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INDONESIA
Economic and Finance in Indonesia
Published by Universitas Indonesia
ISSN : 0126155X     EISSN : 24429260     DOI : -
Core Subject : Economy, Education,
Economics, Econometrics & Finance Education
Aims & Scope EFI mainly covers original idea related to the Economics and Finance in Indonesia. Published articles can be either theoretical, empirical, or in between of those two polar variants. The journal covers specific areas, including but not limited to: Agricultural Economics Capital Market Demography Development Economics Economy in Crisis Economy of Rural Areas Education Economics Energy Economics Environmental and Natural Resources Economics Financial Sector Health Economics History of Economic Thoughts Industrial Economics Institutional Aspect of Economy International Economics Investment Labor Economics Maritime Economics Methodology of Economics Monetary Economics Political Economics Poverty Economics Public Policy Public Sector Economics Regional Economics Urban Economics
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekomomi dan Ekonometrika
Articles 5 Documents
 1 
Search results for , issue "Vol. 62, No. 2" : 5 Documents clear
The Existence of Long-Run PPP: A Comparison between Developed and Developing Countries Iskandar, Sulistiadi
Economics and Finance in Indonesia Vol. 62, No. 2
Publisher : UI Scholars Hub

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Abstract

McNown & Wallace (1989) argued that PPP will tend to holds in less developed countries due to the domination of nominal factors in the economy. In this study we try to investigate the existence of long-run PPP in eight countries consisting four developed and developing countries. Here we show that there is a strong evidence that long-run PPP holds for Germany, United Kingdom, and Chile. Furthermore, the additional tests also show that symmetry and proportionality conditions seem to hold in the three economies. As for other five economies, long-run PPP seems to be absence. Although one step general Error Correction Model and Johansen-Juselius cointegration procedure generates conflicting result, the result of both technique do not show a tendency for PPP to hold in developing countries thus rejecting argument proposed by McNown and Wallace.
Lowering Regional Inflation? Improve Budget Absorption Adrison, Vid
Economics and Finance in Indonesia Vol. 62, No. 2
Publisher : UI Scholars Hub

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Abstract

The subnational government spending in Indonesia exhibit a highly skewed distribution, i.e., it is very low in the first two-quarters and then increases significantly in the last two-quarters. Such explosive pattern poses two disadvantages. First, the regional output will fall below its optimal level as the low government capital expenditure leads to a fewer provision of public goods. Second, a significant increase in government spending in the later quarter pushes the short run aggregate demand to the northeast and creates an inflationary pressure in the following quarters. In this study, we analyze the effect of quarterly regional government expenditure growth on regional inflation during 2010-2014. Using Arellano Bond GMM estimation, we find government expenditure growth leads to higher inflation in the same quarter. A percentage increase in non-capital expenditure spending results in a higher inflation than a percentage increase in capital spending.
Indebtedness and Subjective Financial Wellbeing of Households in Indonesia Handayani, Dwini
Economics and Finance in Indonesia Vol. 62, No. 2
Publisher : UI Scholars Hub

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Abstract

Indebtedness is an element to foresee household financial wellbeing. This vulnerability could be determined objectively and subjectively. Objective financial vulnerability is the objective ability to make ends meet that is analyzed using household income and characteristics. Measurement in subjective welbeing is determined by household perceptions in their ability to make ends meet. Household behavior with different perceptions will behave differently. Indebtedness is analyzed using the Indonesian Family Life Survey (IFLS) 5 with the Ordinary Least Square method. The inferential shows that both objective and subjective financial wellbeing influence household indebtedness. Kedalaman hutang merupakan elemen untuk mengetahui kesejahteraan finansial rumah tangga. Kerentanan ini dapat dilihat secara objektif maupun subjektif.
Portfolio Flows into Indonesia: Push or Pull? Nuryakin, Chaikal
Economics and Finance in Indonesia Vol. 62, No. 2
Publisher : UI Scholars Hub

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Abstract

This paper focuses on the dynamic of the portfolio flows into Indonesia. The result of Structural Vector Autoregression (SVAR) model reveals that push factors is more dominant than pull factors in explaining portfolio flows into Indonesia. Portfolio flows into Indonesia are positively correlated with regionals stock market performance and negatively correlated to the federal funds rate. On the pull factors, domestic risk (the Credit Default Swap spread) is more dominant than domestic return (the BI rate) in explaining the flows. Thus, it is important for authorities to have more focus on domestic risk relative to rate of return in managing portfolio flows. In addition, the negative impact of the lagged Indonesia stock market index to the capital flows indicates a counter cyclical investment behavior of global investors.
Is Inflation Target Announced by Bank Indonesia the Most Accurate Inflation Forecast? Rachman, Faisal
Economics and Finance in Indonesia Vol. 62, No. 2
Publisher : UI Scholars Hub

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Abstract

This article investigates whether following Bank Indonesia's explicit inflation targets (forward-looking) is a more accurate method of predicting inflation rate in Indonesia than forecast methods utilizing past information of macroeconomic data (backward-looking). The analysis is conducted by performing naive, univariate, and multivariate time-series models with an out-of-sample forecast evaluation period of January 201-December 2016. It is found that the backward-looking approach outperforms the forward-looking approach at all forecast horizons, indicating that Bank Indonesia still does not succeed to anchor inflation expectation towards the desired level.

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