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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

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

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

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

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.Â

ANALISIS DAMPAK KEPEMILIKAN SURAT BERHARGA OLEH BPD TERHADAP PERTUMBUHAN EKONOMI DAERAH Khairur dan Telisa Aulia Falian Raziqiin; Telisa Aulia Falian
Majalah Ilmiah Bijak Vol 14, No 1: march 2017
Publisher : Institut Ilmu Sosial dan Manajemen STIAMI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31334/bijak.v14i1.58

Local government-owned banks (BPD), was established in order to help accelerate the development of the area where the BPD located. The expected goals of this study are: To measure the effect of the placement of funds by BPD on regional economic growth, to measure investment lending by BPD to regional economic growth. Population was all the existing Regional Development Bank in Indonesia. Based on data from Bank Indonesia, the number of regional development banks perDesember 2013 as many as 26 banks. The type of data that will be used in this research is time series data (time series) from January 2009 until December 2013 The model that will be used in this research is the use of panel data. Results of research on Analysis of Impact of Ownership of Securities by BPD Against Regional Development, government capital spending, credit productive, ownership of securities by BPD positive effect on GDP, and significantly affect GDP, labor force have a positive influence on the GDP, but the effect was not significant workforce to GDP.Badan Pusat Statistik. Berbagai tahun. Data Realisasi APBD. Badan PusatStatistik, Jakarta. Bank Indonesia. Berbagai tahun. Laporan Publikasi Bank Umum. Bank Indonesia,Jakarta. Budiono. (2001). Ekonomi Moneter Edisi 3. Yogyakarta : BPFE Djojosubroto, Dono Iskandar. (2004). Koordinasi Kebijakan Fiskal dan Moneter di Indonesia Pasca Undang – undang Bank Indonesia 1999. Jakarta : Kompas Dornbusch, Rudiger, Stanley Fischer, Richard Startz. (2004). Makroekonomi. (Yusuf Wibisono, Roy Indra Mirazudin, terjemahan). Jakarta :MediaGlobal Edukasi. Gujarati, Damodar. (1997). Ekonometrika Dasar. (Sumarno Zein, terjemahan).Jakarta : Erlangga. Gultom, Lukdir. (2013). Tantangan Meningkatkan Efisiensi dan Efektifitas BPD sebagai Regional Champion Dalam Pengembangan Usaha Mikro, Kecil dan Menengah di Indonesia, Makalah SESPIBI Angkatan XXXI (Tidak Dipublikasikan). Bank Indonesia. Husnan, Suad. (2003). Dasar – dasar Teori Portofolio dan Analisis Sekuritas.Yogyakarta : UPP AMP YKPN. Kasmir. (2002). Dasar – Dasar Perbankan. Jakarta : PT. Raja Grafindo Persada. Kuncoro, Mudrajad. (2001) Metode Kuantitatif : Teori dan Aplikasi untuk Bisnis dan Ekonomi. Yogyakarta : AMP YKPN. Latumaerissa dan Julius R. (1999). Mengenal Aspek-aspek Operasi Bank Umum. Jakarta : Bumi Aksara. Lipsey, Richard G, et al. (1997). Pengantar Makro Ekonomi. ( Jaka Wasana danKibrandoko, terjemahan). Jakarta :Binarupa Aksara. Mankiw, Gregory. (2000). Macroeconomics Theory. New York : Worth PublisherInc. Nachrowi, Nachrowi D., Hardius Usman. (2006). Pendekatan Populer dan Praktis EKONOMETRIKA untuk Analisis Ekonomi dan Keuangan.Jakarta : Lembaga Penerbit FEUI. Rahmany, A. Fuad. (2004). Era Baru Kebijakan Fiskal : Pemikiran, Konsep dan Implementasi. Jakarta : Penerbit Buku Kompas, hal. 445 – 462. Rivai, Veithzal, Andria Permata Veithzal, Ferry N. Idroes. (2007). Bank and Financial Institution Management : Conventional & Sharia System, Jakarta : RajaGrafindo Persada. Sunarsip. (2008). Relasi Bank Pembangunan Daerah dan Perekonomian Daerah, dimuat dalam Republika, Rabu, 9 Januari 2008. Rubrik Pareto hal.16 Sunarsip. (2011). Transformasi BPD. Dimuat Infobank Edisi Januari 2011. Republik Indonesia, Kementrian Keuangan (2010), Potensi Bank Pembangunan Daerah Sebagai Pendiri Dana Pensiun Lembaga Keuangan,Tim Studi Potensi Bank Pembangunan Daerah Sebagai Pendiri Dana Pensiun. Jakarta.Waluyanto, Rahmat. (2004). Era Baru Kebijakan Fiskal : Pemikiran, Konsep dan Implementasi. Jakarta : Penerbit Buku Kompas, hal. 463 – 508. Wuryandari, Gantiah. (2013). Mengusung Bank Pembangunan Daerah (BPD) Sebagai Bank Fokus Sektor Strategis Dalam Mendukung Pembangunan Nasional, Makalah SESPIBI Angkatan XXXI (Tidak Dipublikasikan). Bank Indonesia.

ANALISIS DAMPAK KEPEMILIKAN SURAT BERHARGA OLEH BPD TERHADAP PERTUMBUHAN EKONOMI DAERAH Khairur dan Telisa Aulia Falian Raziqiin; Telisa Aulia Falian
Majalah Ilmiah Bijak Vol 14, No 1: march 2017
Publisher : Institut Ilmu Sosial dan Manajemen STIAMI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31334/bijak.v14i1.58

Local government-owned banks (BPD), was established in order to help accelerate the development of the area where the BPD located. The expected goals of this study are: To measure the effect of the placement of funds by BPD on regional economic growth, to measure investment lending by BPD to regional economic growth. Population was all the existing Regional Development Bank in Indonesia. Based on data from Bank Indonesia, the number of regional development banks perDesember 2013 as many as 26 banks. The type of data that will be used in this research is time series data (time series) from January 2009 until December 2013 The model that will be used in this research is the use of panel data. Results of research on Analysis of Impact of Ownership of Securities by BPD Against Regional Development, government capital spending, credit productive, ownership of securities by BPD positive effect on GDP, and significantly affect GDP, labor force have a positive influence on the GDP, but the effect was not significant workforce to GDP.Badan Pusat Statistik. Berbagai tahun. Data Realisasi APBD. Badan PusatStatistik, Jakarta. Bank Indonesia. Berbagai tahun. Laporan Publikasi Bank Umum. Bank Indonesia,Jakarta. Budiono. (2001). Ekonomi Moneter Edisi 3. Yogyakarta : BPFE Djojosubroto, Dono Iskandar. (2004). Koordinasi Kebijakan Fiskal dan Moneter di Indonesia Pasca Undang – undang Bank Indonesia 1999. Jakarta : Kompas Dornbusch, Rudiger, Stanley Fischer, Richard Startz. (2004). Makroekonomi. (Yusuf Wibisono, Roy Indra Mirazudin, terjemahan). Jakarta :MediaGlobal Edukasi. Gujarati, Damodar. (1997). Ekonometrika Dasar. (Sumarno Zein, terjemahan).Jakarta : Erlangga. Gultom, Lukdir. (2013). Tantangan Meningkatkan Efisiensi dan Efektifitas BPD sebagai Regional Champion Dalam Pengembangan Usaha Mikro, Kecil dan Menengah di Indonesia, Makalah SESPIBI Angkatan XXXI (Tidak Dipublikasikan). Bank Indonesia. Husnan, Suad. (2003). Dasar – dasar Teori Portofolio dan Analisis Sekuritas.Yogyakarta : UPP AMP YKPN. Kasmir. (2002). Dasar – Dasar Perbankan. Jakarta : PT. Raja Grafindo Persada. Kuncoro, Mudrajad. (2001) Metode Kuantitatif : Teori dan Aplikasi untuk Bisnis dan Ekonomi. Yogyakarta : AMP YKPN. Latumaerissa dan Julius R. (1999). Mengenal Aspek-aspek Operasi Bank Umum. Jakarta : Bumi Aksara. Lipsey, Richard G, et al. (1997). Pengantar Makro Ekonomi. ( Jaka Wasana danKibrandoko, terjemahan). Jakarta :Binarupa Aksara. Mankiw, Gregory. (2000). Macroeconomics Theory. New York : Worth PublisherInc. Nachrowi, Nachrowi D., Hardius Usman. (2006). Pendekatan Populer dan Praktis EKONOMETRIKA untuk Analisis Ekonomi dan Keuangan.Jakarta : Lembaga Penerbit FEUI. Rahmany, A. Fuad. (2004). Era Baru Kebijakan Fiskal : Pemikiran, Konsep dan Implementasi. Jakarta : Penerbit Buku Kompas, hal. 445 – 462. Rivai, Veithzal, Andria Permata Veithzal, Ferry N. Idroes. (2007). Bank and Financial Institution Management : Conventional & Sharia System, Jakarta : RajaGrafindo Persada. Sunarsip. (2008). Relasi Bank Pembangunan Daerah dan Perekonomian Daerah, dimuat dalam Republika, Rabu, 9 Januari 2008. Rubrik Pareto hal.16 Sunarsip. (2011). Transformasi BPD. Dimuat Infobank Edisi Januari 2011. Republik Indonesia, Kementrian Keuangan (2010), Potensi Bank Pembangunan Daerah Sebagai Pendiri Dana Pensiun Lembaga Keuangan,Tim Studi Potensi Bank Pembangunan Daerah Sebagai Pendiri Dana Pensiun. Jakarta.Waluyanto, Rahmat. (2004). Era Baru Kebijakan Fiskal : Pemikiran, Konsep dan Implementasi. Jakarta : Penerbit Buku Kompas, hal. 463 – 508. Wuryandari, Gantiah. (2013). Mengusung Bank Pembangunan Daerah (BPD) Sebagai Bank Fokus Sektor Strategis Dalam Mendukung Pembangunan Nasional, Makalah SESPIBI Angkatan XXXI (Tidak Dipublikasikan). Bank Indonesia.

Inklusi Keuangan dan Ketimpangan Pendapatan: Apakah Struktur Keuangan Berpengaruh? Universitas Indonesia Indana Zulfa Sari; Telisa Aulia Falianty
JURNAL EKONOMI DAN KEBIJAKAN PEMBANGUNAN Vol 10 No 1 (2021): Jurnal Ekonomi dan Kebijakan Pembangunan
Publisher : IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29244/jekp.10.1.2021.72-100

Terdapat perdebatan mengenai dampak inklusi keuangan terhadap ketimpangan pendapatan. Dampak inklusi keuangan terhadap ketimpangan pendapatan kemungkinan besar bergantung pada banyak faktor. Penelitian ini bertujuan untuk menginvestigasi dampak inklusi keuangan terhadap ketimpangan pendapatan kondisional pada struktur keuangan. Penelitian ini menggunakan data 33 provinsi di Indonesia dari tahun 2010 hingga 2020. Metode analisis yang digunakan adalah static panel data model. Hasil penelitian ini menunjukkan bahwa inklusi keuangan dan struktur keuangan tidak berdampak signifikan terhadap ketimpangan pendapatan. Akan tetapi, untuk provinsi dengan nilai HDI kategori tinggi, inklusi keuangan dan struktur keuangan berdampak signifikan negatif terhadap ketimpangan pendapatan. Kebijakan mengenai inklusi keuangan untuk mengatasi masalah ketimpangan pendapatan perlu memperhatikan karakteristik setiap wilayah, khususnya kualitas sumber daya manusia.

Dampak Kebijakan Moneter dan Makroprudensial terhadap Pembangunan Keuangan Studi Lintas Negara, 2000 – 2014 Nisa Nurjannah Sukowati; Telisa Aulia Falianty
Jurnal Ekonomi Dan Statistik Indonesia Vol 1 No 3 (2021): Berdikari: Jurnal Ekonomi dan Statistik Indonesia (JESI)
Publisher : Future Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.11594/jesi.01.03.07

Penelitian ini bertujuan untuk menginvestigasi dampak kebijakan moneter dan makroprudensial terhadap pembangunan keuangan, baik di negara maju dan berkembang. Dengan menggunakan regresi panel data dinamis metode GMM pada 43 negara, penelitian ini menunjukkan bahwa terdapat dampak negatif akibat pelonggaran kebijakan tersebut. Penurunan suku bunga kebijakan dan indeks makroprudensial terutama instrumen kredit dan likuiditas dapat meningkatkan rasio kredit privat terhadap PDB, yang berarti mendorong proses pembangunan keuangan. Selanjutnya, penurunan suku bunga kebijakan signifikan mendorong proses pembangunan keuangan negara maju, namun indeks makroprudensial tidak signifikan. Sebaliknya, penurunan suku bunga kebijakan dan indeks makroprudensial tidak signifikan berdampak pada proses pembangunan keuangan negara berkembang.

PERANAN PERKEMBANGAN INOVASI FINANSIAL SISTEM PEMBAYARAN DALAM MEMPENGARUHI PERMINTAAN UANG DI INDONESIA Endah Siska Aristiyowati; Telisa Aulia Falianty
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 2 No 3 (2018)
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

This paper examines the dynamic interaction between financial innovation development in the payment system to money demand function especially for currency and narrow money, from 2007-2017 using Indonesia monthly data. This research based on Baumol (1952) and Tobin (1956) and Lippi and Secchi (2009) theory which stated that improvement of technology in the payment system will lead to a decrease in transaction demand for money. From estimation result using Vector Error Correction Model (VECM) method, study reveals that tremendous development in the payment system on the last eleven years i.e Real Time Gross Settlement, Clearing, Automatic Teller Machine (ATM)atauDebit Card, Credit Card and electronic money using several proxies, such as using transaction value (with and without clearing), total transaction value, transaction volume, ratio of financial innovation in the payment system to Gross Domestic Product (GDP), broad money (M2) to narrow money (M1) ratio, ratio of financial innovation in the payment system to narrow money (M1) will decrease currency and narrow money (M1). Analysis of the financial innovation in the payment system role in affecting money demand (currency and narrow money) is very important so that money demand function is not misspesificied and in determining monetary policy has considered the development of payment system technology.

The Impact of Electronic Money on the Efficiency of the Payment System and the Substitution of Cash in Indonesia Alghifari Mahdi Igamo; Telisa Aulia Falianty
SRIWIJAYA INTERNATIONAL JOURNAL OF DYNAMIC ECONOMICS AND BUSINESS SIJDEB, Vol. 2 No. 3, September 2018
Publisher : Faculty of Economics, Universitas Sriwijaya

This paper examines the effect of electronic money on the efficiency of the payment system and narrow money demand function from 2007-2017 using Indonesia monthly data. This reseacrh found that electronic money increase private consumption expenditures as a proxy of the efficiency. On the other hand, result showed that electronic money decrease narrow money (M1).

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