Instead, a more federated system was created, establishing the Federal Reserve Board in Washington and the 12 Reserve Banks located around the country. 9  See Nathan S. Balke and Robert J. Gordon (1989), “Appendix B: Historical Data,” in Robert J. Gordon, ed., The American Business Cycle: Continuity and Change (Chicago: University of Chicago Press), pp. 781-850.
The Bangko Sentral ng Pilipinas (BSP) offers this book as our contribution to the fulfillment of our duty to improve the understanding of the economy and also improve the quality of policies. Much remains to be learned about the economic implications of the COVID-19 pandemic not just in the labor market, but as I already said, [also in] the development of human capital.