Guntur Riyanto
Universitas Sebelas Maret

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Relationship Analysis of HNKPC and Monetary Policy on a NCM Framework in ASEAN-3 Shella Elly Sritrisniawati; Evi Gravtiani; Guntur Riyanto
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 15, No 2 (2022): September 2022
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v15i2.37266

Abstract

The Hybrid New Keynesian Philips Curve (HNKPC) is an update of the Philips Curve. HNKPC discusses the combination of forward looking and backward looking on the inflation rate. In this case, the shock of the inflation rate to the unemployment rate will be analyzed according to the HNKPC. The dynamics of inflation used from the monetary policy aspect is the inflation targeting framework (ITF). This research will also combine the inflation rate of various elements in the new consensus macroeconomic framework in ASEAN-3 as an up-to-date research idea. The object of analysis used is ASEAN-3 covering Indonesia, the Philippines and Thailand. The method used in this research is Structural Vactor Autoregression (SVAR) in the first quarter of 2000 – 4th quarter of 2021. The results of the SVAR find that inflation fluctuations are backward looking and forward looking in accordance with the HNKPC concept of the full unemployment rate in Indonesia, according to some in Thailand and not in the Philippines. The ITF is a monetary policy whose annual inflation target is determined by the central bank in accordance with the new consensus macroeconomic perspective
Diversification of Indonesian Export Markets to Non-Traditional Countries Guntur Riyanto; Widyastutik Widyastutik; Bayu Krisnamurthi; Abdul Kharis Almasyhari
Economics Development Analysis Journal Vol 11 No 2 (2022): Economics Development Analysis Journal
Publisher : Economics Development Department, Universitas Negeri Semarang, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v11i2.57369

Abstract

The Ukraine-Soviet Union war and the Covid-19 pandemic made the world economy experience complex problems. Indonesia was also affected, especially the decline in exports, so it needed to find new trading partners. This study aims to determine the potential diversification of Indonesia's export market to non-traditional countries, namely Turkey, Brazil, Georgia and the Russian Federation as well as 10 economic commodities. The data used in this study is secondary data. This data is obtained through the GTAP database (Global Trade Analysis Project) version 10. In this GTAP database there are input - output data from 121 countries representing 98% of world GDP. The results of this study are Brazil and Turkey can become Indonesia's trading partners, while Georgia and the Russian Federation have little opportunity to establish trade cooperation with Indonesia