The Impact of Oil Shock on Domestic Economy: The Case of Indonesia Repository

The Impact of Oil Shock on Domestic Economy: The Case of Indonesia

Rossanto Dwi Handoyo, - and FADHLILLAH AJI WIBOWO, 041011125 and Miguel Angel Esquivias Padilla, - and Abdul Rahim Ridzuan, - and Mohamad Idham Md Razak, - (2020) The Impact of Oil Shock on Domestic Economy: The Case of Indonesia. International Journal of Academic Research in Accounting, Finance and Management Sciences, 10 (1). pp. 334-344. ISSN E-ISSN: 2225-8329, P-ISSN: 2308-0337

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Official URL: https://hrmars.com/index.php/IJARAFMS/article/view...

Abstract

This study analyzes the impact of the world oil prices shock on Indonesia's domestic economy using a Structural Vector Autoregression (SVAR) model. The variables used are divided into two groups. The first group describes the world oil market, including world oil production, world economic activity, and world oil prices. The second group describes the domestic economy comprising variables of GDP, CPI, discount rate and rupiah exchange rate. The use of this model can remove impulse response anomalies or puzzle such as price puzzles and exchange rate puzzles that are commonly found in studies that use VARs model in small open economy countries. Estimation results show that the shock of world oil prices significantly affects the domestic economy. The impulse response results show that the shock caused by world oil prices responded differently at the beginning of the period but returned to the balance line in the long run.

Item Type:

Article

Uncontrolled Keywords:

Shock, Impulse Response, Puzzle, Domestic Economy, SVA

Subjects:

H Social Sciences
H Social Sciences > HB Economic Theory

Divisions:

04. Fakultas Ekonomi dan Bisnis > Doktoral Ilmu Ekonomi
04. Fakultas Ekonomi dan Bisnis > Magister Ilmu Ekonomi

Creators:

Creators	NIM
Rossanto Dwi Handoyo, -	NIDN0024087602
FADHLILLAH AJI WIBOWO, 041011125	UNSPECIFIED
Miguel Angel Esquivias Padilla, -	UNSPECIFIED
Abdul Rahim Ridzuan, -	UNSPECIFIED
Mohamad Idham Md Razak, -	UNSPECIFIED

Depositing User:

Tn Sugeng Riyanto

Date Deposited:

24 Aug 2022 02:22

Last Modified:

19 Oct 2022 03:22

URI:

http://repository.unair.ac.id/id/eprint/117656

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