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All Journal Jurnal Ekonomi Pembangunan Optimum : Jurnal Ekonomi dan Pembangunan JEJAK Journal of Economics, Business, & Accountancy Ventura Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan MODUS-Jurnal Ekonomi dan Bisnis Jurnal Ekonomi & Keuangan Islam Journal of Socioeconomics and Development EKO-REGIONAL JURNAL PENGEMBANGAN EKONOMI WILAYAH Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi Jurnal REP (Riset Ekonomi Pembangunan) JURNAL ILMIAH MAKSITEK Journal of Economics Research and Social Sciences Income: Innovation Of Economics And Management Journal of Asset Management and Public Economy Asian Journal of Community Services (AJCS) Asian Journal of Healthcare Analytics Prosiding Seminar Nasional Pengabdian Masyarakat Jurnal Ekonomi dan Studi Pembangunan (JESP)
Mahrus Lutfi Adi Kurniawan
Ahmad Dahlan University
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Journal : Income: Innovation Of Economics And Management

 1 
Analysis of Macroeconomic Variables on Demand for Money in Indonesia Veisa Arthamevia Alif; Mahrus Lutfi Adi Kurniawan
INCOME: Innovation of Economics and Management Vol. 4 No. 1 (2024): June
Publisher : LPPM Universitas KH. A. Wahab Hasbullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32764/income.v4i1.4983

Abstract

This research aims to determine the influence of macroeconomic variables on the demand for money in Indonesia. The research applies the broad money variable (M2) as the dependent variable, this includes M1, quasi money (including savings, time deposits in rupiah and foreign currency, as well as current accounts in foreign currency), and securities issued by the monetary system owned by the domestic private sector with a remaining term of up to one year. The research uses time-series data from 1993-2023 and the OLS method. The research results show that exports influence the demand for money, a positive coefficient value indicates that increasing exports will increase the money supply. The GDP variable has a negative effect on the money supply in Indonesia, the higher the GDP, the money supply will decrease which can be caused by a decrease in people's purchasing power, the transfer of "wealth" to other instruments and the role of money which is used more as savings by the public. Depreciation of the exchange rate causes the prices of imported goods to become more expensive. Apart from that, it can affect the condition of the domestic economy which causes a decrease in people's purchasing power so that it can reduce the money supply and inflation has no effect on the money supply in Indonesia. The implication of the research is that government policies are needed that encourage people's purchasing power and exchange rate stability to improve the domestic economy
Determinant of Macroeconomic Variables on Foreign Exchange Reserves in Indonesia Rifda Syahda Nabilah; Mahrus Lutfi Adi Kurniawan; Fitra Pasapawidya Purna
INCOME: Innovation of Economics and Management Vol. 4 No. 3 (2025): February
Publisher : LPPM Universitas KH. A. Wahab Hasbullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32764/income.v4i3.5636

Abstract

The research aims to analyze the influence of macroeconomic variables on foreign exchange reserves in Indonesia. This cannot be separated from the fact that the accumulation of foreign exchange reserves is very closely related to the condition of macroeconomic variables. The research uses time-series data from 2019:M01-2023:M12. The multiple linear regression approach is applied to determine the influence of the independent variable on the dependent variable in the foreign exchange reserve model. The research results show that imports, inflation and the exchange rate have a negative effect on foreign exchange reserves. An increase in these three variables will reduce foreign exchange reserves. The money supply has a positive effect on the exchange rate. The OLS approach produces BLUE regression, because the model is free from classical assumption problems. The implication of the research is that the government needs to implement an expansionary fiscal policy by increasing government spending, encouraging exports and maintaining the stability of the rupiah exchange rate against the US dollar. Stable domestic economic conditions will have an impact on increasing the accumulation of foreign exchange reserves.
Co-Authors Achmad Amirul Dinul Afla Afifa Aminarta Agus Salim Damayanti, Sekar Ayu Dindha Uswatun Khasanah Dini Yuniarti Fitra Pasapawidya Purna Guritno, Danur Condro Ignatius Abasimi Indanazulfa Qurrota A'yun INDANAZULFA QURROTA A’YUN Isna Melati Jihad Lukis Panjawa Jihad Lukis Panjawa Khesita Lail Lintang Khoirudin, Rifki Lak lak Nazhat El Hasanah Lestari Sukarniati Meilinda, Riska Putri Muhammad Safar Nasir Naidhisyia Azzahra Naveed Aslam Naveed Aslam NILMAWANI . Nunung Zahrotul Hayat Reza Ananda Putra Rifda Syahda Nabilah Siti 'Aisyah Baharudin Sugiharti, Rr. Retno Sunil Kumar Chaudhary Suripto Suripto Uswatun Khasanah Uswatun Khasanah Veisa Arthamevia Alif Widodo, Arif Wing-Keung Wong Wisnu Hammam Pratama