ANALISIS DETERMINASI NILAI TUKAR STUDI DI INDONESIA PERIODE 1993:1-2012:4
| Main Authors: | , DIPTYA HANINDYOJATI, , Prof. Dr. Insukindro, M.A., |
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| Format: | Thesis NonPeerReviewed |
| Terbitan: |
[Yogyakarta] : Universitas Gadjah Mada
, 2013
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| Subjects: | |
| Online Access: |
https://repository.ugm.ac.id/124821/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=64981 |
Daftar Isi:
- In last two decades (1993-2012), Indonesia faced rupiah appreciation and depreciation for many times. There have been many literatures that study in exchange rate determination. This study estimates some factors that affect to exchange rate like differential money supply, differential consumer price index (CPI), differential real gross domestic product (GDP), differential interest rate, and differential stock price index using autoregressive distributed lag error correction model (ARDL-ECM) with shock and forward looking specification. The result of this study shows that differential money supply and differential CPI have a positive (depreciate) impact to exchange rate. On the other hand, differential GDP has a negative (appreciate) impact to exchange rate. Besides, forward looking specification shows that it is better than ARDL-ECM to estimate exchange rate.