Template-Type: ReDIF-Article 1.0 Author-Name: Rolando A. Danao Title: Strict Convexity of the Upper Level Sets of Strictly Quasiconcave Functions Abstract: This paper shows that a necessary condition for strict quasiconcavity is that each level set is contained in the boundary of the associated upper level set. This condition and the strict convexity of upper level sets are sufficient for strict quasiconcavity and are also necessary when the function is continuos with a strictly convex domain. Journal: Philippine Review of Economics Pages: 1-7 Volume: 27 Issue: 1 Year: 1990 Month: June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/260/737 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:27:y:1990:i:1:p:1-7 Template-Type: ReDIF-Article 1.0 Author-Name: Emmanuel S. de Dios Title: Preliminary Notes on Modes of Production Abstract: For the same technology, historically observed modes of organizing labor- slavery, serfdom, and freeholding- are compared in terms of Pareto-superiority. Conditions are sought under which one is superior to the other. Journal: Philippine Review of Economics Pages: 8-18 Volume: 27 Issue: 1 Year: 1990 Month: June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/261/738 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:27:y:1990:i:1:p:8-18 Template-Type: ReDIF-Article 1.0 Author-Name: Raul V. Fabella Title: Hymer-Resnick and East Asian Industries in Open Rural Economies: Delineation by Seasonal Responses Abstract: We model the differential responses of rural industries in a Dutch Disease framework. The farm sector, F, is subject to seasonal undulation, is exportable; the Z-goods sector is importable and G is either nontrade or exportable. Labor is quasi-surplus. We show that exogenous or season-induced expansion in F expands G if nontraded (East Asian response) and shrinks Z unambiguously (Hymer-Resnick response). When G is exportable, expansion in F leaves G output unchanged (season neutral), shrinks Z, while the export of G falls (Dutch Disease). Journal: Philippine Review of Economics Pages: 19-35 Volume: 27 Issue: 1 Year: 1990 Month: June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/262/739 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:27:y:1990:i:1:p:19-35 Template-Type: ReDIF-Article 1.0 Author-Name: Josef T. Yap Title: The Effect of an Exchange Rate Devaluation on a Small Open Economy with an External Debt Overhang Abstract: One reason a developing country with a relatively open economy would be hesitant to devalue its currency is the effect of the change in the official exchange rate on the government budget items related to the external debt overhang. It is shown that in an economy characterized by mark-up pricing behavior, currency devaluation would be stagflationary if a particular condition is satisfied. The latter relates the movement of the peso-equivalent interest payments on external debt to the exchange rate response of the trade balance. Assuming devaluation is necessary to correct for distortions in the economy, one can conclude that potential short-term contractionary effects may be avoided of meaningful debt forgiveness will accompany the adjustment in the exchange rate. Journal: Philippine Review of Economics Pages: 36-47 Volume: 27 Issue: 1 Year: 1990 Month: June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/263/740 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:27:y:1990:i:1:p:36-47 Template-Type: ReDIF-Article 1.0 Author-Name: Maria Socorro Gochoco Title: The Relationship Between the Variability of Output and the Variability of Nominal Schocks: Japan 1970-1985 Abstract: This study attempts to relate the level of output to the variability of monomial and real shocks. Expectations are assumed to be formed rationally and Mishkin's (1983) empirical methodology is used. The results obtained using Japanese data for the January 1970 to December 1974 period show that higher and more variable rates of inflation are associated with a rise in unemployment and a reduction in real output. The converse case holds for the April 1981 to June 1985 period in which the tradeoff between output growth and inflation became more favorable. The results indicate that the variability of real or aggregate supply shocks, rather than the variability of monomial shocks, was significant in explaining the response of output. Journal: Philippine Review of Economics Pages: 48-62 Volume: 27 Issue: 1 Year: 1990 Month: June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/264/741 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:27:y:1990:i:1:p:48-62 Template-Type: ReDIF-Article 1.0 Author-Name: Joseph Lim Title: An Application of Bacha s Three-Gap Model: The Case of the Philippines Abstract: This paper uses a three-gap analysis to discuss obstacles to economic growth of a highly country like the Philippines and how these affect inflation. The analysis show the rather evident fact that as the foreign exchange constraint continues unabated, the only hope for the economic growth would be structural improvements that would increase substantially the country's export earnings, reduce the country's dependence on imported inputs and imported capital goods, and reduce the grave fiscal drain on dept service. Overall, this implies that an increase in productivity and competitiveness of the economy should be achieved without the massive foreign inflows that occurred in the last decades. Journal: Philippine Review of Economics Pages: 63-85 Volume: 27 Issue: 1 Year: 1990 Month: June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/265/742 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:27:y:1990:i:1:p:63-85 Template-Type: ReDIF-Article 1.0 Author-Name: P. L. Pingali Author-Name: P. F. Moli Author-Name: L. E. Velasco Title: Prospects for Rice Yield Improvement in the Post-Green Revolution Philippines Abstract: Evidence from farm level and experimental data from the Philippines indicates a trend towards stagnation and/or decline in irrigated rice yield when intensively cultivated, even under scientific management on experiment station. Given current rice technology, there is a minimal yield gap between the experiment station and the "best" irrigated farms in the Philippines. if the current yield frontier does not shift outwards, the long-term prospects are for stagnation and/or decline in the farm yield. The current yield gap is no longer between the farmer and the experimental potential but rather between farmers themselves. This gap between farmer's yield can be explained by the differential farmer ability and differential access to irrigation water. The results of the study suggest that the first priority for the rice research ought to be the breaking of the current irrigated yield ceiling. It is also indicated that the yield gap farmers can be reduced by carefully targeted extension-training program and improvement of the efficiency and reliability of the water delivery to farms in the middle and tail sections of the system. Journal: Philippine Review of Economics Pages: 86-106 Volume: 27 Issue: 1 Year: 1990 Month: June File-URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/266/744 File-Format: Application/pdf Handle: RePEc:phs:prejrn:v:27:y:1990:i:1:p:86-106