Analisis Pengaruh Suku Bunga BI-Rate, Jumlah Uang Beredar M2, Dan Kurs Dollar As Terhadap Tingkat Inflasi Di Indonesia.

Khairul Akbar, Lya Novarian Nainggolan, Ahmad Albar Tanjung, Wahyu Ario Pratama, Ade Firmansyah Tanjung

Abstract


Inflation developments are a concernmain foreconomy in Indonesia. BI (Bank Indonesia) has a purposeuthe goals to maintain the stability of  rupiah value which reflected in the inflation development.Unstable inflation  is general and continuously increase in of  price level of services and goods. It has an impact on weakening the purchasing power of the masses and then causes a decline in the national income of a country on a large scale. Therefore the rate of inflation is expected to be controlled. This study has a purpose to discuss the level of influence of BI- interest rate, money circulation, and the US Dollar Exchange Rate as an independent variable on Indonesian Inflation for the period 2005-2023 as the dependent variable used ECM-ADF(ADF error correction model). This study is retricted to analyze the secondary data with time series data between 2005-2023. The results showed that the variables Bir (Bi-rate), Jub (money supply), and Kurs (US Dollar Exchange Rate) have a significant effect on inflation in the short term. This means that an increase in interest rates, the amount of money in circulation and the exchange rate will increase inflation in Indonesia. While in the long run the variables Beer and Exchange Rate have a significant effect on inflation and only the variable Jub (money supply) has no significant effect on inflation. This means that an increase in money supply will reduce inflation in Indonesia.

Keywords


Inflation; Interest Rates; US Money Supply; and Kurs AS

Full Text:

PDF

References


Amaefula, C. G. (2016). Long-Run Relationship between Interest Rate and Inflation: Evidence from Nigeria. IOSR Journal of Economics and Finance, 7(3), 24–28. https://doi.org/10.9790/5933-0703012428

Asgharpur, H., Kohnehshahri, L. A., Karami Bangor, A., & School, B. (2007). The Relationship Between Interest Rates and Inflation Changes: An Analysis of Long-Term Interest Rate Dynamics in Developing Countries. UUM Repository, 1–8.

BPS. (2021). Buletin Statistik Perdagangan Luar Negri Menurut Kelompok Komoditi Dan Negara.

El-Seoud, M. S. A. (2014). The Effect of Interest Rate, Inflation Rate and GDP on National Savings Rate. Global Journal of Commerce and Management Perspective, 3(3), 1–7. https://www.researchgate.net/publication/314263256

Haryadi, I., & Ilhami, W. (2019). Analysis of The Effect of Amount of Money Supply (JUB), Exchange Rate, Profit Sharing And Interest Rate on The Inflation 2011-2017: Islamic and Conventional M1 Comparative Study. Islamic Economics Journal, 5(1), 73. https://doi.org/10.21111/iej.v5i1.3668

Manuela Langi Theodores ,Masinambow Vecky, S. H. (2014). Analisis Pengaruh Suku Bunga Jml Uang Beredar Kurs Thdp Inflasi Indonesia. 14(2).

Nurwulandari, A. (2019). Inflation, the Rupiah Exchange Rate and Their Impact on the Islamic Social Reporting of Consumer Goods Industry Companies Listed in the Indonesian Sharia Stock Index (Issi) From 2014-2018. International Journal of Islamic Khazanah, 9(2), 85–92. https://doi.org/10.15575/ijik.v9i2.12738

Perdagangan, P. D. dan S. I. kemeterian. (2021). MTF MONTHLY TRADE FIGURE. In Kemendag (Ed.), Angewandte Chemie International Edition, 6(11), 951–952. (Kemendag). Pusat Data dan Teknologi Informasi Energi dan Sumber Daya Mineral Kementerian Energi dan Sumber Daya Mineral Jalan Medan Merdeka Selatan Nomor 18 Jakarta Pusat 10110.

Silaban, P. S., Harefa, D. N., Napitupulu, J. I. M., & Sembiring, J. P. B. (2021). The Impact of BI Interest Rate and Amount of Money Supply on Inflation in Indonesia During 2017-2019. Media Ekonomi Dan Manajemen, 36(1), 62–75. https://doi.org/10.24856/mem.v36i1.1636

Umam, M., & Isabela, I. (2018). Analisis Pengaruh Suku Bunga dan Nilai Kurs Terhadap Tingkat Inflasi di Indonesia. KABILAH : Journal of Social Community, 3(2), 202–209. https://doi.org/10.35127/kbl.v3i2.3409

Yodiatmaja, B. (2012). Hubungan Antara BI Rate dan Inflasi Periode Juli 2005 - Desember 2011 : Uji Kausalitas Toda - Yamamoto. Economics Development Analysis Journal, 1(1), 1–7.




DOI: https://doi.org/10.30743/jekkp.v5i1.7507

Refbacks

  • There are currently no refbacks.


Copyright (c) 2023 JEKKP (Jurnal Ekonomi, Keuangan dan Kebijakan Publik)



JEKKP (Jurnal Ekonomi Keuangan dan Kebijakan Publik (jekkp)
Fakultas Ekonomi Universitas Islam Sumatera Utara
Jl. Sisingamangaraja, Teladan-Medan Indonesia 20217 
Telp. (061) 7869880 | fax. (061) 7869880
Email: admin.jekkp@fe.uisu.ac.id