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Journal : Jurnal Paradigma Ekonomika

Determinan permintaan deposito berjangka di Indonesia Putra Artama, Dandi; Nurjanah, Rahma; Vyn Amzar, Yohanes
Jurnal Paradigma Ekonomika Vol. 19 No. 1 (2024): Jurnal Paradigma Ekonomika
Publisher : Program Studi Ekonomi Pembangunan Fakultas Ekonomi dan Bisnis Universitas Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22437/jpe.v19i1.26805

Abstract

This study aims to determine the proportion of time deposits to third party funds and what are the factors that influence the demand for time deposits in Indonesia in 1995-2021. The data used in this study is secondary data sourced from Bank Indonesia and the Indonesian Central Bureau of Statistics (BPS). The variables used in this research are time deposits, deposit rates, and inflation in Indonesia. To answer these objectives, this study uses a quantitative descriptive research type with the Vector Error Correction Model (VECM). The research results show that (1) the proportion of time deposits to third party funds in Indonesia in 1995-2021 was 24.33 percent; and (2) Granger causality test results, there is a causal relationship per capita income to 1-month time deposits in Indonesia. The per capita income instrument based on long-term VECM estimation analysis has a significant negative effect with a high coefficient on 1-month time deposits in Indonesia. Meanwhile, short-term research shows that the 1-month time deposit variable has a significant negative effect on the 1-month time deposit variable itself. Based on the results of the Forecast Error Decomposition (FEVD) regression analysis, time deposits have the most significant contribution to time deposits themselves, followed by per capita income, 1-month time deposit interest rates, and inflation.
Hubungan dinamis jumlah uang beredar (M2), suku bunga kebijakan BI Rate, pengeluaran pemerintah dan inflasi di Indonesia Nur Aisyah, Indah; Hodijah , Siti; Vyn Amzar, Yohanes
Jurnal Paradigma Ekonomika Vol. 20 No. 1 (2025): Jurnal Paradigma Ekonomika
Publisher : Program Studi Ekonomi Pembangunan Fakultas Ekonomi dan Bisnis Universitas Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to determine and analyze the long-term and short-term dynamic relationship of the money supply (M2), the BI-Rate policy interest rate (BI-Rate), government spending, and inflation in Indonesia. For 25 years or from the period 1998 to 2023. In addition, it is also to determine the changes in each period in the variables of the money supply (M2), the BI-Rate policy interest rate (BI-Rate), government spending, and inflation in Indonesia. The data selected in this study are annual data from 1998-2023, obtained through Bank Indonesia and SEKI (Indonesian Economic and Financial Statistics). The method used in this study is the Vector Error Correction Model (VECM). The results of this study show changes in the variables of the money supply (M2), the BI-Rate policy interest rate, government spending and interest rates fluctuate throughout the study period. Based on the results of the Vector Error Correction Model (VECM) test with the granger causality test, it shows a one-way dynamic relationship between variables. The results of the IRF and FEVD tests prove that in the long term each variable significantly influences each other.