Eko Sumando
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PERBANDINGAN MODEL MANAJEMEN SALDO KAS PEMERINTAH (STUDI KASUS PADA SALDO KAS PEMERINTAH INDONESIA TAHUN 2009) Eko Sumando
Jurnal BPPK : Badan Pendidikan dan Pelatihan Keuangan Vol 7 No 1 (2014): Jurnal BPPK (printed version)
Publisher : Badan Pendidikan dan Pelatihan Keuangan - Kementerian Keuangan Republik Indonesia

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Abstract

The purpose of this study is to examine the feasibility of the government cash balance management model based on best practice in an article by Yibin Mu (2006), namely : simple management and active management. This study intends to find out which of this two model that are able to generate a lower total cost of holding cash. The Miller-Orr model for cash management are used to simulate the active management model. The result is active management are able to generate lower opportunity cost of holding cash than simple management but generate higher trading cost. Application of active cash balance management model throught the simulation of Miller-Orr model is unable to generate the optimal target cash balance that can minimize the total cost of holding cash.
FISCAL AND MONETARY POLICY INTERACTION IN INDONESIA : A VAR ANALYSIS FROM 2000-2013 Eko Sumando
Jurnal BPPK : Badan Pendidikan dan Pelatihan Keuangan Vol 8 No 2 (2015): Jurnal BPPK (printed version)
Publisher : Badan Pendidikan dan Pelatihan Keuangan - Kementerian Keuangan Republik Indonesia

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The paper examines the interaction of fiscal and monetary policy and the effectiveness of inflation Targeting Framework (ITF) using vector Autoregression (VAR) method in indonesia from 2000 to 2013. The study uses model that is estimated from the Nordhaus approach and the secondary data obtained from federal Reserve St, Lois (FRED) and CEIC. The study shows the absence of fiscal dominance in Indonesia and the ITF is moderately effective in achieving targeted inflation rate. Tightening monetary policy by Bank Indonesia is able to effect almost 30 per cent the change inflation variability after two year . Expansionary fiscal policy is only able to reduce the unemployment in a very short term. Which will potentially lead to inflation. The result suggest that in a short term the coordination of fiscal and monetary policy is needed and effective to achieve loer unemployment and minimize the gap between the targeted and actual inflation.