Analisis Efektivitas Kebijakan Moneter Dalam Perspektif Konvensional dan Syariah Terhadap Inflasi di Indonesia Tahun 2013-2020

Dwihapsari, Rindani; Kurniaputri, Mega Rachma; Huda, Nurul

doi:10.29040/jiei.v7i2.2368

Cited by 4 publications

(4 citation statements)

References 7 publications

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“…Dengan asumsi bahwa suku bunga pinjaman dan simpanan menurun, maka menyebabkan peningkatan permintaan kredit dan meningkatkan pula investasi dan output yang dihasilkan pelaku usaha sehingga terjadi pertumbuhan produktivitas. Lalu pada sisi konsumen, terjadi peningkatan daya beli yang selanjutnya akan menyebabkan output aktual lebih besar dibandingkan output potensialnya sehingga mendorong tekanan inflasi (Dwihapsari et al, 2021;Iddrisu & Alagidede, 2020;Ningsih & Kristiyanti, 2018;Osok et al, 2019;Sari & Yeniwati, 2019).…”

Section: Uji Kointegrasiunclassified

Pengaruh Jalur Transmisi Kebijakan Moneter terhadap Inflasi di Indonesia

Fitriyani

Iranto²,

Dianta³

2023

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Historically, actual inflation could not reach the inflation target, resulting in a deviation between the actual inflation and the inflation target. To overcome this problem, Bank Indonesia implemented a monetary policy transmission channel for inflation in Indonesia through the loan interest rate channel, the exchange rate channel, and the consumption credit channel. This article aims to determine the effect of the monetary policy transmission channel on inflation in Indonesia, as seen from the interest rate, exchange rate, and consumption credit channels. The research method of this article is quantitative with VAR/VECM analysis techniques. The results of the study state that (1) in the short term, interest rates on loans and consumption credit have a significant effect on the inflation rate; (2) in the long run, loan interest rates and the rupiah exchange rate have a significant effect on the inflation rate; (3) when shocks occur in loan interest rates, the rupiah exchange rate, and consumer credit, the inflation rate will respond differently; and (4) changes in interest rates on loans and consumption credit are effective in explaining variations in changes in the inflation rate. The results of this study imply that the determination of lending rates by each bank must still refer to the reference interest rate (BI7DRR), public sentiment and the volatility of the rupiah exchange rate in the short term must be the focus of consideration in the exchange rate channel, and consumption must consider the feasibility of the 5C aspect. Keywords: Inflation, Loan Interest Rates, Rupiah Exchange Rates, Consumption Credit

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Section: Uji Kointegrasiunclassified

Pengaruh Jalur Transmisi Kebijakan Moneter terhadap Inflasi di Indonesia

Fitriyani

Iranto²,

Dianta³

2023

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“…The first requirement is a price increase, even though it has decreased and increased in the past. Second, a general or natural price increase has occurred, and not only for a single commodity (Dwihapsari et al, 2021) In contrast to the work by (Ismanto and Pebruary, 2021), the authors employed a moderation regression model (moderated regression analysis) in Eviews, version 9.…”

Section: Stock Returnmentioning

confidence: 99%

Opportunity Set, Liquidity, Stock Return, Inflation As A Moderator Investment Risk, Investment

Marjohan

Anggraini

Dewi

et al. 2023

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This study aims to analyze the influence of liquidity of investment risks, opportunities on stock return with inflation as a moderator. These study was a quantitative study which invloving panel data method. In thid study, data processing and population studies using Eviews software which consist of companies in the banking sector listed on the Indonesia Stock Exchange. This study found that investment risk has no impact on equity returns, the level of investment opportunity is locked into equity returns, liquidity has a significant negative impact on equity returns, and inflation affects the ratio of investment risk to equity returns was found to have the potential to increase Inflation weakens the relationship between investment opportunities and equity returns, while inflation can strengthen the relationship between liquidity and equity returns. It is hoped that further researchers will be able to include these variables as consideration in doing such investigation.

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“…Likewise, Sangidi (2014) the results of his research on the effectiveness of Islamic monetary transmission through the financing channel stated that Islamic bank financing can have a positive effect on output growth, while SBIS has a negative effect on output. Dwihapsari, et al, (2021) conducted a study on the analysis of the effectiveness of monetary policy in conventional and Sharia perspectives on inflation in Indonesia from 2013-2020. The variables used are credit, and SUN for conventional monetary policy, while for Islamic monetary policy the variables used are SBIS, FIN, and SBSN using the VECM methodology.…”

Section: Previous Studymentioning

confidence: 99%

Analysis of Islamic Monetary Instruments and Islamic Bank Financing on Monetary Stability in Indonesia

Esya¹,

Muayyad²

2023

4th International Conference on Islamic Economics, Business, Philanthropy, and PhD Colloquium (ICIEBP) 2022

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This study aims to analyze the effect of Islamic monetary instruments and financing on monetary stability in Indonesia. This study uses the Vector Error Correction Model (VECM), Granger Causality Test, Impulse Response Function (IRF), and Forecast Error Variance Decomposition (FEVD) by first conducting a stationarity test, cointegration test, optimum lag test. The data used in this study is monthly secondary data from the variable amount of money in circulation (M2), Bank Indonesia Sharia Certificates (SBIS), Sharia Interbank Money Market (PUAS), State Sharia Securities (SBSN), and Islamic Banking Financing for the period January 2011.1 to December 2021.12. The results of the VECM Model research show that in the long term the instrument variables of SBIS, PUAS, and SBSN have a significant and positive effect on the Money Supply (M2). Meanwhile, Financing (FIN) has no significant effect on Money Supply. In the short term, only PUAS instruments are significant. The implication is that the monetary authority in setting policies must pay attention to its impact on yields of sharia monetary instruments because if the yield is increased it will certainly increase the amount circulating in the community, which in turn will affect monetary stability.

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Analisis Efektivitas Kebijakan Moneter Dalam Perspektif Konvensional dan Syariah Terhadap Inflasi di Indonesia Tahun 2013-2020

Cited by 4 publications

References 7 publications

Pengaruh Jalur Transmisi Kebijakan Moneter terhadap Inflasi di Indonesia

Pengaruh Jalur Transmisi Kebijakan Moneter terhadap Inflasi di Indonesia

Opportunity Set, Liquidity, Stock Return, Inflation As A Moderator Investment Risk, Investment

Analysis of Islamic Monetary Instruments and Islamic Bank Financing on Monetary Stability in Indonesia

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