Divisia money and income in Indonesia: some results from error-correction models, 1981:1-1994:4
The purpose of the present study is to provide alternatives to the monetary aggregates currently defined and published by Bank of Indonesia. The alternative monetary aggregate proposed is the Divisia aggregate which is an appropriate measurement for the monetary services of a country. In this paper...
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| Format: | Article |
| Language: | English |
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Routledge
1998
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| Online Access: | http://psasir.upm.edu.my/id/eprint/51787/ http://psasir.upm.edu.my/id/eprint/51787/1/51787.pdf |
| _version_ | 1848851926576267264 |
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| author | Habibullah, Muzafar Shah |
| author_facet | Habibullah, Muzafar Shah |
| author_sort | Habibullah, Muzafar Shah |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | The purpose of the present study is to provide alternatives to the monetary aggregates currently defined and published by Bank of Indonesia. The alternative monetary aggregate proposed is the Divisia aggregate which is an appropriate measurement for the monetary services of a country. In this paper we investigate the long-run relationship between income and Divisia aggregate together with its counterpart-the conventional simple-sum aggregate for the period 1981:1 to 1994:4. Using the cointegration and error-correction framework, our results indicate that there is potential role for the Divisia monetary aggregate as a useful intermediate indicator in the conduct of monetary policy in Indonesia. |
| first_indexed | 2025-11-15T10:29:57Z |
| format | Article |
| id | upm-51787 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T10:29:57Z |
| publishDate | 1998 |
| publisher | Routledge |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-517872024-10-15T04:18:13Z http://psasir.upm.edu.my/id/eprint/51787/ Divisia money and income in Indonesia: some results from error-correction models, 1981:1-1994:4 Habibullah, Muzafar Shah The purpose of the present study is to provide alternatives to the monetary aggregates currently defined and published by Bank of Indonesia. The alternative monetary aggregate proposed is the Divisia aggregate which is an appropriate measurement for the monetary services of a country. In this paper we investigate the long-run relationship between income and Divisia aggregate together with its counterpart-the conventional simple-sum aggregate for the period 1981:1 to 1994:4. Using the cointegration and error-correction framework, our results indicate that there is potential role for the Divisia monetary aggregate as a useful intermediate indicator in the conduct of monetary policy in Indonesia. Routledge 1998 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/51787/1/51787.pdf Habibullah, Muzafar Shah (1998) Divisia money and income in Indonesia: some results from error-correction models, 1981:1-1994:4. Applied Economics Letters, 5 (6). pp. 387-391. ISSN 1350-4851; eISSN: 1466-4291 http://www.tandfonline.com/doi/abs/10.1080/135048598354771 10.1080/135048598354771 |
| spellingShingle | Habibullah, Muzafar Shah Divisia money and income in Indonesia: some results from error-correction models, 1981:1-1994:4 |
| title | Divisia money and income in Indonesia: some results from error-correction models, 1981:1-1994:4 |
| title_full | Divisia money and income in Indonesia: some results from error-correction models, 1981:1-1994:4 |
| title_fullStr | Divisia money and income in Indonesia: some results from error-correction models, 1981:1-1994:4 |
| title_full_unstemmed | Divisia money and income in Indonesia: some results from error-correction models, 1981:1-1994:4 |
| title_short | Divisia money and income in Indonesia: some results from error-correction models, 1981:1-1994:4 |
| title_sort | divisia money and income in indonesia: some results from error-correction models, 1981:1-1994:4 |
| url | http://psasir.upm.edu.my/id/eprint/51787/ http://psasir.upm.edu.my/id/eprint/51787/ http://psasir.upm.edu.my/id/eprint/51787/ http://psasir.upm.edu.my/id/eprint/51787/1/51787.pdf |