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ANALISIS PENGARUH UNCONVENTIONAL MONETARY POLICY TERHADAP INFLASI DAN PERTUMBUHAN EKONOMI DI INDONESIA

Rahmahita, Arista (2025) ANALISIS PENGARUH UNCONVENTIONAL MONETARY POLICY TERHADAP INFLASI DAN PERTUMBUHAN EKONOMI DI INDONESIA. S1 thesis, UNIVERSITAS SULTAN AGANG TIRTAYASA.

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Abstract

This study aims to analyze the effect of quantitative easing policy on inflation and economic growth in Indonesia in the short and long term. The quantitative easing policy in question is measured through several indicators, namely the ownership of Government Securities (SBN) by Bank of Indonesia, total assets of Bank of Indonesia, money supply (M2), and credit. The data used is monthly data from January 2010 to December 2023 and analyzed using the Autoregressive Distributed Lag (ARDL) method. The estimation results show that in the short term, inflation is significantly influenced by SBN ownership by Bank Indonesia, total assets, money supply, and credit. While in the long run, inflation is also influenced by several lag variables of SBN ownership, total assets, money supply. On the other hand, economic growth in the short term is significantly influenced by SBN holdings, total assets, and money supply. In the long run, economic growth is influenced by SBN ownership, total assets, and money supply. By understanding the impact of QE on inflation and economic growth, the results of this study can be used as a consideration for policy makers in designing effective economic recovery strategies, especially during times of crisis or global uncertainty.

Item Type: Thesis (S1)
Contributors:
ContributionContributorsNIP/NIM
Thesis advisorAnwar, Cep Jandi198003182010121004
Thesis advisorSuci, Stannia Cahaya199104202019032020
Additional Information: Tujuan dari penelitian ini adalah untuk melihat bagaimana kebijakan quantitative easing berdampak pada inflasi dan pertumbuhan ekonomi Indonesia baik dalam jangka pendek maupun jangka panjang. Kebijakan quantitative easing yang dimaksud diukur melalui beberapa indikator, yaitu kepemilikan Surat Berharga Negara (SBN) oleh Bank Indonesia, total aset Bank Indonesia, jumlah uang beredar (M2), dan Kredit. Data yang digunakan merupakan data bulanan periode Januari 2010 hingga Desember 2023 dan dianalisis menggunakan metode Autoregressive Distributed Lag (ARDL). Hasil estimasi menunjukkan bahwa dalam jangka pendek, inflasi dipengaruhi secara signifikan oleh kepemilikan SBN oleh Bank Indonesia, total aset, jumlah uang beredar, dan kredit. Sementara dalam jangka panjang, inflasi juga dipengaruhi oleh beberapa lag variabel kepemilikan SBN, total aset, jumlah uang beredar. Di sisi lain, pertumbuhan ekonomi dalam jangka pendek dipengaruhi secara signifikan oleh kepemilikan SBN, total aset, dan jumlah uang beredar. Dalam jangka panjang, pertumbuhan ekonomi dipengaruhi oleh kepemilikan SBN, total aset, dan jumlah uang beredar. Hasil penelitian ini dapat digunakan oleh pembuat kebijakan untuk membuat strategi pemulihan ekonomi yang efektif, khususnya dalam situasi krisis atau ketidakpastian global, dengan memahami bagaimana QE mempengaruhi inflasi dan pertumbuhan ekonomi.
Uncontrolled Keywords: quantitative easing, unconventional monetary policy, government bond quantitative easing, unconventional monetary policy, obligasi pemerintah
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
Divisions: 05-Fakultas Ekonomi dan Bisnis
05-Fakultas Ekonomi dan Bisnis > 60201-Program Sarjana Ilmu Ekonomi Pembangunan
Depositing User: Arista Rahmahita
Date Deposited: 28 Aug 2025 06:40
Last Modified: 28 Aug 2025 06:40
URI: http://eprints.untirta.ac.id/id/eprint/53000

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