Economic Journal of Emerging Markets
Volume 9 Issue 2, 2017

Measurement of the efficiency of monetary policy

Eka Purwanda (STIE STEMBI Bandung Business School, Bandung)
Siti Herni Rochana (Institut Teknologi Bandung, Bandung)

Article Info

Publish Date
01 Oct 2017

Abstract

Since 2000, monetary policy in Indonesia started to use Inflation Targeting Framework (ITF). To evaluate the performance of the monetary policy, it requires efficiency indicators. The measurement of the efficiency of monetary policy is based on inflation and output variations. This paper formulates a method for measuring the efficiency of monetary policy and applies it in Indonesia. It finds that since the implementation of ITF, the efficiency of monetary policy has not changed significantly. However, the efficiency of monetary policy tends to increase after the full implementation of the ITF framework after 2005 than in the transition period of 2000-2005.

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Journal Info
Economic Journal of Emerging Markets
Website

Abbrev

JEP

Publisher

Universitas Islam Indonesia

Subject

Economics, Econometrics & Finance

Description

The Economic Journal of Emerging Markets (EJEM) is a peer-reviewed journal which provides a forum for scientific works pertaining to emerging market economies. Published every April and October, this journal welcomes original research papers on all aspects of economic development issues. The journal ...