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INDONESIA
Jurnal Ekonomi Indonesia
Published by Ikatan Sarjana Ekonomi Indonesia
ISSN : 08541507     EISSN : 2721222X     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Jurnal Ekonomi Indonesia is a journal published by Ikatan Sarjana Ekonomi Indonesia (ISEI) consists of academic articles on various subject areas including monetary and macroprudential regulation, finance and banking system, international economics, development economics, environmental and natural resource economics. All contents and research studies in the articles of this journal are entirely become the responsibility of the authors and do not represent ISEI’s views.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekomomi dan Ekonometrika
Articles 6 Documents
 1 
Search results for , issue "Vol 14 No 1 (2025): April" : 6 Documents clear
Socioeconomic impact of COVID-19 restrictions in Bali: A nighttime light analysis Putro, Dimas Hutomo; Pramana, Setia; Hendrawan, Daffa
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 1 (2025): April
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i1.220

Abstract

This study investigates the socio-economic impacts of COVID-19 pandemic restrictions in Bali using nighttime light remote sensing as a proxy for socio-economic activity. The monthly NTL data from the Suomi-NPP VIIRS instrument, spanning from 2014 to 2021, are analyzed. This study focuses on changes in NTL trends before and after the restrictions, specifically the Large-Scale Social Restriction and Welfare Activity Restriction programs. To ensure that the NTL used in this study accurately measures human activity, we integrate the data with built-up area maps from the Global Human Settlement Layer. An ARIMA intervention model is employed to assess the impact of the restrictions on NTL, revealing a significant decrease in certain regions. Furthermore, we find a moderate correlation between NTL and Bali's quarterly GDP data. This study also highlights the potential of NTL remote sensing as a near-real-time proxy for socioeconomic change, allowing for the early evaluation of policy effectiveness. Keywords: nighttime light, COVID-19, proxy indicator, ARIMA intervention JEL Classification: C22; I18; R11
Graduating at the wrong time: Labor market outcomes of colleges graduates during economic contraction Al Ayyubi, Muhammad Salahudin; Pratomo, Devanto Shasta
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 1 (2025): April
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i1.397

Abstract

The severe economic contraction caused by the COVID-19 pandemic has led to high unemployment rates among college graduates. Fresh graduates entering the labor market are often highly sensitive to prevailing economic conditions. The impact of graduating at an unfavorable time can also vary significantly among workers, depending on their field of study. This study has two main objectives. First, it examines the effect of graduation timing, proxied by the unemployment rate, on labor absorption in Indonesia and how long these effects persist. Second, it analyzes the differences in job market sensitivity across disciplines among college graduates in Indonesia, particularly during economic contractions. The data used in this study come from the 2021 Indonesian National Labor Force Survey (Sakernas). The findings indicate that those who graduate during unfavorable economic conditions tend to experience significant income declines for over 10 years. Moreover, they face lower chances of obtaining decent jobs and are more likely to be overeducated for their roles. Additionally, college graduates from STEM (Science, Technology, Engineering, and Mathematics) fields experience less income compared to those from social sciences and humanities disciplines. The findings of this study are expected to provide valuable insights for policymakers in promoting income stability, aligning education with labor market demands, ensuring equal access, and fostering cross-disciplinary inclusivity. These efforts could contribute to developing a resilient and adaptive workforce capable of overcoming economic challenges and supporting sustainable economic growth. Keywords: labor market; unemployment rate; STEM; income JEL Classification: J24; J21; E32
Green infrastructure development challenges: The case of Yogyakarta International Airport Utami, Westi; Sugiyanto, Catur
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 1 (2025): April
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i1.434

Abstract

Infrastructure development, such as airports, often impacts the surrounding economic growth. On the one hand, the airport's economic growth is a desirable logical consequence. However, economic growth often occurs due to increased mining, industrial, plantation, trading, service, and other economic activities, causing changes in land use that do not follow the Spatial Planning and Regional Plans. Therefore, it may have implications for environmental damage. This paper proves a change in land use around Yogyakarta International Airport. Changes are observed through differences in land use in 2015, before the airport plan was built, and 2021, after the airport was operational. The random forest algorithm method is used to classify land use data sets. Furthermore, using the Multilayer Perceptron Neural Network Marcov Chain/ MLP NN-MC algorithm, it is predicted that the conversion of rice fields and plantations around the front side of the airport for housing and business will become even greater in 2030. Thus, the airport's construction has increased land use for business and residential purposes, while the green surface has been dramatically reduced. It was identified that there was a misuse of land use. Without good management, changes in land use can have an impact on decreasing environmental quality. Keywords: green infrastructure, land use change, land use prediction JEL Classification: Q57; R14; O44
Estimating the shadow economy at the provincial level in Indonesia: A MIMIC model approach Lukman, Raif Maulana; Kartiasih, Fitri
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 1 (2025): April
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i1.561

Abstract

The shadow economy encompasses economic activities that are not recorded in the Gross Domestic Product (GDP), resulting in reporting bias and diminished state revenue. This study estimates the size of the shadow economy across 34 Indonesian provinces from 2015 to 2021 using the Multiple Indicators and Multiple Causes (MIMIC) method. The results indicate that the estimated average shadow economy ranges from 4.73% to 42.64% of the provincial GRDP. Key influencing factors include tax burden, government regulations, regional autonomy, self-employed labor, and economic openness. These findings support policies aimed at reducing the shadow economy through tax efficiency, improved regulations, and enhanced welfare for micro, small, and medium enterprises (MSMEs) backed by local governments. Keywords: shadow economy; MIMIC model; regulation; tax burden JEL Classification: E61; E62
A global panel analysis comparing carbon emissions across levels of economic development Tiono, William; Mulia, Ni Pryanka; Kadarusman, Yohanes Berenika; Ramadhanti, Fati
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 1 (2025): April
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i1.562

Abstract

This study compares carbon emissions across panels of high-income countries (HICs) and low- and middle-income countries (LMICs). Using the Environmental Kuznets Curve (EKC) hypothesis as a theoretical framework, this study observes the curve for each income panel using random effects panel regression, controlling for the scale, composition, technological, and pollution outsourcing effects. With a dataset ranging 30 years from 1990 to 2019 and a panel of 18 HICs and 20 LMICs, the regression results validate the presence of an EKC-like relationship between emissions and income per capita for both panels. Key findings show that LMICs are on a path of growth that emits fewer emissions than HICs at the same income level due to access to less emission-intensive technologies. This suggests that, in contrast to previous theoretical understanding, the effects observed in the EKC occur simultaneously rather than sequentially and may be leveraged to dominate at any point on the curve. In practice, LMICs are urged to dismiss the “grow now, clean later” ethos and instead, adopt cleaner production methods through energy efficiency initiatives, technological transfers, and technological leapfrogging to manage economic growth without a corresponding growth in emissions. Keywords: environmental Kuznets curve; panel data; robust random effects; carbon emission JEL Classification: Q56; O44
Investigating inflation dynamics in Indonesia: Identifying the inflation spillover for enhancing regional inflation control Purwa, Taly; Dariwardani, Ni Made Inna; Cendekia, Diyang Gita
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 1 (2025): April
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i1.569

Abstract

This study employs a hybrid New Keynesian Phillips curve (NKPC) model, comprising the dynamic panel, spatial dynamic panel, and semiparametric spatial dynamic panel models, to examine the dynamics of regional inflation in Indonesia from Q1 1997 to Q2 2023. The latter model, which employed the inverse distance weight (IDW), was identified as the most optimal model. The findings indicated that the lagged inflation and output gap variables transmitted a notable impact on regional inflation of Indonesia. Furthermore, the significance of the spatial spillover parameters indicates the existence of spatial regional inflation spillover in Indonesia. Jakarta, Central Java, and East Java represent the three most significant focal points of inflation dynamics in Indonesia, exerting the greatest influence on other regions. While, South Kalimantan, Jakarta, and East Java were the top three regions experiencing the greatest impact from inflationary pressures originating elsewhere. Through sensitivity analysis, it was found that a flattened Phillips curve was present throughout the period under study. It is therefore recommended that policies be intensified with a view to controlling prices, strengthening policy synergies, and improving the efficiency of goods distribution channels, both for the focal point and for regions experiencing inflationary pressures as a result of spillovers. Keywords: direct and indirect effect; inflation; non-linear model; semiparametric model; spatial spillover JEL Classification: C31; E31; F36

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