2 sensitivitas investasi tsb meningkat selama periode

  • No School
  • AA 1
  • 18

This preview shows page 17 - 18 out of 18 pages.

2. Sensitivitas investasi tsb meningkat selama periode kontraksi kebijakan moneter. 3. Pengaruh asimetris antara pelonggaran dan pengetatan kebijakan moneter. Exchange Rate Channel Sebelum tjdnya krisis, transmisi nilai tukar sangat lemah: 1. Bank sentral menjaga nilai tukar dlm kisaran (band) yang ditetapkan sesuai managed floating system. 2. Perbedaan suku bunga dalam dan luar negeri mempengaruhi arus dana dari luar negeri (capital Transmisi Moneter di Indonesia
Image of page 17
18 Setelah krisis, dengan floating exchange rate system, transmisi nilai tukar menjadi kuat: 1. Pengaruh suku bunga pasar uang thd nilai tukar, meskipun tidak kuat karena besarnya faktor premi risiko. 2. Direct and indirect pass-through dari exchange rate thd inflasi relatif tinggi. Tetapi kemudian semakin menurun dengan stabilnya nilai tukar. Expectation Channel Transmisi melalui ekspektasi inflasi semakin penting: 1. Ekspektasi inflasi banyak dipengaruhi oleh nilai tukar, inflasi pd periode yll (inertia), dan suku bunga. Yang paling dominan adalah pengaruh nilai tukar. 2. Efektivitas transmisi dipengaruhi oleh perilaku penentuan harga oleh perusahaan, yang cenderung asimetris dlm merespons nilai tukar dan suku bunga tsb dlm penetuan harga produknya. Transmisi Moneter di Indonesia BANK INDONESIA Pusat Pendidikan dan Studi Kebanksentralan
Image of page 18

You've reached the end of your free preview.

Want to read all 18 pages?

  • Fall '19

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes
A+ icon
Ask Expert Tutors