M. Natsir, - (2008) Studi Efektivitas Mekanisme Transmisi Kebijakan Moneter Di Indonesia Melalui Jalur Suku Bunga Dan Jalur Nilai Tukar Serta Jalur Ekspektasi Inflasi Periode 1990:2·2007:1. Disertasi thesis, UNIVERSITAS AIRLANGGA.

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Abstract

This study analyzed and proved the effectiveness of monetary policy transmission mechanism in Indonesia through interest rate channel, exchange rate channel and inflation expectation channel on period 1990:2-2007: 1. This study use time series secondary data that was originated from SEKI and BPS and IFS from many publications. Analysis technique that used was properties of Vector Auto Regression (V AR) model: Impulse Response Function and variance decomposition/forecast error variance. The study result indicated that transmission mechanism of monetary policy through interest rate channel, exchange rate channel and inflation expectation channel have work effectively with many difference on rate and force. The monetary policy transmission mechanism through interest rate channel was more effective than rate of exchange rate channel and inflation expectation channel. This study result is useful for Government and Bank of Indonesia to formulate and implementations the monetary policy effectively. This study result also can be used as reference for the researchers that want to hold further research.

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