Analisa ECM Terhadap Purcbasing Power Parity Pada Kurs Rupiah Terhadap Lima Mata Uang Asing Periode 1990 - 2000  

Oleh:

Llewelyn, Richard V. ; Djafar, Jap Merry Suryani ; Harijanto, Luciana

Jenis: Article from Bulletin/Magazine
Dalam koleksi: Jurnal Riset Ekonomi dan Manajemen vol. 3 no. 1 (Jan. 2003), page 51-64.
Topik: MATA UANG; purchasing power parity; error correction model; dollar; yen; poundsterling; franc; rupiah
Fulltext: Analisa ECM Terhadap Purchasing Power Parity.pdf (4.32MB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ111 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study tests the validity of purchasing power parity (PPP) theory in the long - run and short - run for the indonesian rupiah versus the U. S. dollar, the australian dollar, the japanese yen, the british pound, and the french gfranc, using an error correctionmodel (ECM) for the 1990 - 2000 period. From the results of this study, the PPP theory does not apply in either the long - run or the short - run for the indonesian rupiah versus those currencies. Implications of this result are that the governmentof indonesia should continue to use a floating rate system for the rupiah so that it can achieve equilibrium relative to various hard currencies. The government of indonesia should also not use PPP rates in setting assumptions for the government budgets regarding the exchange rate. In addition, market players should not use the PPP rates in deterimining expectations of exchange rates for foreign exchange trade.

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