If you’re a business owner in the Philippines, it’s important to know how to compute your taxable income. Whether you’re a VAT-registered or non-VAT registered business, you’ll need to follow specific steps to ensure compliance with the country’s tax laws. The steps below is as of...
We compute an approximate model solution by linearising the model around its deterministic steady state. Given the structural parameters collected in θ, the linear rational expectation solution takes the following form:yt=Φ1θ+Φεθεt,where Φ1 and Φε govern the decision rules of the ...