Analisis penerapan inflation targeting framework (ITF) di Indonesia : menuju periode "fear of inflation"

Deskripsi

This paper empirically investigates the implementation of Inflation Targeting Framework (ITF) in Indonesia which begun in year 2000 whether it was applied to achieve price-stability or to influence the stability of exchange rate. The paper uses regression analysis to investigate the behaviour of real interest rate to respond changes in inflation and exchange-rate changes across regimes from 1990:1 to 2007:12. The methodology applied at some extent also could investigate the credibility of ITF implementation in Indonesia. However, this paper founds that the implementation of Inflation Targeting Framework in Indonesia is credible, and not being used as the mask of exchange-rate targeting, or referred to Ball and Reyes (2006) as modern ?fear of floaters?.Ada tabel