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Spillover Effect dari Quantitative Easing Amerika Serikat: Transmisi Makroekonomi, Pasar Saham Konvensional dan Syariah
This study aims to see how US quantitative easing affects macroeconomic indicators and the Indonesian stock market. In examining the spillover effect, this study uses the Vector Error Correction Model (VECM) method with monthly time-series data from January 2006 - December 2020. Regarding the stock market, this study compares the conventional stock market with the Islamic stock market to see how the impact and transmission differ from QE to the two types of stock indices. Overall, this study finds that quantitative easing has a significant impact on macroeconomic and financial indicators in Indonesia such as exchange rates, yields, capital flows, exports, imports, and stock indices. There is no significant effect on inflation and output indicators. Furthermore, quantitative easing only has a significant effect on conventional stock indices, but QE can indirectly affect Islamic stock indices. Based on the results of the Granger Causality test, it was found that the effect of quantitative easing can be transmitted to the Indonesian economy through several channels such as exchange rates, capital flows, yields, and imports. This channel can then influence other indicators such as inflation and may play an important role in the transmission of international monetary policy to Indonesia's domestic economy..Ada Tabel
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| 13138 | PSB lt.2 - Karya Akhir | 1 |
| Penerbit | Depok Program Studi Ilmu Ekonomi Islam Fakultas Ekonomi dan Bisnis UI., 2021 |
|---|---|
| Edisi | - |
| Subjek | Monetary policy Quantitative easing Spillover effect |
| ISBN/ISSN | - |
| Klasifikasi | - |
| Deskripsi Fisik | xiii, 103 p. ; diagr. ; 30 cm |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |