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All Journal JEJAK AFEBI Economic and Finance Review KEK (Kajian Ekonomi dan Keuangan) Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences Indonesian Capital Market Review Jurnal Kebijakan Ekonomi International Journal of Applied and Advanced Multidisciplinary Research (IJAAMR)
Telisa Aulia Falianty
MPKP FEB UI
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Analysis of The Possibility of Price Level Targeting in Indonesia to Achieve Price Stability an Alternative to Inflation Targeting Eka Budiyanti, Telisa Aulia Falianty
Jurnal Kajian Ekonomi dan Keuangan Vol 13, No 2 (2009)
Publisher : Badan kebijakan Fiskal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31685/kek.v13i2.159

Abstract

Price Stability is one of the important macroeconomic policy goals. In recent years, price stability has become an important issue for society, especially since oil and global food price increase continually. This phenomenon motivates this study to know, wheter Inflation Targeting (IT) or Price Level Targeting that more appropriate to apply in Indonesia's monetary framework.IT is ignoring the deviation from past target. The average inflation rate will be convergent to the long term target. Other alternative that has been studied scientifically is Price Level Targeting (PLT). PLT is a policy that has the effect of systematically responding to deviations of the price level from the price level target to preclude long term price level drift.This study will discuss possibility to apply PLT over IT in Indonesia from welfare gain side. The result from theoretical modeling, generally indicate that PLT isbetter to apply than IT. But empirical result using Dittmar, Gavin, and Kydland model (1999) shows that IT is gap hypothesis in indonesia during period of study (1983-2008). The result with secondary data also show that IT has been quite successfully applied consistently. It can be seen by stationary inflation during period of study.
DETERMINAN INFLASI REGIONAL KOTA-KOTA DI PROVINSI JAWA BARAT TAHUN 2000 - 2009 Falianty, Telisa Aulia; Hanifah, Luthfi
Jurnal Kajian Ekonomi dan Keuangan Vol 16, No 1 (2012)
Publisher : Badan kebijakan Fiskal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31685/kek.v16i1.24

Abstract

This research is intended to analyze determining variables of regional inflation at cities of West Java Province during 2000 - 2009. This study is motivated by the facts that inflation is known as an important indicator for economic development planning. Therefore, managing inflation rate become important for government to arrange their national development planning. Managing national inflation should follow whit managing regional inflation. Thus, identijying regional inflation determining variables become important process for managing phase of regional inflation. Approximation for regional inflation determining variable are monetary variables and non monetary variables. Monetary variables consist of real interest rate, while non monetary variables consist of regional indigenous income (PAD), regional expenditure, infrastructure condition, minimum wages rate, and inflation rate of DKl Jakarta. Method research for analysis is utilizes data panel regression Of G2SLS (Generalized two stage least square) with fixed effect method. The findings of this study point out that regional inflation at cities of West Java Province significantly affected by real interest rate, minimum wages rate, infrastructure condition, inflation rate of DKl Jakarta, regional indigenous income (PAD), and regional expenditure. Thus, shown that cost push effect system and demand pull effect system is work on to determine regional inflation at cities of West Java Province. This research also finding that regional that regional interaction is influencing regional inflation rate as shown on interaction between DKl Jakarta Province and cities in West Java Province which presumtive cause by distribution system of goods, commodity, and services from production area to consumption area.
The Investment of Upstream Oil and Gas in Indonesia Muarofah, Siti; Falianty, Telisa Aulia
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 13, No 1 (2020): March 2020
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v13i1.23248

Abstract

Direct investment is expected to be a source of financing for the current account deficit in Indonesia's Balance of Payments. One of the contributors to the current account deficit is the oil and gas trade balance. Therefore, this study will focus on direct investment in the upstream oil and gas sector. This study will examine the impact of implementing regulations related to restrictions on costs that can be claimed to the government and economic factors that include prices and costs per unit of oil and gas on the upstream oil and gas investment. The study was conducted using micro data from 33 oil and gas companies in Indonesia, with a data period 2005-2018. The analysis model used is panel data regression. Empirical results show that the implementation of regulation as well as price per unit (lag-2) have a significant and positive correlation to the upstream oil and gas investment. While operational cost per unit (lag-2) have a significant effect with a negative correlation after the implementation of the regulation.
The Different Role of Innovation on Indonesian Intra Industry Trade Alfarisi, Salman; Falianty, Telisa Aulia
Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences Vol 5, No 1 (2022): Budapest International Research and Critics Institute February
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v5i1.3577

Abstract

This study aims to look at the role of differences in innovation between Indonesia and sixty selected partner countries in encouraging bilateral intra-industrial trade (IIT) in the 2009-2017 period with the fixed effect model estimation method (FEM). The innovations in other research generally use RnD spending, number of patents, and other cost-based variables. Whereas in this study using the Global Innovation Index score with the hope of capturing the level of innovation of each country more comprehensively. The results showed that the difference in innovation (DGII) was proven positively and significantly in encouraging IIT Indonesia and partner countries. Control variables, Economic openness (OPEN), GDP average (AGDP), differences in per capita income (DGDPC), and foreign direct investment (FDI) are known to have a positive and significant role in driving IIT. While another control variables, trade cost (TC) have a negative and significant effect in encouraging IIT. 
Monetary Policy and Herding Behavior: Empirical Evidence From Indonesia Stock Market Wicaksono, Retno Puspita K.; Falianty, Telisa Aulia
Indonesian Capital Market Review Vol. 14, No. 1
Publisher : UI Scholars Hub

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Abstract

This study aims to analyze the role of monetary policy, including the spillover of the US Federal Reserve (Fed) monetary policy, in the existence of herding behavior in the Indonesian stock market. We used beta herding to measure the level of herding behavior and analyze the relationship between monetary policy and beta herding using the VECM model, as well as IRF and FEVD. This study shows that monetary policy plays a role in the existence of herding behavior in the Indonesian stock market. Although the effect of monetary policy on herding behavior is relatively small, Fed monetary policy shocks have a greater effect on the existence of herding behavior in the Indonesian stock market. The credibility of Bank Indonesia (BI) and the Fed may play a role in shaping investors’ expectations. Therefore, policymakers have to take into account the volatility of asset prices in formulating monetary policy
The Role of Digitalization of Financial Inclusion in Reducing Income Gaps: an Empirical Study at 33 Provinces in Indonesia Murtama, Abram Julion; Falianty, Telisa Aulia
International Journal of Applied and Advanced Multidisciplinary Research Vol. 2 No. 3 (2024): March 2024
Publisher : MultiTech Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59890/ijaamr.v2i3.1555

Abstract

One of the problems faced by developing countries, including Indonesia, is income inequality. It is hoped that digitalization of financial inclusion can solve this problem. Increasing financial inclusion is expected to make financial services more accessible to everyone, especially for poor groups who previously did not have access to financial services. This research aims to analyze the role of digitalization of financial inclusion in reducing income gaps using empirical evidence from 33 provinces in Indonesia during the 2013-2022 period, using the fixed effects estimation method. The results of this study indicate that financial inclusion has a negative and significant impact on the Williamson index. This means that increasing financial inclusion can reduce income inequality. The decomposition results for each dimension show that the access dimension has a significant effect on reducing income inequality in Indonesia, while the usage dimension shows a positive influence on income inequality, but the presence of the SNKI policy in Indonesia in 2016-2022 has a negative influence on income inequality in Indonesia.
Spillover Effect of Global Financial Cycle To Asset Markets in Asean-5 Countries: A Structural VAR Approach Andaiyani, Sri; Falianty, Telisa Aulia
AFEBI Economic and Finance Review Vol. 2 No. 2 (2017): December
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47312/aefr.v2i02.97

Abstract

An upsurge and volatility of capital flows to Emerging Asian Economies indicated that there is the potential effect of global financial cycle to emerging market. It provides an overview of investor risk aversion in short term investment after financial crisis 2008. Global financial cycle could have a significant impact to asset prices, including equity prices and property prices. Rey (2015) has triggered an interesting discussion about global financial cycle. She found that there was a global financial cycle in capital flows, asset prices and credit growth. This cycle was co‐moves with the VIX, a measure of uncertainty and risk aversion of the markets. Therefore, this study attempts to analyze empirically global financial cycle shocks, measured by the VIX, on equity prices and property prices in ASEAN-5, namely Indonesia, Malaysia, Singapore, Thailand and Philippines. We estimate quarterly frequency data from Q1 1990 to Q2 2016 with Structural Vector Autoregressive (SVAR) approach. The result of this study showed that global financial cycle has a negative significant impact on the ASEAN-5 asset markets, in spite of the response of shock differs by country and size. This result is consistent with ASEAN-5 as small open economies that remain vulnerable to the global factor. This study contributes to the literature in several ways. First, we identify not only cyclical expansions or contraction in asset markets but also the impact of global financial cycle to asset markets in ASEAN-5 countries. Second, we investigate whether there are heterogeneous responses of ASEAN-5 countries to global financial cycle shocks. Third, we also identify the pattern of cycle in ASEAN-5 countries.JEL Classification: F30, F37, F42Keywords: ASEAN, Asset Markets, Global Financial Cycle, SVAR
Dampak Pembiayaan Kredit Perbankan terhadap Nilai Tambah Industri Pengolahan di Indonesia Sholihah, Ita Kurnia; Falianty, Telisa Aulia
Jurnal Kebijakan Ekonomi Vol. 9, No. 2
Publisher : UI Scholars Hub

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Abstract

This study aims to measure the effect of bank credit financing to value-added of manufacturing industry in Indonesia. This study uses the data of manufacturing industry sub-sector level. The data used are sub-sector credit, value added, labor, fixed capital, the minimum wage, the exchange rate, and the Gross Domestic Produc. This study period is 2002 – 2012 and using a Two-Stage Least Square with Fixed Effect as a estimation methode. Finally, the results showed that the significant effect of bank credit financing to encourage value-added manufacturing industry in Indonesia.
Uji Empiris Reformulasi Kondisi Marshall-Lerner untuk Kasus Ekspor dan Impor Manufaktur di Indonesia Yudotaruno, Taukhid; Falianty, Telisa Aulia
Jurnal Kebijakan Ekonomi Vol. 11, No. 2
Publisher : UI Scholars Hub

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Abstract

This study aims to examine the condition of Marshall-Lerner regard to the simultaneous relationship of export and import of Indonesia’s manufacturing sector. This simultaneous relationship occurs due to Indonesia’s manufacturing industry is part of the global production network as of its export products containing imported intermediate inputs. SVAR is using to analyze the simultaneous relationship between variables with their own variables and other variables in the past. Its due to changes in export and import values do not immediately occur at the same time with changes in exchange rates. Empirical results shows that by taking into account the simultaneous relationship of exports and imports, Marshall- Lerner conditions still met.
Co-Authors Andaiyani, Sri Luthfi Hanifah, Luthfi MUAROFAH, SITI Murtama, Abram Julion Sahetapy, Everd Hardus Salman Alfarisi Shinta Dewi Perwitasari Sholihah, Ita Kurnia Wicaksono, Retno Puspita K. Yudotaruno, Taukhid