TRANSMISI KEBIJAKAN MONETER DI INDONESIA
<p><em>The use of the BI 7 days repo rate as a new benchmark rate replacing the BI rate, raises hopes that the transmission of monetary policy in Indonesia can run faster and more effectively. This study uses monthly time series data for the period August 2016-December 2018, using the Ve...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Faculty of Economics and Business
2020-04-01
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| Series: | Jurnal Ekonomi-Qu |
| Subjects: | |
| Online Access: | https://jurnal.untirta.ac.id/index.php/Ekonomi-Qu/article/view/8576 |
| _version_ | 1818844603241988096 |
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| author | Rini Dwi Astuti Sri Rahayu Budi Hastuti |
| author_facet | Rini Dwi Astuti Sri Rahayu Budi Hastuti |
| author_sort | Rini Dwi Astuti |
| collection | DOAJ |
| description | <p><em>The use of the BI 7 days repo rate as a new benchmark rate replacing the BI rate, raises hopes that the transmission of monetary policy in Indonesia can run faster and more effectively. This study uses monthly time series data for the period August 2016-December 2018, using the Vector Autoregression (VAR) analysis. The results show that the transmission of monetary policy through the interest rate and asset price channels has been effective, while the transmission of monetary policy through the exchange rate channel has not been effective in driving economic growth in Indonesia. The decline in the benchmark interest rate can be responded quickly by interbank money market interest rates, banking interest rates, stock prices, and output. The exchange rate can also respond quickly to changes in interest rates, but changes in the exchange rate have not been able to influence net exports and increase output.</em></p> |
| first_indexed | 2024-12-19T05:16:23Z |
| format | Article |
| id | doaj.art-ca8588aed8df4958bf5561d67a58dadf |
| institution | Directory Open Access Journal |
| issn | 2089-4473 2541-1314 |
| language | English |
| last_indexed | 2024-12-19T05:16:23Z |
| publishDate | 2020-04-01 |
| publisher | Faculty of Economics and Business |
| record_format | Article |
| series | Jurnal Ekonomi-Qu |
| spelling | doaj.art-ca8588aed8df4958bf5561d67a58dadf2022-12-21T20:34:39ZengFaculty of Economics and BusinessJurnal Ekonomi-Qu2089-44732541-13142020-04-0110112210.35448/jequ.v10i1.85765624TRANSMISI KEBIJAKAN MONETER DI INDONESIARini Dwi Astuti0Sri Rahayu Budi Hastuti1Jurusan Ilmu Ekonomi FEB UPN “Veteran” YogyakartaJurusan Ilmu Ekonomi FEB UPN “Veteran” Yogyakarta<p><em>The use of the BI 7 days repo rate as a new benchmark rate replacing the BI rate, raises hopes that the transmission of monetary policy in Indonesia can run faster and more effectively. This study uses monthly time series data for the period August 2016-December 2018, using the Vector Autoregression (VAR) analysis. The results show that the transmission of monetary policy through the interest rate and asset price channels has been effective, while the transmission of monetary policy through the exchange rate channel has not been effective in driving economic growth in Indonesia. The decline in the benchmark interest rate can be responded quickly by interbank money market interest rates, banking interest rates, stock prices, and output. The exchange rate can also respond quickly to changes in interest rates, but changes in the exchange rate have not been able to influence net exports and increase output.</em></p>https://jurnal.untirta.ac.id/index.php/Ekonomi-Qu/article/view/8576monetary policy, transmission mechanism, interest rate channel, asset price channel, exchange rate channel |
| spellingShingle | Rini Dwi Astuti Sri Rahayu Budi Hastuti TRANSMISI KEBIJAKAN MONETER DI INDONESIA Jurnal Ekonomi-Qu monetary policy, transmission mechanism, interest rate channel, asset price channel, exchange rate channel |
| title | TRANSMISI KEBIJAKAN MONETER DI INDONESIA |
| title_full | TRANSMISI KEBIJAKAN MONETER DI INDONESIA |
| title_fullStr | TRANSMISI KEBIJAKAN MONETER DI INDONESIA |
| title_full_unstemmed | TRANSMISI KEBIJAKAN MONETER DI INDONESIA |
| title_short | TRANSMISI KEBIJAKAN MONETER DI INDONESIA |
| title_sort | transmisi kebijakan moneter di indonesia |
| topic | monetary policy, transmission mechanism, interest rate channel, asset price channel, exchange rate channel |
| url | https://jurnal.untirta.ac.id/index.php/Ekonomi-Qu/article/view/8576 |
| work_keys_str_mv | AT rinidwiastuti transmisikebijakanmoneterdiindonesia AT srirahayubudihastuti transmisikebijakanmoneterdiindonesia |