OPERASI PENGENDALIAN MONETER YANG BERBASIS SUKU BUNGA DALAM MENCAPAI SASARAN INFLASI
Abstract
Beberapa penelitian yang telah dilakukan di Bank Indonesia menyimpulkan bahwa strategi kebijakan moneter berbasis pengendalian uang beredar (quantity targeting) telah semakin sulit diandalkan karena merenggangnya hubungan antara besaran-besaran moneter (uang beredar) dengan variabel-variabel ekonomi riil. Perenggangan hubungan itu dipicu terutama oleh inovasi instrumen-instrumen keuangan dan pergerakan modal antarnegara yang sangat cepat. Kenyataan tersebut mendorong munculnya pemikiran untuk mengembangkan strategi kebijakan moneter berbasis pengendalian suku bunga (interest rate targeting).
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References
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Bank for International Settlements. 1996. “Financial Market Volatility: Measurement, Causes and Consequences”. Conference Papers BIS. Basle.
Bank for International Settlements. 1997. “Implementation and Tactics of Monetary Policy. Basle.
Bank of Canada. 1999. “The Framework for The Implementation of Monetary Policy in the Large Value Transfer System Environment”.
Bank of Canada. 2000. “Proposed Revisions to The Rules Pertaining to Auctions of Receiver General Term Deposits”. Bank of Canada.
Barro, R. J.. 1978. “Unanticipated Money, Output, and Price Level in The United States. The Journal of Political Economy.
Campbell, John Y. 1987. “Money Announcement, The Demand for Bank Reserves, and The Behavior of The Federal Funds Rate within the Statement Week. Journal of Money, Credit and Banking.
Central Bank of Brazil. 1999. “Monetary Policy Operating Procedures in Brazil”.
Chong, M. C.. 1999. “ Monetary Policy Operating Procedures: The Peruvian Case”. BIS. Basle.
Claudio E.V. Borio. 1997. “The Implementation of Monetary Policy in Industrial Countries: A Survey”. BIS. Basle.
Clinton, K. and M. Zelmer. 1997. “Aspects of Canadian Monetary Policy Conduct in the 1990s: Dealing with Uncertainty”. BIS. Basle
Clinton, K..1997. “Implementation of Monetary Policy in a Regime with Zero Reserve Requirement”. Bank of Canada.
Cohen, B. H.. 1997. “Monetary Policy Procedures and Volatility Transmission along The yield Curve. BIS. Basle.
David Klein. 1999. “A Decade of Monetary Reform in Israel (1987-1997): evolving Operating Procedures”.
Deutsche Bundesbank. 1995.”The Monetary Policy of The Bundesbank.
E.J. van der Merwe. 1999. “Monetary Policy Operating Procedures in South Africa”. BIS. Basle.
Feldman, R.A. and Mehra, R. 1993. “Auctions: Theory and Applications”. IMF Staff Papers.
Hardy, D. C.. 1997. “Market Information and Signaling in Central Bank Operations, or, How often Should a Central Bank Intervene?”. IMF Working Paper.
Joel Bogdanski, A. A. Tombini, S. R. Costa Werlang. 2000. “Implementing Inflation Targeting in Brazil”.
José Darío Uribe. 1998. “Monetary Policy Operating Procedures in Colombia”. BIS. Basle.
Josef Van ‘t dack. 1999. “Implementing Monetary Policy in Emerging Market Economies: an overview of issues”. BIS. Basle.
Knesshaw, J. T. and P. Van der Bergh.1989. “Changes in Central Bank Money Market Operating Procedures in The 1980s. BIS. Basle.
Koning, J. 1998. “Changes in Financial Markets and Payment System”. BIS. Basle
Kwon, J. H. 1998. “Upgrading Korean Payment Systems for The Information Age” BIS. Basle.
Marciano, J. A. 1998. “Brazil’s Experience in Modernizing The Payment System to Increase Efficiency and Reduce Risks”. BIS. Basle.
Mishkin, F. S. 1982. “Does Anticipated Monetary Policy Matter? An Econometric Investigation”. The Journal of Political Economy.
P. Bennet, S. Hilton and B. Madigan. 1997. “Implementing US Monetary Policy with Low Reserve Requirements”. BIS. Basle
Reserve Bank of Australia. 1990. “Monetary Policy and Market Operations”. Sydney.
Sungmin Kim and Won-Tai Kim. 1999. “Recent Developments in Monetary Policy Operating Procedures: The Korean Case”. BIS. Basle.
Swank, J. and L. Van Velden. 1997. “Instrument, Procedures and Strategies of Monetary Policy: An Assessment Relationships for 21 OECD”. BIS. Basle.
The Federal Reserve System. 1994.” The Federal Reserve System: Purposes & Functions”.
Trundle, J. 1998. “Enhancing Payment System to Cope with The Liberalization and Globalization of Financial Markets: The UK Experience. BIS. Basle.
Published
2003-10-11
How to Cite
Zulverdi, D., Haryono, E., Pratomo, W., & Nugroho, W. A. (2003). OPERASI PENGENDALIAN MONETER YANG BERBASIS SUKU BUNGA DALAM MENCAPAI SASARAN INFLASI. Buletin Ekonomi Moneter Dan Perbankan, 3(3), 1-80. https://doi.org/10.21098/bemp.v3i3.299
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Buletin Ekonomi Moneter dan Perbankan / Bulletin of Monetary Economics and Banking is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
