Saida Hasibuan
Universitas Sumatera Utara

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MEKANISME TRANSMISI KEBIJAKAN MONETER MELALUI SUKU BUNGA SBI SEBAGAI SASARAN OPERASIONAL KEBIJAKAN MONETER DAN VARIABEL MAKROEKONOMI INDONESIA Hasibuan, Saida; Pratomo, Wahyu Ario
Ekonomi dan Keuangan Vol 1, No 12 (2013)
Publisher : Departemen Ekonomi Pembangunan USU

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Abstract

The problems of this study was to analyze the effect of the Money Supply,Exchange Rate and Consumer Price Index to GDP. Analyze the effect of SBI, Import Price Index and the Consumer Price Index GDP. Data analysis using Vector Autoregression (VAR), impluse Response Function (IRF) and Two - Stage Least Squares (TSLS). The data used in this study is secondary data in the form of time series began in 2000: 1 – 2012:12. The result of the analysis  concluded that the monetary policy transmission mechanism through SBI Indonesia can be seen from the structural equation GDP and CPI. Where SBI has a negative impact on the Consumer Price Index. These results suggest thatthe monetary policy variables SBI, Foreign Exchange and Money Supplyinteract with macroeconomic variables, namely GDP, Import Price Index and the Consumer Price Index. With the support of the estimation equations gross domestic product of 88.9 percent, while the estimation equation Consumer Price Index was 52.3 percent. Keywords: Monetary Policy Transmission Mechanism Through SBI Indonesia with Macroeconomic Variables.