Foreign Exchange Expectations in Indonesia: Regime Switching Chartists &  

Oleh:

Syarifuddin, Ferry ; Achsani, Noer Azam ; Hakim, Dedi Budiman ; Bakhtiar, Toni

Jenis: Article from Journal - ilmiah nasional - terakreditasi DIKTI
Dalam koleksi: Bulletin of Monetary Economics and Banking (ex: Buletin Ekonomi Moneter dan Perbankan) vol. 17 no. 2 (Oct. 2014), page 197-220.
Topik: exchange rates; foreign-exchange intervention; switching regression
Fulltext: Foreign Exchange Expectations in Indonesia; Regime Switching and Fundamentalist Approach_Ros.pdf (1.46MB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: BB62 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

In this research, the effect of central bank intervention within a heterogeneous expectation exchange rate model is investigated. The results are supporting both chartists and fundamentalist regimes. In the period investigated, chartist dominates in determining the exchange rate. While BI foreign exchange intervention can effectively push the market exchange-rate to its long-run fundamental equilibrium, however, Bank Indonesia’s effort to exert a stabilizing effect of foreign exchange interventions, the result does not show a success.

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