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All Journal Journal of Applied Economics in Developing Countries Optimum: Jurnal Ekonomi dan Pembangunan
Lukman Hakim
Faculty of Economics and Business, Universitas Sebelas Maret
Economics, Econometrics & Finance

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ANALYSIS THE EFFECT USE DIGITAL PAYMENT ON PROBABILITY OF CONSUMPTION UNS STUDENTS Yesskil Sufaha Fiqh; Lukman Hakim; Aranka Ignasiak-Szulc
Journal of Applied Economics in Developing Countries Vol 8, No 2 (2023): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/jaedc.v8i2.79834

Abstract

This research is to find out whether there is a digital payment that the possibility of student consumption will be increasingly wasteful or become more efficient and choose to save money. The respondents of this study are active students of Universitas Sebelas Maret and have used digital payments in transactions. The number of samples taken in this study were 100 respondents. This research analysis technique uses quantitative methods using logistic regression. The results of this research are that the Income, Savings and Education variables do not have a significant influence on the possibility of consumption patterns in the use of digital payments. Meanwhile, the variables Expenditure, Age and Gender have a significant influence on the possibility of consumption patterns in using digital payments.
GOVERNMENT DEBT VS. CONSUMPTION: TESTING RICARDIAN EQUIVALENCE IN SIX ASEAN COUNTRIES Nur Qoyyim Fathoni; Lukman Hakim
Journal of Applied Economics in Developing Countries Vol 7, No 2 (2022): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/jaedc.v7i2.79453

Abstract

Fiscal policy in the form of government debt becomes an exciting debate using the Ricardian Equivalence Hypothesis. Because the Ricardian Equivalence Hypothesis is opposite to Keynes's theory, the Ricardian Equivalence Hypothesis assumes that the community behaves rationally; government debt at this time will lead to a public burden in the future, and government debt will not affect society's consumption. This study examines the validity of the Ricardian Equivalence Hypothesis in six ASEAN countries using secondary data on household consumption, government debt, gross domestic product (GDP), government expenditure, and tax revenue. The study uses a data panel model in the period following the Asian crisis in 1998 and the period following the global crisis in 2008. The aftermath of the Asian crisis showed a variable of government debt, gross domestic product, and government expenditure with a significant overpost on household consumption. In contrast, the tax revenue variable negatively affected household consumption. The results estimation of the global post-crisis estimate es indicate gross domestic product variable with significant overage on household consumption while the government debt variable, government expenditure, and tax revenue have a negative relationship to household consumption.
Different houses, different channels: Monetary policy, macroprudential regulation, and bank liquidity in Indonesia’s housing market Ariyanto Adhi Nugroho; Lukman Hakim; Dedi Susanto
Optimum: Jurnal Ekonomi dan Pembangunan Vol. 16 No. 2 (2026)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/optimum.v16i2.17610

Abstract

Existing studies typically assume that monetary and macroprudential policies are transmitted uniformly across housing markets, despite substantial differences in financing structures and buyer characteristics across housing segments. This study addresses this gap by examining whether the effects of monetary policy, macroprudential regulation, and bank liquidity differ across small, medium, and large housing markets in Indonesia. Using quarterly panel data from 17 provinces covering 2012Q1–2024Q4, we employ a fixed-effects framework to estimate the effects of interest rates, Loan-to-Value (LTV) regulation, bank liquidity, and their interaction on segment-specific housing prices. The results provide strong evidence of heterogeneous policy transmission. LTV policy significantly affects housing prices across all segments, whereas monetary policy significantly affects small and medium house prices but not large house prices. Moreover, the interaction between LTV policy and bank liquidity is significant only in the large-house segment, indicating that the transmission of macroprudential policy varies with housing market size and liquidity conditions. These findings demonstrate that aggregate housing price responses can mask important differences across market segments. The study contributes to the housing policy literature by providing segment-level evidence on the heterogeneous transmission of monetary and macroprudential policies in an emerging-market economy. The findings also suggest that housing and financial-stability policies may benefit from greater consideration of housing-segment heterogeneity when assessing policy transmission and market responses.
Co-Authors Aranka Ignasiak-Szulc Ariyanto Adhi Nugroho Dedi Susanto Nur Qoyyim Fathoni Yesskil Sufaha Fiqh