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Tue
07
Feb 2012
| PENGARUH PERUBAHAN SISTEM NILAI TUKAR DARI MANAGED FLOATING KE FREE FLOATING TERHADAP PASS-THROUGH EFFECT dan VOLATILITY, Serta IMPLIKASINYA TERHADAP EFEKTIFITAS KEBIJAKAN MONETER DI INDONESIA |
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| Written by Administrator | ||
| Monday, 04 January 2010 02:26 | ||
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This research aims to know the impact of exchange rates regime changes from Managed Floating to Free Floating Exchange Rates, toward pass-through effect and volatility. The research also investigates the differences of volatilities at different exchange rate system, the impact of volatilities to macro variables, and also monetary policy effectivity. The result of data analysis indicates that degree of pass-through in Indonesia tends to incomplete. It means that the changes of exchange rates is not responsed by one-for-one of price changes, which is indicated the happening of ?pricing to market?. The degree of pass-through is bigger in free floating period compared to managed floating period, and this is confirmed by the degree of openness economics of Indonesia which is greater to global economics, so that the price change becomes more sensitive to exchange rates change . Furthermore, the impact of volatilities to macro variable is bigger at free floating period compared to managed period. Volatility of exchange rates has higher level coefficient at managed floating period, while monetary policy influences economic condition at free floating period more effectively. |
Jurnal ISEI
Kurs IDR
sumber: KlikBCA.com
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Statistik
