Monday, November 20

05:30 PM – 07:00 PM

Welcome Cocktails
for PES Board and Guests, Presentors, Discussants, Moderators, and Organizers
BSP Executive Hall

Tuesday, November 21

08:00 AM – 08:30 AM

Registration

08:30 AM – 08:35 AM

Pambansang Awit ng Pilipinas
(National Anthem of the Philippines)

08:35 AM – 08:45 AM

Welcome and Opening Remarks
*Arsenio M. Balisacan, President, PES
Amando M. Tetangco, Governor, BSP

08:45 AM – 09:30 AM

Keynote Address
*Jaime Augusto Zobel de Ayala II, President and Chief Executive Officer, Ayala Corporation

9:30 AM - 9:45 AM

Coffee Break

09:45 AM – 11:30 AM

Panel Discussion: Growth, Development, and Institutions
Panelists
Collective Action Failures
*Raul V. Fabella, Dean, School of Economics, University of the Philippines

How the Philippines Can Join the East Asian Renaissance Policies for Equality and Credible Institutions
*Joachim von Amsberg, Country Director, World Bank Resident Mission in the Philippines

The Indonesian Economy a Decade after the Crisis (and some Philippine Parallels
Presentation | Document
*Hal Hill, Convenor, Division of Economics, and H.W. Arndt Professor of Southeast Asian Economies, Research School of Pacific & Asian Studies, Australian National University

Moderator
*Dante B. Canlas, Professor, School of Economics, University of the Philippines

11:30 AM – 12:00 PM

Open Forum

12:00 PM – 01:30 PM

Lunch (sponsored by BSP}

Report to the Society
*Arsenio M. Balisacan, President, PES
Start of Elections for the PES Board

01:30 PM – 03:00 PM

Parallel Sessions

Session 1

Monetary Policy 1
Organizers
Epictetus E. Patalinghug, College of Business Administration, University of the Philippines, Diliman
Francisco G. Dakila, Econonic and Financial Forecasting Group, Department of Economic Research, Bangko Sentral ng Pilipinas

Chair
Epictetus E. Patalinghug, College of Business Administration, University of the Philippines, Diliman

Bangko Sentral ng Pilipinas Modernization: A Policy Perspective
Cristeta B. Bagsik, Center for Monetary & Financial Policy, Bangko Sentral ng Pilipinas
Eloisa T. Glindro, Center for Monetary & Financial Policy, Bangko Sentral ng Pilipinas

The Impact of BSP Policy Interest Rates on Market Interest Rates
Francisco G. Dakila Jr., Department of Economic Research, Bangko Sentral ng Pilipinas
Raquel A. Claveria, Department of Economic Research, Bangko Sentral ng Pilipinas

Session 2

Power Sector Reforms: Where We are, Where We are Going, and How to Get There
The Philippine power sector has been an Achilles' heel of the country's competitiveness for some time now. Expectations for improvement had been high following the passing of EPIRA. Implementation has been slow but another milestone was reached recently with the launching of the Wholesale Electricity Spot Market. This session gathers several key agencies to update us on the state of reforms and directions we are taking in the continuing restructuring of the sector.

Organizer
Peter Lee U, School of Economics, University of Asia and the Pacific

Chair
Peter Lee U, School of Economics, University of Asia and the Pacific

The National Power Corporation Sustaining Profitability in a Period of Transition
Cyril del Callar, National Power Corporation
Bringing Power into your Hands
Rauf Tan, Energy Regulatory Commission
Wholesale Electricity Spot Market First Trimester of Commercial Operations
Lassi Holopainen, Wholesale Electricity Spot Market

Session 3

Investment
Organizer
Fernando T. Aldaba, School of Social Sciences, Ateneo de Manila University

Chair
Filomeno Sta. Ana III, Action for Economic Reforms

Fiscal Incentives Revisited
Erlinda M. Medalla, Philippine Institute for Development Studies


Fiscal Incentives Rationalization in the Philippines
Presentation | Document
Renato E. Reside, Jr., School of Economics, Universidty of the Philippines

Capital Flight and the Hollowing Out of the Philippine Economy in the Neo-Liberal Regime
Presentation | Document
Edsel L. Beja Jr., School of Social Sciences, Ateneo de Manila University

Investment Incentive System and FDI Inflows: The Philippine Experience
Presentation | Document
Rafaelita M. Aldaba, Philippine Institute for Development Studies

Session 4

Mechanisms and Pricing for Sustainable Environmental Resources
Organizer
Rodelio F. Subade, Division of Social Sciences, University of the Philippines in the Visayas

Chair
Maria Nimfa F. Mendoza, School of Economics, University of the Philippines, Diliman

Inspections, Enforcement, and Water Pollution Discharges in Laguna de Bay Philippines
Presentation |Document
Lourdes O. Montenegro, Department of Economics, University of San Carlos, Cebu City

Are People Willing to Pay for Improved Water Supply? Evidence from Metro Manila and Camarines Sur
Presentation | Document
Margaret Calderon, Institute of Renewable Resources, College of Forestry & Natural Resources, University of the Philippines - Los Baños
Josefina T. Dizon, Institute of Community Education, College of Public Affairs, University of the Philippines - Los Baños

Environmental Conservation for the Present and the Future Generations: Non-Use Values in Environmental Valuation
Presentation |Document
Rodelio E. Subade, Division of Social Sciences, University of the Philippines in the Visayas

Session 5

Food Poverty Estimation and Poverty Monitoring Surveys
Organizer
Isidoro P. David, Philippine Statistical Association

Chair
Romeo Recide, Bureau of Agricultural Statistics

Estimating Food Poverty Directly from Food Consumption Data, Comparison with Official Methodology, and Suggestions for Improving Poverty Monitoring Surveys
Isidro David, Philippine Statistical Association
Wilma Molano, Food & Nutrition Research Institute
Emma Fabian, National Statistics Office
Rechel Arcilla, De La Salle University
Zita Albacea, University of the Philippines - Los Baños

Session 6

Making Decentralization Work: Experiences and Lessons in the Last Ten Years 1
Organizer
Mercedita A. Sombilla, Philippine Agricultural Economics and Development Association

Chair
Roland Bello, College of Public Affairs, University of the Philippines, Los Baños

03:00 PM – 03:15 PM

Coffee Break

03:15 PM – 04:45 PM

Parallel Sessions

Session 7

Monetary Policy 2
Organizers
Epictetus E. Patalinghug, College of Business Administration, University of the Philippines, Diliman
Francisco G. Dakila, Econonic and Financial Forecasting Group, Department of Economic Research, Bangko Sentral ng Pilipinas

Chair
Epictetus E. Patalinghug, College of Business Administration, University of the Philippines, Diliman

The Philips Curve and Inflation Forecasting: The case of the Philippines
Cristeta B. Bagsik, Center for Monetary & Financial Policy, Bangko Sentral ng Pilipinas

Modeling the Impact of Overseas Filipino Workers Remittances in the Philippine Economy: An Inter-Regional and Economy-Wide Approach
Cristela Goce-Dakila, College of Business & Economics, De La Salle University
Francisco G. Dakila Jr., Department of Economic Research, Bangko Sentral ng Pilipinas

Forensic Economics: The Hidden Balance of Payments of the Philippines
Presentation | Document
Edsel L. Beja Jr., School of Social Sciences, Ateneo de Manila University

Session 8

Familiar Themes, Fresh Perspectives
Organizer
Gwendolyn R. Tecson, School of Economics, University of the Philippines, Diliman

Chair
Gwendolyn R. Tecson, School of Economics, University of the Philippines, Diliman

Strict Rationality, Fear-of-Rejection, and Altruism: Behavior of Proposers among Students in Decision Experiments
Presentation | Document
Ruth H. Francisco, School of Economics, University of the Philippines
Raul V. Fabella, School of Economics, University of the Philippines

An Analysis of Remittance Recipient Behavior
Presentation | Document
Emmanuel San Andres, School of Economics, University of the Philippines

Introducing the National Transfer Accounts (NTA): Estimating the Life-Cycle Deficit and Measuring Economic Flows Across Age Groups
Presentation | Document
JM Ian Salas, School of Economics, University of the Philippines
Rachel Racelis

Session 9

Economics of Human Resources
Organizer
Emmanuel F. Esguerra, School of Economics, University of the Philippines, Diliman

Chair
Emmanuel F. Esguerra, School of Economics, University of the Philippines, Diliman

Intrahousehold Resource Allocation, Child Labor, and School Enrollment: Evidence from Rural India
Presentation | Document
Nobuhiko Fuwa, Graduate School of Science & Technology, Chiba University
Siero Ito, Institute of Developing Economics
Kensuke Kubo, Development Studies Center, Institute of Developing Economics
Takashi Kurosaki, Institute of Economic Research, Hitotsubashi University
Yasuyaki Sawada, Faculty of Economics, University of Tokyo

Testing for the Existence of Bargaining in Rural Households: A Study of Decisions on Labor Management Participation in the Cordillera Region of the Philippines
Presentation | Document
Lorelei Mendoza, College of Social Sciences, University of the Philippines - Los Baños
Lodewijk Berlage, Center for Economic Studies, Catholic University of Leuven, Belgium

Stereotypic Wage and Accentuation Effect
Presentation | Document
Assad L. A. Baunto, School of Economics, University of the Philippines

Session 10

Economics Education

The Philippine Economic Society has recently made it part of its mission to be a strong advocate for the improvement of economics education in the country. Accordingly, the Board of Directors has committed to organizing sessions on this topic at the annual meetings of the Society. These sessions will be devoted to discussions on the state of economics education in the country and what can be done to advance it.

For its 44th Annual Meeting the Society has organized a panel discussion on how we can improve economics education at all levels: secondary, college and graduate, with a focus on the issue of textbook quality.

Organizer
Winfred M. Villamil, College of Business and Economics, De La Salle University

Chair
Tereso S. Tullao Jr., Professor, Economics Department, De La Salle University

Panelists
Ma. Socorro G. Bautista, School of Economics, University of the Philippines, Diliman

Concerns in University Economics Education
Emmanuel S. de Dios, School of Economics, University of the Philippines, Diliman

Soccoro A. Pilor, Institutional Materials Council
Gerardo P. Sicat, School of Economics, University of the Philippines, Diliman

Procedures in the Pre-evaluation of a Proposed Textbook
Rosalina G. Young, Textbook Evaluation and Publishing Office, University of the East

Session 11

Poverty and Development
Organizer
Celia M. Reyes, Philippine Institute for Development Studies

Chair
Monina Collado, National Statistics Office

Small Area Estimates of Poverty Incidence
Romulo A. Virola, National Statistical Coordination Board

SWS Survey
Mahar K. Mangahas, Social Weather Stations

Community-Based Monitoring System: A Tool to Fight Poverty
Celia M. Reyes, Philippine Institute for Development Studies

Session 12

Making Decentralization Work: Experiences and Lessons in the Last Ten Years 2
Organizer
Mercedita A. Sombilla, Philippine Agricultural Economics and Development Association

Chair
Albert Aquino, Phippine Council for Agriculture, Forestry, and Resources Research and Development

Governance Challenges in Community-Driven Natural Resources Management
Presentation | Document
Linda Peñalba, Insitute of Agrarian and Urban Development Studies, College of Public Affairs, University of the Philippines - Los Baños

Decentralization and Sustainability: A Case Study of an Upland Community
Presentation | Document
Agnes C. Rola, Institute of Strategic Planning and Policy Studies, College of Public Affairs, University of the Philippines - Los Baños

04:45 PM – 05:00 PM

Adjournment

Wednesday, November 22

08:00 AM – 08:30 AM

Registration

08:30 AM – 09:30 AM

Panel Discussion: Regulation, Institutions, and Governance (sponsored by the Philippine Institute for Development Studies)
Panelists
*Philippa Dee, Visiting Fellow, Crawford School of Economics and Government, Australian National University

Policy Reforms and Institutional Weaknesses: Closing the Gap
*Gilbert M. Llanto, Senior Research Fellow,PIDS
*Eduardo T. Gonzalez, Visiting Research Fellow, PIDS

Bernard Wonder: Regulation, Institutions and Governance Some Recent Australian Experience
*Bernard Wonder, Head of Office, Australia Productivity Commission

Moderator
*Josef T. Yap, President, PIDS

09:30 AM – 10:30 AM

Open Forum

10:30 AM – 10:45 AM

Coffee Break

10:45 AM – 12:15 PM

Panel Discussion: Fearless Forecasts for 2007
Panelists
Philippine Economic Performance and Outlook 2006-2007
An Economy of Contradictions
*Cielito F. Habito, Ateneo Center for Research and Development

The Philppine Economy: Recent and Future Trends
*Felipe M. Medalla, Foundation for Economic Freedom

Economists were put in this planet to make astrologists look good
*Romeo L. Bernardo, Lazaro, Bernardo, Tiu, and Associates

The Philippine Outlook from a Rating Perspective
*James McCormack, Fitch Ratings Asia Sovereigns Group

Moderator
*Alexander C. Escucha, Immediate Past President, PES

12:15 PM – 01:45 PM

Lunch (sponsored by Friedrich Naumann Stiftung)
Words of Greeting: *Siegfried Herzog, Resident Representative, FNS

01:45 PM – 03:00 PM

Lifetime Achievement Award

03:00 PM – 03:15 PM

Announcement of Election Results and Adjournment

*Confirmed

Master of Ceremonies
Michael M. Alba
Vice-President, PES
Chair, PES Annual Meeting Committee