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The Dynamic Of Indonesi Amic Of Indonesia’S Sectoral Economic Cy Oral Economic Cycles

Author

Listed:
  • Monica Karina Anastasia

    (Bank Indonesia)

  • Pahmi Utamaraja Ginting

    (Bank Indonesia)

  • Risqia Fadhilah Syahrir

    (Bank Indonesia)

  • Oki Hermansyah

    (Bank Indonesia)

  • Muhamad Shiroth

    (Bank Indonesia)

Abstract

The purpose of this study is to observe the dynamics of Indonesia’s economic cycles for six main sectors. In constructing the cycles, we use quarterly Gross Domestic Product (GDP) for six Indonesian sectors over the period 2000-2021. We obtain the economic cycles for each of the six sectors using the Hodrick-Prescott filter and the ChristianoFitzgerald filter techniques. We find evidence that five of six sectors have relatively strong correlation with the aggregate GDP growth cycle. Additionally, by using the concordance index, we further conclude that three sectors are pro-cyclical with the aggregate GDP growth cycle.

Suggested Citation

  • Monica Karina Anastasia & Pahmi Utamaraja Ginting & Risqia Fadhilah Syahrir & Oki Hermansyah & Muhamad Shiroth, 2023. "The Dynamic Of Indonesi Amic Of Indonesia’S Sectoral Economic Cy Oral Economic Cycles," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 26(2), pages 361-394, May.
    • Handle: RePEc:idn:journl:v:26:y:2023:i:2g:p:361-394
    DOI: https://doi.org/10.59091/1410-8046.2068
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    More about this item

    Keywords

    Sectoral cycles; Cross-correlation; Policy response; Event-analysis; Cycleidentification filter;
    All these keywords.

    JEL classification:

    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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