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Indra Darmawan
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World Oil Price Changes and Inflation in Indonesia: A Nonparametric Regression Approach Indra Darmawan; Hermanto Siregar; Dedi Budiman Hakim; Adler Haymans Manurung
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 1 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i1.19010

Abstract

This study aims to investigate the effect of world oil price changes on inflation in Indonesia. We used a nonparametric regression approach that never been employed in previous studies, both domestically and internationally. This study shows that the second-order Epanechnikov kernel function is statistically significant in explaining the effect of world oil price changes on Indonesia's inflation. We found that the world oil price changes had a lower effect on Indonesia's inflation when its price below USD 100 per barrel, and its effect became higher when its price above USD 100 per barrel. These results have important implications for Bank Indonesia and Indonesia's government in response to the world oil price changes. The policies that aimed at reducing the effect of world oil price changes on inflation in Indonesia should consider the world oil price level.JEL Classification: A12, B26, C14, E31, F29, F62How to Cite:Darmawan, I., Siregar, H., Hakim, D.B., & Manurung, A.H.. (2021). World Oil Price Changes and Inflation in Indonesia: A Nonparametric Regression Approach. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 161-176. https://doi.org/10.15408/sjie.v10i1.19010.
Co-Authors Adler Haymans Manurung Dedi Budiman Hakim Hermanto Siregar