Measurement of the efficiency of monetary policy
Since 2000, monetary policy in Indonesia started to use Inflation Targeting Framework (ITF). To evaluate the performance of the monetary policy, it requires efficiency indicators. The measurement of the efficiency of monetary policy is based on inflation and output variations. This paper formulates...
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| Format: | Article |
| Language: | English |
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Universitas Islam Indonesia
2017-10-01
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| Series: | Economic Journal of Emerging Markets |
| Subjects: | |
| Online Access: | http://uiistage.openjournaltheme.com/3310/index.php/JEP/article/view/8009 |
| _version_ | 1811211267145203712 |
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| author | Eka Purwanda Siti Herni Rochana |
| author_facet | Eka Purwanda Siti Herni Rochana |
| author_sort | Eka Purwanda |
| collection | DOAJ |
| description |
Since 2000, monetary policy in Indonesia started to use Inflation Targeting Framework (ITF). To evaluate the performance of the monetary policy, it requires efficiency indicators. The measurement of the efficiency of monetary policy is based on inflation and output variations. This paper formulates a method for measuring the efficiency of monetary policy and applies it in Indonesia. It finds that since the implementation of ITF, the efficiency of monetary policy has not changed significantly. However, the efficiency of monetary policy tends to increase after the full implementation of the ITF framework after 2005 than in the transition period of 2000-2005.
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| first_indexed | 2024-04-12T05:10:01Z |
| format | Article |
| id | doaj.art-07c9c80477be49c99d0b1b3fba8e6b5c |
| institution | Directory Open Access Journal |
| issn | 2086-3128 2502-180X |
| language | English |
| last_indexed | 2024-04-12T05:10:01Z |
| publishDate | 2017-10-01 |
| publisher | Universitas Islam Indonesia |
| record_format | Article |
| series | Economic Journal of Emerging Markets |
| spelling | doaj.art-07c9c80477be49c99d0b1b3fba8e6b5c2022-12-22T03:46:46ZengUniversitas Islam IndonesiaEconomic Journal of Emerging Markets2086-31282502-180X2017-10-0192Measurement of the efficiency of monetary policyEka Purwanda0Siti Herni Rochana1STIE STEMBI Bandung Business School, BandungInstitut Teknologi Bandung, Bandung Since 2000, monetary policy in Indonesia started to use Inflation Targeting Framework (ITF). To evaluate the performance of the monetary policy, it requires efficiency indicators. The measurement of the efficiency of monetary policy is based on inflation and output variations. This paper formulates a method for measuring the efficiency of monetary policy and applies it in Indonesia. It finds that since the implementation of ITF, the efficiency of monetary policy has not changed significantly. However, the efficiency of monetary policy tends to increase after the full implementation of the ITF framework after 2005 than in the transition period of 2000-2005. http://uiistage.openjournaltheme.com/3310/index.php/JEP/article/view/8009monetary policyinflation target-ing frameworkloss functionefficiency |
| spellingShingle | Eka Purwanda Siti Herni Rochana Measurement of the efficiency of monetary policy Economic Journal of Emerging Markets monetary policy inflation target-ing framework loss function efficiency |
| title | Measurement of the efficiency of monetary policy |
| title_full | Measurement of the efficiency of monetary policy |
| title_fullStr | Measurement of the efficiency of monetary policy |
| title_full_unstemmed | Measurement of the efficiency of monetary policy |
| title_short | Measurement of the efficiency of monetary policy |
| title_sort | measurement of the efficiency of monetary policy |
| topic | monetary policy inflation target-ing framework loss function efficiency |
| url | http://uiistage.openjournaltheme.com/3310/index.php/JEP/article/view/8009 |
| work_keys_str_mv | AT ekapurwanda measurementoftheefficiencyofmonetarypolicy AT sitihernirochana measurementoftheefficiencyofmonetarypolicy |