Open AccessKEBIJAKAN MONETER DALAM MENGATASI INFLASI DI INDONESIA
Author(s) -
Farah Fauziyah
Publication year - 2015
Publication title -
signifikan
Language(s) - English
Resource type - Journals
eISSN - 2476-9223
pISSN - 2087-2046
DOI - 10.15408/sjie.v4i1.2295
Subject(s) - economics , variance decomposition of forecast errors , monetary transmission mechanism , monetary policy , inflation (cosmology) , vector autoregression , monetary economics , econometrics , impulse response , inflation targeting , credit channel , mathematics , mathematical analysis , physics , theoretical physics
This study aimed to analyze the transmission mechanism of monetary policy in control the inflation in Indonesia, both in terms of sharia and conventional. The analytical tools that used in this research is the Autoregessive Vector (VAR). This VAR research results conducted by Test Impulse Response Function (IRF) and the Test of Forecast Error Variance Decomposition (FEVD). IRF showed that the yield on the conventional side (Model I) is variable SBI had a negative impact and bonds provide a positive impact on inflation, while on the sharia (Model II) have a positive impact in terms of reducing inflation. Fluctuation on Islamic monetary transmission mechanism more stable than the conventional monetary policy transmission mechanism. FEVD the model I give a negative contribution in raising inflation about 43.86%, while the second model of a positive contribution in the sense of lowering inflation about to 25.77%. Therefore we can conclude sharia monetary policy transmission mechanism is better than conventional transmission mechanism of monetary policyDOI: 10.15408/sjie.v4i1.2295