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Meta-Analysis of Money Demand in Indonesia

Author

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  • Galih Riyandi

Abstract

Theory and empirical study about demand for money is the key feature in macroeconomics theory. The study about demand for money in Indonesia has been developing with various techniques. Its result in various analyses can be difficult in understanding behaviour of demand for money in Indonesia. This paper aims to find out the tendency of demand for money in Indonesia by analyzing long run and short run income elasticity and opportunity cost elasticity. We use fixed effects meta-analysis and unweighted average meta-analysis. The result shows that income elasticity and opportunity cost elasticity are consistent with theory of money demand. That result can be used as an empirical foundation to future study about demand for money in Indonesia.

Suggested Citation

  • Galih Riyandi, 2012. "Meta-Analysis of Money Demand in Indonesia," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 15(1), pages 41-62, July.
    • Handle: RePEc:idn:journl:v:15:y:2012:i:1h:p:41-62
    DOI: https://doi.org/10.21098/bemp.v15i1.415
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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