Open AccessAnalisis Dampak Kebijakan Fiskal terhadap Pertumbuhan Ekonomi di Indonesia
Author(s) -
Ahmad Nawawi,
Ferry Irawan
Publication year - 2010
Publication title -
jurnal ekonomi dan pembangunan indonesia
Language(s) - English
Resource type - Journals
eISSN - 2406-9280
pISSN - 1411-5212
DOI - 10.21002/jepi.v10i2.119
Subject(s) - economics , shock (circulatory) , government expenditure , fiscal policy , tax revenue , macroeconomics , new keynesian economics , monetary economics , revenue , government revenue , monetary policy , public finance , finance , medicine
This paper presents an analysis of the effect of fiscal policy in Indonesia based on a VAR approach. Fiscal policy shocks are identified as a structural residuals related to unexpected government expenditures and tax revenues. Impulse responses are then used to simulate the dynamic response of key macroeconomics variables of shocks. The analysis shows that GDP responses negatively to tax shocks, and positively to expenditure shock. Moreover, disposable income and private consumptionreact negatively to taxation and positively to government expenditures. Altogether the results are consistent with that of Keynesian models.