Template-Type: ReDIF-Paper 1.0 Author-Name: Solita C. Monsod Author-Name-First: Solita Author-Name-Last: Monsod Author-Workplace-Name: School of Economics, University of the Philippines Diliman Title: Power and Privilege: The Philippine Amusement and Gaming Corporation Abstract: The paper focuses on the Philippine Amusement and Gaming Corporation as an example of the dispensation of economic privileges and position to private entities. It traces the evolution of the powers and privileges of this corporation thru a series of presidential decrees, letters of instruction, and executive orders. It then examines the consequences to the economy of the establishment of PAGCOR, in terms of the costs and benefits that have resulted from its operations. The reader is left to draw his own conclusion. The paper end with a series of questions the answer to which would throw more light on the private entities who have benefitted from this situation. Creation-Date: 1985-01 Publication-Status: Published as UPSE Discussion Paper No. DP 1985-01, January 1985 Number: 198501 Handle: RePEc:phs:dpaper:198501 Template-Type: ReDIF-Paper 1.0 Author-Name: Rosa Linda P. Tidalgo Author-Name-First: Rosa Linda Author-Name-Last: Tidalgo Title: The Integration of Women in Philippine Development Abstract: This paper examines how Philippine development planning defined to include formal plans and legislated measure -- has prioritized women's fuller integration in development. A review of previous formal plans brought to the fore government's weak role in rising the status of women. In law, discrimination towards women was seen to arise from their relative physical weakness and their reproductive function. Thus, men have superior civil rights based on the complementary view that they are the family providers while women are governed by labor laws which are ostensibly protective but which actually work against them because they raise the costs of employing women. On the hand, legal equality between the sexes was observed in the areas of citizenship, suffrage, property inheritance and right to education. The paper also tackled the women's role in their own development as manifested in women's organizations. Crisis situations -- from the past foreign dominations to the current national crisis -- were pinpointed to have provided heightened opportunities for women to assert more active roles and greater participation in shaping their world. Creation-Date: 1985-02 Publication-Status: Published as UPSE Discussion Paper No. 1985-02, February 1985 Number: 198502 Handle: RePEc:phs:dpaper:198502 Template-Type: ReDIF-Paper 1.0 Author-Name: Jose Encarnacion, Jr. Author-Name-First: Jose Author-Name-Last: Encarnacion, Jr. Author-Workplace-Name: School of Economics, University of the Philippines Diliman Title: On the Time Consistency of Optimal Plans Abstract: This paper shows that the Kydland and Prescott argument for rules versus discretion -- to the effect that optimal policies are time inconsistent -- is invalid, points out that the Pollak approach does not solve the time inconsistency problem as originally formulated by Strotz, and indicates the simple solution within the Strotz framework. Creation-Date: 1985-03 Publication-Status: Published as UPSE Discussion Paper No. 1985-03, March 1985 Number: 198503 Handle: RePEc:phs:dpaper:198503 Template-Type: ReDIF-Paper 1.0 Author-Name: Raul V. Fabella Author-Name-First: Raul Author-Name-Last: Fabella Author-Workplace-Name: School of Economics, University of the Philippines Diliman Title: An Extension of Fairness in Nash Abstract: The Symmetry axiom which introduces a sense of fairness in the Nash axiom system for the 2-person allocation game does not apply to more general allowable utility spaces. We replace it within the "Minimized inequality axiom" which includes the symmetry axiom. We show that the Nash bargaining solution is robust against this replacement and by Nash's own uniqueness result, still remains unique. Creation-Date: 1985-04 Publication-Status: Published as UPSE Discussion Paper No. 1985-04, April 1985 Number: 198504 Handle: RePEc:phs:dpaper:198504 Template-Type: ReDIF-Paper 1.0 Author-Name: Raul V. Fabella Author-Name-First: Raul Author-Name-Last: Fabella Author-Workplace-Name: School of Economics, University of the Philippines Diliman Title: A Class of Reducible Dynamic Control Problems Abstract: We show that analysis of control problems with a "reduction set," i.e., a subset of the control vector that satisfies certain strong conditions, avoids the "curse of dimensionality." The problem boils down to solving n static equations in n unknowns (the control plus the state variables) and leapfrogs the 2-point boundary value problem that besets more general control problems. Creation-Date: 1985-04 Publication-Status: Published as UPSE Discussion Paper No. 1985-05, April 1985 Number: 198505 Handle: RePEc:phs:dpaper:198505 Template-Type: ReDIF-Paper 1.0 Author-Name: Joseph Y. Lim Author-Name-First: Joseph Author-Name-Last: Lim Author-Workplace-Name: School of Economics, University of the Philippines Diliman Title: The New Structuralist Critique of the Monetarist Theory of Inflation : The Case of the Philippines Creation-Date: 1985-05 Publication-Status: Published as UPSE Discussion Paper No. 1985-06, May 1985 Number: 198506 Handle: RePEc:phs:dpaper:198506 Template-Type: ReDIF-Paper 1.0 Author-Name: Raul V. Fabella Author-Name-First: Raul Author-Name-Last: Fabella Author-Workplace-Name: School of Economics, University of the Philippines Diliman Title: Continuity in Transformation Invariant Social Orderings: Two Impossibilities Abstract: We show that (1) a social ordering on R > 0 that satisfies Strong Paretoness, Invariance with respect to a Positive Proportional Transformation and Lower Semi-Continuity does not exist and (2) that a social ordering or R > 0 that satisfies Weak Paretoness, Invariance with respect to an Affine Transformation and Lower Semi-Continuity in trivial. Creation-Date: 1985-06 Publication-Status: Published as UPSE Discussion Paper No. 1985-07, June 1985 Number: 198507 Handle: RePEc:phs:dpaper:198507 Template-Type: ReDIF-Paper 1.0 Author-Name: Manuel F. Montes Author-Name-First: Manuel Author-Name-Last: Montes Author-Workplace-Name: School of Economics, University of the Philippines Diliman Title: A Model of Income and Income Inequality in the Process of Growth Abstract: This paper proposes a symbolic model that parameterizes some of the elements of Kurnets Inverted-U hypothesis. The model incorporates the following important factors in the development process: savings rate, the capital-output ration, the speed of labor absorption and the rate of growth of profits. Every inverted-U path requires a fixed vector of these parameters so that a change in any of these parameters displaces an economy to another inverted-U path. This result cautions against a mechanical understanding of the income-income inequality relationship in the development process. This paper identifies some important parameters of the inverted-U process that are called the investment coefficient, the trickle-down coefficient, and the concentration coefficient explains how this coefficients are derived from the more basic factors. The model therefore permits the analysis of the impact of different development policies on the inverted-U process. A short discussion of the empirical aspects of the model is also provided. Creation-Date: 1985-07 Publication-Status: Published as UPSE Discussion Paper No. 1985-08, July 1985 Number: 198508 Handle: RePEc:phs:dpaper:198508 Template-Type: ReDIF-Paper 1.0 Author-Name: Florian A. Alburo Author-Name-First: Florian Author-Name-Last: Alburo Author-Workplace-Name: School of Economics, University of the Philippines Diliman Title: Philippine Trade in Manufactures Structural Change and Adjustment Abstract: This paper looks into the recent experience in manufactured exports, especially non-traditional manufactures; Identifies elements that indicate structural change in industry and trade behavior; and analyzes adjustment patterns arising from or in response to trade performance. Put briefly, the paper explores the question why, despite the exhuberant growth of non-traditional manufactured exports in the seventies, did we not achieve a dramatic structural change in industry? The paper argues that the adjustment processes the country took in the light of this export were not conducive to a more dynamic growth in the manufacturing sector as a whole and hence an appreciable structural change. Creation-Date: 1985-08 Publication-Status: Published as UPSE Discussion Paper No. 1985-09, August 1985 Number: 198509 Handle: RePEc:phs:dpaper:198509 Template-Type: ReDIF-Paper 1.0 Author-Name: Dante B. Canlas Author-Name-First: Dante Author-Name-Last: Canlas Author-Workplace-Name: School of Economics, University of the Philippines Diliman Title: Monetary Policy and Economic Activity in a Low-Income Country : An Empirical Investigation Abstract: The paper is an empirical investigation of the output effects of some aspects of monetary policy in a low-income setting. It is argued that the existing political institutions render the fiscal authority dominant over the monetary authority. Using some parsimonious representation of output growth, there is evidence supporting the proposition that unanticipated monetary policy matters. Holding private credit constant, currency in circulation has negative output effects. The econometric evidence is rationalized by invoking choice-theoretic based models of monetary economies that deliver propositions consistent with the evidence. Creation-Date: 1985-08 Publication-Status: Published as UPSE Discussion Paper No. 1985-10, August 1985 Number: 198510 Handle: RePEc:phs:dpaper:198510 Template-Type: ReDIF-Paper 1.0 Author-Name: Florian A. Alburo Author-Name-First: Florian Author-Name-Last: Alburo Title: Import Liberalization and Industrial Lay-Offs Abstract: This paper tests the responsiveness of industrial lay-offs to import liberalization using the 1981-1983 trade liberalization as data period of analysis. Contrary to wide expectations industrial lay-offs of both import substituting and export-oriented industries behave in opposite directions with respect to the variations in imports i.e. the former decrease (instead of increase) their lay-offs while the latter increase (instead of decrease) their lay-offs. Some explanation is given to the contrary findings. Creation-Date: 1985-09 Publication-Status: Published as UPSE Discussion Paper No. 1985-11, September 1985 Number: 198511 Handle: RePEc:phs:dpaper:198511 Template-Type: ReDIF-Paper 1.0 Author-Name: Emmanuel S. de Dios Author-Name-First: Emmanuel Author-Name-Last: de Dios Author-Workplace-Name: School of Economics, University of the Philippines Diliman Title: Protection, Concentration and the Direction of Foreign Investments Creation-Date: 1985-10 Publication-Status: Published as UPSE Discussion Paper No. 1985-12, October 1985 Number: 198512 Handle: RePEc:phs:dpaper:198512 Template-Type: ReDIF-Paper 1.0 Author-Name: Raul V. Fabella Author-Name-First: Raul Author-Name-Last: Fabella Author-Workplace-Name: School of Economics, University of the Philippines Diliman Title: An Extension of Fairness in Nash : A Revision Abstract: The Symmetry axiom which introduces a sense of fairness in the Nash axiom system for the 2-person allocation game does not apply to more general allowable utility spaces. We develop the concept of subsymmetric sets of replace the Symmetry axiom with the "Minimized Inequality Axiom" which includes the Symmetry axiom. We show that the Nash bargaining solution is robust against this generalization and by Nash own uniqueness result, still remains unique. Creation-Date: 1985-11 Publication-Status: Published as UPSE Discussion Paper No. 1985-13, November 1985 Number: 198513 Handle: RePEc:phs:dpaper:198513 Template-Type: ReDIF-Paper 1.0 Author-Name: Joseph Y. Lim Author-Name-First: Joseph Author-Name-Last: Lim Author-Workplace-Name: School of Economics, University of the Philippines Diliman Title: The Distributive Implications of Export-Led Industrialization in a Developing Economy Abstract: This paper uses a Kaleckian model to study the effects of export expansion on income distribution given particular "structural defects" and institutional constraints in a developing economy. The results show that there might be negative impacts on income distribution if the following conditions holds: 1) The bulk of export receipts goes to the payment of imported inputs and capital goods; 2) There are weak productive capacities and bottlenecks to the production of home consumption goods; 3) The export sector is an "enclave" making it difficult for resources to flow from exports goods to home consumption goods and vice-versa; 4) There are institutional factors that prevent the rise of real wages. In such an economy, exports are vital for the reproduction of the system. The solutions to the deleterious effects on income distribution would lie in correcting the "structural defects" rather than export contraction. Creation-Date: 1985-12 Publication-Status: Published as UPSE Discussion Paper No. 1985-14, December 1985 Number: 198514 Handle: RePEc:phs:dpaper:198514 Template-Type: ReDIF-Paper 1.0 Author-Name: Benjamin E. Diokno Author-Name-First: Benjamin Author-Name-Last: Diokno Author-Workplace-Name: School of Economics, University of the Philippines Diliman Title: Some Considerations in the Performance Evaluation of State-Operated Enterprises Abstract: This paper describes a framework for evaluating the financial performance of state-operated enterprise (SOEs). The proposed framework maintains the distinction between commercial enterprises and service-oriented enterprises. In the first case, the sponsoring government is assumed to be concerned with the financial profitability of the enterprise; in the second case, the concern is with the provision of service at reasonable cost-recovery levels. It argues that the financial performance of the enterprise may be attributable to both exogenous market factors and constraints that are controllable through public policy, and that one of the objectives of any performance appraisal should be to identify these barriers to profitability or cost-recovery. Creation-Date: 1985-12 Publication-Status: Published as UPSE Discussion Paper No. 1985-15, December 1985 Number: 198515 Handle: RePEc:phs:dpaper:198515