MEKANISME TRANSMISI KEBIJAKAN MONETER MELALUI JALUR HARGA ASET DI INDONESIA PERIODE 2002-2011
This study is aimed to identify the transmission mechanism of monetary policy through the issuance of asset prices at two different policy between the government and the monetary authorities, in which the monetary authority implements monetary policy by reducing the contractions of the Loan to Value...
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[Yogyakarta] : Universitas Gadjah Mada
2013
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id-ugm-repo.1205842016-03-04T08:41:58Z https://repository.ugm.ac.id/120584/ MEKANISME TRANSMISI KEBIJAKAN MONETER MELALUI JALUR HARGA ASET DI INDONESIA PERIODE 2002-2011 , Puspitasari Wahyu Anngraeni , Prof. Dr. Insukindro, M.A. ETD This study is aimed to identify the transmission mechanism of monetary policy through the issuance of asset prices at two different policy between the government and the monetary authorities, in which the monetary authority implements monetary policy by reducing the contractions of the Loan to Value ratio, while the government implements an expansionary policy through Liquidity Facility Program for Housing Finance The analytical tool used in this study is the Vector Autoregression First Difference (DVAR) or vector autoregression at first difference. The variables used in this study are a long-term mortgage interest rates, housing price index, stock price index, hot money, the money supply and GDP with the observation period starting in 2002:1 - 2011:12. The DVAR formation process is executed through a series of tests to study data. The tests include stationarity test, determination of optimum lags, cointegration test, the estimated DVAR and impulse response function and variance decomposition. DVAR estimation results may indicate a direction of causality between variables of the study. Based on the estimation DVAR is known that asset prices affect the money supply and the money supply affect output. These results suggest that asset prices do not directly affect output. Contraction monetary policy implemented by the monetary authority is effective enough to anticipate economic heating. [Yogyakarta] : Universitas Gadjah Mada 2013 Thesis NonPeerReviewed , Puspitasari Wahyu Anngraeni and , Prof. Dr. Insukindro, M.A. (2013) MEKANISME TRANSMISI KEBIJAKAN MONETER MELALUI JALUR HARGA ASET DI INDONESIA PERIODE 2002-2011. UNSPECIFIED thesis, UNSPECIFIED. http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=60621 |
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ETD , Puspitasari Wahyu Anngraeni , Prof. Dr. Insukindro, M.A. MEKANISME TRANSMISI KEBIJAKAN MONETER MELALUI JALUR HARGA ASET DI INDONESIA PERIODE 2002-2011 |
description |
This study is aimed to identify the transmission mechanism of monetary
policy through the issuance of asset prices at two different policy between the
government and the monetary authorities, in which the monetary authority
implements monetary policy by reducing the contractions of the Loan to Value
ratio, while the government implements an expansionary policy through Liquidity
Facility Program for Housing Finance
The analytical tool used in this study is the Vector Autoregression First
Difference (DVAR) or vector autoregression at first difference. The variables used
in this study are a long-term mortgage interest rates, housing price index, stock
price index, hot money, the money supply and GDP with the observation period
starting in 2002:1 - 2011:12. The DVAR formation process is executed through a
series of tests to study data. The tests include stationarity test, determination of
optimum lags, cointegration test, the estimated DVAR and impulse response
function and variance decomposition. DVAR estimation results may indicate a
direction of causality between variables of the study. Based on the estimation
DVAR is known that asset prices affect the money supply and the money supply
affect output. These results suggest that asset prices do not directly affect output.
Contraction monetary policy implemented by the monetary authority is effective
enough to anticipate economic heating. |
format |
Theses and Dissertations NonPeerReviewed |
author |
, Puspitasari Wahyu Anngraeni , Prof. Dr. Insukindro, M.A. |
author_facet |
, Puspitasari Wahyu Anngraeni , Prof. Dr. Insukindro, M.A. |
author_sort |
, Puspitasari Wahyu Anngraeni |
title |
MEKANISME TRANSMISI KEBIJAKAN MONETER MELALUI JALUR HARGA ASET DI INDONESIA
PERIODE 2002-2011 |
title_short |
MEKANISME TRANSMISI KEBIJAKAN MONETER MELALUI JALUR HARGA ASET DI INDONESIA
PERIODE 2002-2011 |
title_full |
MEKANISME TRANSMISI KEBIJAKAN MONETER MELALUI JALUR HARGA ASET DI INDONESIA
PERIODE 2002-2011 |
title_fullStr |
MEKANISME TRANSMISI KEBIJAKAN MONETER MELALUI JALUR HARGA ASET DI INDONESIA
PERIODE 2002-2011 |
title_full_unstemmed |
MEKANISME TRANSMISI KEBIJAKAN MONETER MELALUI JALUR HARGA ASET DI INDONESIA
PERIODE 2002-2011 |
title_sort |
mekanisme transmisi kebijakan moneter melalui jalur harga aset di indonesia
periode 2002-2011 |
publisher |
[Yogyakarta] : Universitas Gadjah Mada |
publishDate |
2013 |
url |
https://repository.ugm.ac.id/120584/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=60621 |
_version_ |
1681231354344243200 |