Broadly speaking, the BSP’s suptech initiatives are classified into three categories: first – data acquisition, where BSP receives data and information from the BSP-supervised financial institutions (BSFIs). Second – data analytics wherein the acquired information gets analyzed and third – data dissemination wherein processed and analyzed information are sent out to other government agencies, internal users, and the public.
The existence or nonexistence of an empirically identifiable NAIRU has no bearing on the existence of the venerable law of supply and demand. To be sure, increases in wages in excess of productivity growth may not be inflationary, and destructive of economic growth, if offset by decreases in other costs or declining profit margins.