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The Bangko Sentral’s Business Expectations Survey


  • Antonio B. Cintura
  • Ludivinia D. Gador

    (Department of Economic Research, Bangko Sentral ng Pilipinas)


The BSP’s Business Expectations Survey (BES) was launched in 1986 but it was only in 2001 that it was harmonized with international business tendency survey practices. Based on survey results for the first six quarters, the harmonized BES appears to be a promising source of coincident and leading indicators of short-term business and economic performance in the Philippines.

Suggested Citation

  • Antonio B. Cintura & Ludivinia D. Gador, 2003. "The Bangko Sentral’s Business Expectations Survey," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 40(1), pages 95-108, June.
  • Handle: RePEc:phs:prejrn:v:40:y:2003:i:1:p:95-108

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    References listed on IDEAS

    1. Svensson, Lars E. O., 1999. "Inflation targeting as a monetary policy rule," Journal of Monetary Economics, Elsevier, vol. 43(3), pages 607-654, June.
    2. Sargent, Thomas J & Wallace, Neil, 1973. "The Stability of Models of Money and Growth with Perfect Foresight," Econometrica, Econometric Society, vol. 41(6), pages 1043-1048, November.
    3. Jeffrey A. Frankel, 1995. "Financial Markets and Monetary Policy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061740, January.
    4. George A. Kahn & Klara Parrish, 1998. "Conducting monetary policy with inflation targets," Economic Review, Federal Reserve Bank of Kansas City, issue Q III, pages 5-32.
    5. Barro, Robert J, 1978. "Unanticipated Money, Output, and the Price Level in the United States," Journal of Political Economy, University of Chicago Press, vol. 86(4), pages 549-580, August.
    6. Michael J. Dueker & Andreas M. Fischer, 1998. "A guide to nominal feedback rules and their use for monetary policy," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 55-63.
    7. Mervyn Allister King, 1998. "The Inflation Target Five Years On," FMG Special Papers sp99, Financial Markets Group.
    8. Fair, Ray C, 1978. "A Criticism of One Class of Macroeconomic Models with Rational Expectations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 10(4), pages 411-417, November.
    9. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
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    More about this item


    Business outlook; leading economic indicators;

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General


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