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All Journal Economic Journal of Emerging Markets Jurnal Ekonomi Kuantitatif Terapan J@TI (TEKNIK INDUSTRI) Jurnal Sosial Ekonomi Pertanian JEJAK UNEJ e-Proceeding Bisma: Jurnal Bisnis dan Manajemen EKUITAS (Jurnal Ekonomi dan Keuangan) Economics and Finance in Indonesia JURNAL AKUNTANSI, MANAJEMEN DAN EKONOMI Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences Journal of Management and Business Environment (JMBE) Journal of Economics Research and Social Sciences Jurnal Ekonomi Indonesia AJAD : Jurnal Pengabdian kepada Masyarakat Jurnal REP (Riset Ekonomi Pembangunan) Jurnal Ekuilibrium Jurnal Pengabdian Nasional (JPN) Indonesia Jejak: Jurnal Ekonomi dan Kebijakan
Adhitya Wardhono
Department Of Economics, Faculty Of Economics And Business, Universitas Jember, East Java
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Industrial & Manufacturing Engineering Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Interaction between Monetary and Macroprudential Policy to Enhance Financial Stability: Evidence from Indonesia Yulia Indrawati; Adhitya Wardhono; Hadi Paramu; M. Abd. Nasir; Nyoman Gede Krishnabudi; Ciplis Gema Qoriah
Budapest International Research and Critics Institute-Journal (BIRCI-Journal) Vol 5, No 2 (2022): Budapest International Research and Critics Institute May
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v5i2.4794

Abstract

This study aimed to evaluate the interaction between monetary and macroprudential policy through the function of the central bank's objectives, namely the plain vanilla taylor rule, lean against the wind taylor rule, independent macroprudential policy rule and lean against the wind taylor rule with macroprudential policy. The parameter value used was based on the previous empirical study. The numerical optimizer csminwel of Chris Sims was used to solve the quadratic linear problems. The optimum coefficient calculation applied dynare optimal simple rule routine using the application of dynare 4.5.7 and matlab software. The result shows the macroprudential instruments, known as a buffer in monetary policy, we’re able to optimally minimize the loss function of the central bank. The central bank carried out both monetary and macroprudential policy in a comprehensive way to achieve two purposes as stated in the tinbergen principle. The interest rate policy is intended for reaching inflation and output stability, while the macroprudential policy is for credit growth. Macroeconomic stability with the addition of macroprudential policy is significant. This advantage is intended to cover greater volatility both in the policy rate and the inflation rate.
Co-Authors Adelia Niandhita Palupi Adiet Try Waluyo Affiana, Alfina Nur Agung Nugroho Puspito AGUS FERDIANTO Ananta, Radina Widya Anggira, Desi Arinanta, Arya Ariz Aprilia Ariz Aprilia Asep Mulyana Asep Mulyana Atiqa Zahra Aulia Aurelya, Lalyta Badara Shofi Dana Ben Hansel N. Zebua Cahyani, Ardhya Pramisti Regita Cahyani, Keren Filosa Christina Dwi Ayu Wulandari Ciplis Gema Qori'ah Ciplis Gema Qori'ah Ciplis Gema Qori`ah Ciplis Gema Qori’ah Ciplis Gema Qo’riah Ciplis Gemah Qo’riah Daniyah Basalamah Dewayani, Nyiur Rahma Dini Nurin Alfiyah Elnadia, Salsabillah Rahmah Erzaldi, M Dwiki Fadilah, Iftitah Arya Putri Faiza, Laila Niswatul Faizyah, Nadia Nurdiyana Farokhatun Nazilah Fatmawati, Yeni Fauziah, Rafika Febriani, Nawal Aprodita Ferdyansyah, Dandy Firmansya, Aditya Alif Gigih Pratomo Gontha, Chelsea Tiara Hadi Paramu Hartita, Margaretha Putri Hasbi Mubarak Suud Ika Nurjannah Ika Purnamasari Imelda, Laela Vita Indrawati , Yulia Innabilla, Mirsya Rifah Aulia Intansari, Herlindha Angghelinna Devfi Josi Ali Arifandi Julian, Alicia Zalwa Kiky Indah Sari Kristianawati, Fany Indah Kumalasari, Nandya Alfina Laela, Intan Laili, Anneja Maghfirotul Lestari, Dhea Suci Lestari, Ria Nova Agustin Puji Lilis Yuliati Lukman M. Baga M Abd Nasir M Abd. Nasir M. Abd. Nasir M. Abd. Nasir M. Abd. Nasir M. Abd. Nasir M. Alif Muzhaffar Maharany, Adelia Dwifa Ma’arif, Samsul Mellfani Rhamadinda Nendra Tigara Mochammad Ridwan G. Mohammad Ubaidillah Mu'min, M. Silahul Muchammad Savero Sulthan Marzi Nariswari, Septiya Nasir, M Abd Nasir, M Abd Nasir, M. Abd. Nawu, Maria Natalia Ningsih, Arumiyati Nisah, Ulfatun Nur Feriyanto Nurhandini, Valda Sari Nurul Amalia Nyoman Gede Krishnabudi Oktavia Rahma Panji Tirta Nirwana Putra Prabowo, Donny Aryanto Prakoso, Bhim Puspitasari, Michele Stefany Nazwa Puspito, Agung Nugroho Qori’ah, Ciplis Gema Rachma P. A, Shabrina Rafa, Muhammad Rahmadini, Intan Aulia Rahmanda, Rahadian Ramadhani, Nabila Fajrin Kurnia Saindra, Rafi Dzulfiqar Faiz Salsabila, Adelia Syahara Salsabila, Ayu Sari, Kiky Indah Sarifudin, Ahmat Satrio Wicaksono Shafaana, Raihana Aulia Sholeh Avivi Sholehah , Nur' Imami Barokhatus Sifah, Isrina Sinulingga, Trisna Handayani BR Sultonia, Ivone Suud, Hasbi Mubarak Syahzanan, Fatimah Tazkiya, Anisa Thaka, Ichan Ryan Ubaidillah, Mohammad Waluyo, Adiet Try Wardani, Amanda Julia Wibowo, Kaisar Belmiro Khalfani Wijayanti, Karmila Dwi Yaqin, Misbahol Yoniksa K, Bintang Yulia Indrawati Yulia Indrawati