PENGARUH DINAMIKA PENAWARAN DAN PERMINTAAN VALAS

  • Sugeng Sugeng
  • M. Noor Nugroho
  • Ibrahim Ibrahim
  • Yanfitri Yanfitri

Abstract

This study examines the influence of forex demand and supply interaction on Rupiah's exchange rate. Estimation results show that the movement of rupiah is influenced by the forex supply and demand, where the foreign players are dominating. Furthermore, the demand and supply of foreign exchange is asymmetric.

This paper also shows the impact of exchange rate movements on output is only in the short term with a more significant influence to the import, while the depreciation of Rupiah has a larger impact than its appreciation.

Keywords:Foreign exchange, inflation, exchange rate.

JEL Classification: E31, F31

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References

Evans, Martin D.D., dan Richard K. Lyons. 2005. "Understanding Order Flow". Working Paper #11748, NBER, Massachusetts.

Husman, Jardine A. 2005. "Estimasi Nilai Tukar Paska Krisis: Pendekatan Model Komposit". Bank Indonesia Working Paper 07/2005. Jakarta.

Kurniati, Yati, Tri Yanuarti dan Yanfitri. 2008. "Dampak Nilai Tukar terhadap Harga Impor dan Inflasi Inti". Bank Indonesia, Catatan Riset 10/6/DKM/BRE/CR.

Kurniati, Yati, 2007 "Exchange Rate Pass-Through In Indonesia"

Lyons, Richard K. 2001. "The Microstructure Approach to Exchange Rates". MIT Press, Cambridge, Massachusetts.

Rime, Dagfinn, Lucio Sarno, dan Elvira Sojli. 2007. "Exchange Rate Forecasting, Order Flow, and Macroeconomic Information". Oslo ANO 2007/2
Published
2010-11-19
Section
Articles

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