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All Journal Diponegoro Journal of Economics
Taufiq Hidayat
Departemen Ilmu Ekonomi dan Studi Pembangunan, Fakultas Ekonomika dan Bisnis, Universitas Diponegoro, Semarang
Economics, Econometrics & Finance

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Analisis Transmisi Saluran Suku Bunga dan Harga Aset pada Penerapan Flexible ITF di Indonesia Taufiq Hidayat; Nugroho Sumarjiyanto Benedictus Maria
Diponegoro Journal of Economics Vol 12, No 4 (2023)
Publisher : Universitas Diponegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/djoe.41708

Abstract

This study aims to analyze the effectiveness of monetary policy transmission implemented by Bank Indonesia through the interest rate and asset price channels in achieving the final target, inflation. The method used in this study is the Vector Error Correction (VEC) model, and the data utilized are monthly data from August 2016 to December 2022. The VEC model shows that, in the long term, the transmission of monetary policy through the interest rate and asset price channels proves to influence inflation. However, in the short term, only the asset price channel shows a significant effect on inflation. The originality of this research lies in analyzing the use of the BI-7 DRR as the new benchmark interest rate in the implementation of the Flexible ITF.
Co-Authors Nugroho Sumarjiyanto Benedictus Maria