:8/9/2022 12:44 PM   by:  Pambid Frederick D.