With the take-up of life insurance at less than 15 percent of our population, BSP Life has taken a lead role in creating awareness of the critical need for us to have insurance and protect our loved ones.
Alongside standard micro founded DSGE models, central bankers also utilize reduced-form versions of DSGE models, including Forecasting and Policy Analysis System (FPAS) and Quarterly Projection Models (QPM), for policy advice and forecasting. Like DSGE, these models also serve as useful tools for shock decomposition and scenario analysis.