Ihsan, Ro'is (2022) Konsistensi Waktu Optimal Mekanisme Transmisi Kebijakan Moneter Pada Sistem Moneter Ganda di Indonesia. Konsistensi Waktu Optimal Mekanisme Transmisi Kebijakan Moneter Pada Sistem Moneter Ganda di Indonesia, 4 (1). pp. 59-76. ISSN ISSN : 2655-6944
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Elastisitas Vol 4 No 1 Maret 2022.pdf Download (856kB) | Preview |
Abstract
This study aims to prove the most optimal time mechanism in the monetary policy transmission mechanism in both the conventional monetary system and the Islamic monetary system in response to the final target of inflation, as well as to prove a more effective monetary policy between the conventional monetary system through the direct channel (JUB), the interest rate channel (rSBI) and the exchange rate channel, with the Islamic monetary system through the direct channel (JUB), profit-sharing channel (rSBIS) and exchange rate channel, in response to the final target of inflation. The type of research in this study is explanatory, a data collection method in this study using case studies. This study all used secondary data in Indonesia in 2008.1-2020.12. To answer the research hypothesis, the Vector Auto Regression (VAR) analysis method was used, and the Vector Error Correction Model (VECM). The results of the study prove that the optimal lag lag required by the transmission of monetary policy through instruments in conventional and sharia systems to achieve the ultimate goal of inflation is within three months. The results of the impulse response function (IRF) that shocks from the RSBI, RPUAB, GWMK, SBIS, PUAS, and GWMS were responded negatively by inflation even though in the early periods there was a tendency to unstable, but in the sixth period (six months) to the tenth period (ten months) it has reached equilibrium.
| Item Type: | Article |
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| Keywords (Kata Kunci): | monetary policy transmission mechanism, double monetary system, optimal lag, conventional monetary system, Islamic monetary system |
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Fakultas Ekonomi |
| Depositing User: | Dr. Ihsan Ro'is, M.Si. |
| Date Deposited: | 18 Aug 2022 07:01 |
| Last Modified: | 18 Aug 2022 07:01 |
| URI: | http://eprints.unram.ac.id/id/eprint/29487 |
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