ASYMMETRIC IMPACTS OF MONETARY POLICY SHOCK ON OUTPUT GAP: EVIDENCE FROM REGIONS IN INDONESIA

Autor:	Defy Oktaviani, Sugeng Triwibowo
Rok vydání:	2022
Předmět:	Finance
Zdroj:	Buletin Ekonomi Moneter dan Perbankan. 25:371-398
ISSN:	2460-9196 1410-8046
DOI:	10.21098/bemp.v25i3.1648
Popis:	We examine the impact of the monetary policy on regional output gaps across 33 Indonesian provinces. Heterogeneous regional responses of the output gap to monetary policy shock are captured using the Vector Autoregressive model. Moreover, the idiosyncratic variations across provinces accounted for different responses are observed with the spatial econometric model. The spatial analysis suggests that economic structure and financial depth positively and significantly determine the aforesaid asymmetric responses. On the other hand, economic size and trade openness have a negative impact on them.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::4ec738b819c514a34e5c02cc0f9810a9 https://doi.org/10.21098/bemp.v25i3.1648 Zobrazit plný text záznamu