Open AccessKETERKAITAN INSTRUMEN KEBIJAKAN MONETER DENGAN NERACA PEMBAYARAN DI INDONESIA
Author(s) -
Indra Maipita
Publication year - 2020
Publication title -
quantitative economics journal
Language(s) - English
Resource type - Journals
eISSN - 2089-7995
pISSN - 2089-7847
DOI - 10.24114/qej.v3i1.17441
Subject(s) - balance of payments , economics , variable (mathematics) , current account , monetary economics , payment , balance (ability) , mathematics , finance , exchange rate , mathematical analysis , medicine , physical medicine and rehabilitation
This study aims to determine the monetary policy variable linkages with Indonesia's balance of payments. Using svar and IRF analysis found that the level of α = 0.05, variable monetary policy instruments such as open market operation (OPT), the minimum reserve requirement (GWM), and the discount rate (rDisk) has a significant relationship with the variable balance of payments (BOP) . In fact, all the macroeconomic variables also significantly affect the balance of payments variables, except the variable domestic interest rates. This means that there is a close link between monetary policy instruments with the balance of payments in Indonesia in the period of the study.