IDEAS home Printed from https://ideas.repec.org/a/idn/journl/v11y2008i1p1-32.html
   My bibliography  Save this article

Mekanisme Suku Bunga Sbi Sebagai Sasaran Operasional Kebijakan Moneter Dan Variabel Makroekonomi Indonesia: 1990.1 - 2007.4

Author

Listed:
  • Nova Riana Banjarnahor

    (Gadjah Mada University)

Abstract

Bank Indonesia has applied the Inflation Targeting Framework (ITF) to reach its single-final objective; stabilizing Rupiah reflected in the inflation and its exchange rate. The central bank of Indonesia uses the interest rate as his operational target to achieve the targeted inflation. Regardless of whether Bank Indonesia uses the Certificate of Bank Indonesia (SBI) or the money market rate (PUAB), on empirical ground the targeted inflation is hard to achieve. This paper analyzes the monetary policy of Bank Indonesia and its impact on macroeconomic variables. The application of Differenced Vector Autoregressive (DVAR) method shows that the monetary policy has a direct impact on the time deposit rate and an indirect impact on the exchange rate, money supply, gross domestic product and on consumer»s price index

Suggested Citation

  • Nova Riana Banjarnahor, 2008. "Mekanisme Suku Bunga Sbi Sebagai Sasaran Operasional Kebijakan Moneter Dan Variabel Makroekonomi Indonesia: 1990.1 - 2007.4," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 11(1), pages 1-32, July.
    • Handle: RePEc:idn:journl:v:11:y:2008:i:1:p:1-32
    DOI: https://doi.org/10.21098/bemp.v11i1.234
    as

    Download full text from publisher

    File URL: https://www.bmeb-bi.org/index.php/BEMP/article/view/234/211
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.21098/bemp.v11i1.234?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    SBI Interest Rate Mechanism; DVAR; IRF; FEVD;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:idn:journl:v:11:y:2008:i:1:p:1-32. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Lutzardo Tobing or Jimmy Kathon (email available below). General contact details of provider: https://edirc.repec.org/data/bigovid.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.