DAMPAK ASIMETRIS TERHADAP OUTPUT DALAM SEBUAH SERIKAT MONETER DENGAN PENDEKATAN META-ANALYSIS
Abstract
The regional impact of the monetary policy has been a crucial issue especially on its distributional impact. Using Meta-Analysis, this paper run a quantitative survey on previous studies to explain the asymmetric impact of national policy on economic growth across region. Based on selected criteria we have similar researches on sample data; mainly they used VAR method.
Our model estimation shows the significant and importance of capital intensity degree, the financial depth and several macroeconomic indicators in explaining the different result across region and period of these studies. In general our finding confirms the robustness of their result.
Keywords: Monetary union, output, Meta-Analysis
JEL Classification: E52, R11, C83
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References
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Altavilla, C. (2000) Measuring monetary policy asymmetries across EMU countries. Katholieke Universiteit Leuven, Discussion Paper no. 22.
Anzuini, A. and Levy, A. (2007) Monetary policy shocks in the new EU members: A VAR approach. Applied Economics 39, 9, 1147-1162.
Alesina, A., Spolaore, E. and Wacziarg, R. (2005) Trade, growth and the size of countries. In: Aghion, P. and Durlauf, S. (eds), Handbook of Economic Growth. North Holland: Elsevier.
Aksoy, Y., De Grauwe, P., and Dewachter, H. (2002) Do asymmetries matter for European monetary Policy? European Economic Review 46, 443 - 469.
Artis M.J. and Zhang, W. (1998a) Core and periphery in EMU: a cluster analysis. European University Institute, RSC Working Papers no. 98/37.
Artis M.J. and Zhang, W. (1998b) Membership of EMU: a fuzzy clustering analysis of alternative criteria. European University Institute, RSC Working Papers no. 98/52.
Baldwin, R.E. and Wyplosz, C. (2004) The Economics of European Integration. New York: McGraw-Hill.
Barth III, M. J. and. Ramey, V. A. (2001) The cost channel of monetary transmission. NBER Macroeconomics Annual 16, 199-240.
Beck, T., Levine, R. and Loayza, N. (2000) Financial intermediation and growth: Causality and causes. Journal of Monetary Economics 46, 1, 31-77.
Bernanke, B. S. and Blinder, A. S. (1992) The federal funds rate and the channels of monetary transmission. The American Economic Review 82, 4, 901-21.
Bernanke, B.S. (1986) Altenative explanations of money-income correlation.
Carnegie-Rochester Conference Series on Public Policy 25, 49 -100.
Bernanke, B.S. and Gertler, M. (1995) Inside the black box, the credit channel of monetary policy transmission. Journal of Economic Perspectives 9, 27 -48.
Blanchard, O. J. and D. Quah. (1989) The dynamic effects of aggregate demand and supply disturbances. The American Economic Review 79, 4, 655-73.
Bösch, H. (2004). Reanalyzing a meta-analysis on extra-sensory perception dating from 1940, the first comprehensive meta-analysis in the history of science. In S. Schmidt (Ed.), Proceedings of the 47th Annual Convention of the Parapsychological Association, University of Vienna, (pp. 1 -13)
Card, D. and Krueger, A. B. (1995) Time-series minimum-wage studies: a meta-analysis. The American Economic Review 85, 238-43.
Carlino, G. and De Fina, R.H. (1998) The differential regional effects of monetary policy. Review of Economics and Statistics 80, 572- 587.
Carlino, G. and De Fina, R.H. (1999) The differential regional effects of monetary policy: evidence from the U.S. States. Journal of Regional Science 39, 339- 358.
Cecchetti, S. G. (1999) Legal structure, financial structure, and the monetary policy transmission mechanism. National Bureau of Economic Research, Working Paper no.- 7151.
Clements, B.,- Kontolemis, Z., Levy, J., and Joaquim, V. (2001) Monetary Policy under EMU: Differences in the transmission mechanism. IMF, Working Paper no. 01/102.
Cover, J.P. (1992) Asymmetric effects of positive and negative money-supply shocks. The Quarterly Journal of Economics 107, 4, 1261-1282.
Dedola, L. and Lippi, F. (2005) The monetary transmission mechanism: Evidence from the industries of five OECD countries. European Economic Review 49, 1543-69.
De Grauwe, P. (1994) The Economics of Monetary Integration. Oxford: Oxford University Press.
De Grauwe, P. and Storti, C. C. (2004) The effects of monetary policy: a meta-analysis CESIFO, Working Paper no. 1224.
De Long, J. B., Summers, L. H., Mankiw, N. G. and Romer, C. D. (1988) How Does Macroeconomic Policy Affect Output? Brookings Papers on Economic Activity 2, 433-494.
Ehrmann, M. (1998) Will EMU generate asymmetry? Comparing monetary policy transmission across European countries. EUI, Working Paper no.28.
Elbourne, A. and de Haan, J. (2004) Asymmetric Monetary Transmission in EMU: The Robustness of VAR Conclusions and Cecchetti’s Legal Family Theory. CESIFO, Working Paper no. 1327.
Enders, W. (2004). Applied Econometrics Time Series. Hoboken, NJ: John Wiley and Sons.
Faust, J. (1998) The robustness of identified VAR conclusions about money. Carnegie-Rochester Conference Series on Public Policy 49, 207-244.
Fishkind, H.H. (1977) The regional impact of monetary policy: an economic simulation study of Indiana (1958- 1973). Journal of Regional Science 17, 77- 88.
Florax, R. J. G. M., Groot, H. L. F. and Mooij, R. A. (2002) Meta-analysis: a tool for upgrading inputs of macroeconomic policy models. Tinbergen Institute, Discussion Papers no. 041/3.
Florio (2004) The asymmetric effects of monetary policy. Journal of Economic Surveys 18, 3, 409-426.
Frantantoni, M. and Schuh, S. (2003) Monetary policy, housing, and heterogeneous regional markets. Journal of Money, Credit and Banking 35, 557- 589.
Ganley, J., and Salmon, C. (1997) The industrial impact of monetary policy shocks: some stylized facts. Bank of England, Working Paper no. 68.
Gali, J. (1992) How well does the IS-LM model fit postwar US data? The Quarterly Journal of Economics, 107, 2, 709-38.
Gali, J. (1999) Technology, employment, and the business cycle: do technology shocks explain aggregate fluctuations? American Economic Review 89, 1, 249-71.
Garrison, C.B. and Chang, H.S. (1979) The effect of monetary and fiscal policies on regional business cycles. International Regional Science Review 4, 167- 180.
Gerlach, S. and Smets, F. (1995) The monetary transmission mechanism: evidence from the G-7 countries. BIS, Working Paper no. 26.
Gorg, H. and Strobl, E. (2001) Multinational companies and productivity spillovers: a metaanalysis. Economic Journal 111, 475, 723-39.
Greene, W. H. (2000) Econometric Analysis. New Jersey: Prentice Hall Upper Saddle River.
Guiso, L., Kashyap, A.K., Panetta, F. and Terlizzese, D. (2000) Will a common European monetary policy have asymmetric effects? Economic Perspectives 4, 56-75.
Gujarati, D. N. (2003) Basic Econometrics. New York: McGraw-Hill.
Hallet, A.H. and Piscitelli, L. (1999) EMU in reality: The effect of a common monetary policy on economies with different transmission mechanisms. Empirica 26, 4, 337-358.
Homes, M.J. (2000) Monetary shocks and the asymmetric adjustment of UK regional output. Environment and Planning C: Government and Policy 18, 667-680.
Karras, G. (1996) Are the output effects of monetary policy asymmetric? Evidence from a sample of European countries. Oxford Bulletin of Economics and Statistics 58, 2, 267-278.
Keef, S.P. and Roberts, L.A. (2004). The meta-analysis of partial effect sizes. British Journal of Mathematical and Statistical Psychology 57, 1, 97-129.
Kalaitzidakis, P., Mamuneas, T. P. and Stengos, T. (2003) Rankings of academic journals and institutions in economics. Journal of the European Economic Association 1, 6, 1346-66.
Kennedy, P. (2008) A Guide to Econometrics. Oxford: Blackwell Publishing,.
Kieler, M., and Saarenheimo, T. (1998). Differences in monetary policy transmission?: a case not closed. European Commission Economic Papers 2, 407.
King, R. G ., Plosser, C.I., Stock, J.H., and Watson, M.W. (1991) Stochastic trends and economic fluctuations. The American Economic Review 81, 4, 819-40.
King, R. G. and Levine, R. (1993) Finance and growth: Schumpeter might be right. The Quarterly Journal of Economics 108, 3, 717-37.
Kiviet, B., Elbourne, A. and de Haan, J. (2003) Financial structure and monetary policy transmission in transition countries. Rijksuniversiteit Groningen Working Paper.
Knell, M., and Stix, H. (2003) The Income Elasticity of Money Demand: A Meta-analysis of Empirical Results. Journal of Economic Surveys 19, 3, 513-33.
Koetse, M. J., Florax, R. J. G. M. and de Groot, H. L. F. (2005) Correcting for primary study misspecifications in meta-analysis. Tinbergen Institute, Discussion Papers no. 05/029.
Krueger, A. B. (2003) Economic considerations and class size. Economic Journal 113, 34-63.
Leeper, E. M., Sims, C.A., and Zha, T. (1996) What does monetary policy do? Brookings Papers on Economic Activity 2, 1-63.
Levine, R. (1997) Financial development and economic growth: Views and agenda. Journal of Economic Literature 35, 688- 726.
Mankiw, N.G. (1997)- Macroeconomics. New York: Worth Publishers.
Mihov, I. (2001) One monetary policy in EMU. Economic Policy, 33, 369-406.
Miller, R.J. (1978) The Regional Impact of Monetary Policy in the United States. Lexington, MA: Lexington Books.
Mishkin, F. (1995) Symposium on the Monetary Transmission Mechanism. Journal of Economic Perspectives 9, 3- 10.
Mishkin, F. S. (1996) The channels of monetary transmission: lessons for monetary policy. National Bureau of Economic Research, Working Paper no. 5464.
Mojon, B., and Peersman, G. (2001) A VAR description of the effects of monetary policy in the individual countries of the euro area. European Central Bank, Working Paper no. 92.
Nijkamp, P. and Poot, J. (2004) Meta-analysis of the effect of fiscal policies on long-run growth. European Journal of Political Economy 20, 1, 91-124.
Organisation for Economic Cooperation and Development (1999) EMU, Facts, Challenges and Policies. Paris: OECD.
Owyang, M.T. and Wall, H.J. (2004) Structural breaks and regional disparities in the transmission of monetary policy. Federal Reserve Bank of St. Louis, Working Paper no. 2003- 008C.
Pearson, Karl, (1904), Mathematical contributions to the theory of evolution.
Peersman, G. (2004) The transmission of monetary policy in the Euro Area: are the effects different across countries? Oxford Bulletin of Economics and Statistics 66, 3, 285-308.
Pitzel, D., and Uuskula, L. (2005) The effect of financial depth on monetary transmission. Eesti Bank, Working Papers no. 10.
Ridhwan, M. M., Nijkamp P., Rietveld, P. and de Groot, H. L. F. (2008) Regional development and monetary policy: a review of the role of monetary unions, capital mobility and locational effects. VU Amsterdam, Research Memoranda no. 0007.
Rose, A. K. and T. D. Stanley. (2005) A meta-analysis of the effect of common currencies on international trade. Journal of Economic Surveys 19,3, 347-65.
Romer, D. (1996). Advanced Macroeconomics. New York: McGraw-Hill Companies-Inc.
Schunk, D. (2005) The differential impacts of monetary policy: are the differences diminishing? Papers in Regional Science 84, 1, 127-36.
Shapiro, M. D. and Watson, M. W. (1988) Sources of business cycle fluctuations. NBER Macroeconomic Annual 3, 111-48.
Sims, C.A. (1980) Macroeconomics and reality. Econometrica 48, 1-48.
Sims, C.A. (1986) Are forecasting models usable for policy analysis.
Federal Reserve Bank of Minneapolis Quarterly Review (Winter edition), 3- 16.
Smith, V. K. and J. C. Huang. (1995) Can markets value air quality? A meta-analysis of hedonic property value models. Journal of Political Economy 103, 209-27.
Stanley, T. D. (2005) Beyond publication bias. Journal of Economic Surveys 19, 3, 309-45.
Stanley, T. D. and Jarrell, S.B. (1989) Meta-Regression Analysis: a Quantitative Method of Literature Surveys. Journal of Economic Surveys 19, 3, 299-308.
Sutton, A.J., Abrams, K.R., Jones, D.R., Sheldon, T.A. and Song, F. (2000) Methods for Meta-Analysis in Medical Research. Chichester: John Wiley & Sons.
Taylor, J. (1995) The monetary transmission mechanism: an empirical framework. Journal of Economic Perspectives 9, 11- 26.
Weichselbaumer, D. and R. Winter-Ebmer. (2005) A meta-analysis of the international wage gender gap. Journal of Economic Surveys 19, 3, 479-511.
White, H. (1984) Asymptotic Theory for Econometricians. Orlando: Academic Press.
Altavilla, C. (2000) Measuring monetary policy asymmetries across EMU countries. Katholieke Universiteit Leuven, Discussion Paper no. 22.
Anzuini, A. and Levy, A. (2007) Monetary policy shocks in the new EU members: A VAR approach. Applied Economics 39, 9, 1147-1162.
Alesina, A., Spolaore, E. and Wacziarg, R. (2005) Trade, growth and the size of countries. In: Aghion, P. and Durlauf, S. (eds), Handbook of Economic Growth. North Holland: Elsevier.
Aksoy, Y., De Grauwe, P., and Dewachter, H. (2002) Do asymmetries matter for European monetary Policy? European Economic Review 46, 443 - 469.
Artis M.J. and Zhang, W. (1998a) Core and periphery in EMU: a cluster analysis. European University Institute, RSC Working Papers no. 98/37.
Artis M.J. and Zhang, W. (1998b) Membership of EMU: a fuzzy clustering analysis of alternative criteria. European University Institute, RSC Working Papers no. 98/52.
Baldwin, R.E. and Wyplosz, C. (2004) The Economics of European Integration. New York: McGraw-Hill.
Barth III, M. J. and. Ramey, V. A. (2001) The cost channel of monetary transmission. NBER Macroeconomics Annual 16, 199-240.
Beck, T., Levine, R. and Loayza, N. (2000) Financial intermediation and growth: Causality and causes. Journal of Monetary Economics 46, 1, 31-77.
Bernanke, B. S. and Blinder, A. S. (1992) The federal funds rate and the channels of monetary transmission. The American Economic Review 82, 4, 901-21.
Bernanke, B.S. (1986) Altenative explanations of money-income correlation.
Carnegie-Rochester Conference Series on Public Policy 25, 49 -100.
Bernanke, B.S. and Gertler, M. (1995) Inside the black box, the credit channel of monetary policy transmission. Journal of Economic Perspectives 9, 27 -48.
Blanchard, O. J. and D. Quah. (1989) The dynamic effects of aggregate demand and supply disturbances. The American Economic Review 79, 4, 655-73.
Bösch, H. (2004). Reanalyzing a meta-analysis on extra-sensory perception dating from 1940, the first comprehensive meta-analysis in the history of science. In S. Schmidt (Ed.), Proceedings of the 47th Annual Convention of the Parapsychological Association, University of Vienna, (pp. 1 -13)
Card, D. and Krueger, A. B. (1995) Time-series minimum-wage studies: a meta-analysis. The American Economic Review 85, 238-43.
Carlino, G. and De Fina, R.H. (1998) The differential regional effects of monetary policy. Review of Economics and Statistics 80, 572- 587.
Carlino, G. and De Fina, R.H. (1999) The differential regional effects of monetary policy: evidence from the U.S. States. Journal of Regional Science 39, 339- 358.
Cecchetti, S. G. (1999) Legal structure, financial structure, and the monetary policy transmission mechanism. National Bureau of Economic Research, Working Paper no.- 7151.
Clements, B.,- Kontolemis, Z., Levy, J., and Joaquim, V. (2001) Monetary Policy under EMU: Differences in the transmission mechanism. IMF, Working Paper no. 01/102.
Cover, J.P. (1992) Asymmetric effects of positive and negative money-supply shocks. The Quarterly Journal of Economics 107, 4, 1261-1282.
Dedola, L. and Lippi, F. (2005) The monetary transmission mechanism: Evidence from the industries of five OECD countries. European Economic Review 49, 1543-69.
De Grauwe, P. (1994) The Economics of Monetary Integration. Oxford: Oxford University Press.
De Grauwe, P. and Storti, C. C. (2004) The effects of monetary policy: a meta-analysis CESIFO, Working Paper no. 1224.
De Long, J. B., Summers, L. H., Mankiw, N. G. and Romer, C. D. (1988) How Does Macroeconomic Policy Affect Output? Brookings Papers on Economic Activity 2, 433-494.
Ehrmann, M. (1998) Will EMU generate asymmetry? Comparing monetary policy transmission across European countries. EUI, Working Paper no.28.
Elbourne, A. and de Haan, J. (2004) Asymmetric Monetary Transmission in EMU: The Robustness of VAR Conclusions and Cecchetti’s Legal Family Theory. CESIFO, Working Paper no. 1327.
Enders, W. (2004). Applied Econometrics Time Series. Hoboken, NJ: John Wiley and Sons.
Faust, J. (1998) The robustness of identified VAR conclusions about money. Carnegie-Rochester Conference Series on Public Policy 49, 207-244.
Fishkind, H.H. (1977) The regional impact of monetary policy: an economic simulation study of Indiana (1958- 1973). Journal of Regional Science 17, 77- 88.
Florax, R. J. G. M., Groot, H. L. F. and Mooij, R. A. (2002) Meta-analysis: a tool for upgrading inputs of macroeconomic policy models. Tinbergen Institute, Discussion Papers no. 041/3.
Florio (2004) The asymmetric effects of monetary policy. Journal of Economic Surveys 18, 3, 409-426.
Frantantoni, M. and Schuh, S. (2003) Monetary policy, housing, and heterogeneous regional markets. Journal of Money, Credit and Banking 35, 557- 589.
Ganley, J., and Salmon, C. (1997) The industrial impact of monetary policy shocks: some stylized facts. Bank of England, Working Paper no. 68.
Gali, J. (1992) How well does the IS-LM model fit postwar US data? The Quarterly Journal of Economics, 107, 2, 709-38.
Gali, J. (1999) Technology, employment, and the business cycle: do technology shocks explain aggregate fluctuations? American Economic Review 89, 1, 249-71.
Garrison, C.B. and Chang, H.S. (1979) The effect of monetary and fiscal policies on regional business cycles. International Regional Science Review 4, 167- 180.
Gerlach, S. and Smets, F. (1995) The monetary transmission mechanism: evidence from the G-7 countries. BIS, Working Paper no. 26.
Gorg, H. and Strobl, E. (2001) Multinational companies and productivity spillovers: a metaanalysis. Economic Journal 111, 475, 723-39.
Greene, W. H. (2000) Econometric Analysis. New Jersey: Prentice Hall Upper Saddle River.
Guiso, L., Kashyap, A.K., Panetta, F. and Terlizzese, D. (2000) Will a common European monetary policy have asymmetric effects? Economic Perspectives 4, 56-75.
Gujarati, D. N. (2003) Basic Econometrics. New York: McGraw-Hill.
Hallet, A.H. and Piscitelli, L. (1999) EMU in reality: The effect of a common monetary policy on economies with different transmission mechanisms. Empirica 26, 4, 337-358.
Homes, M.J. (2000) Monetary shocks and the asymmetric adjustment of UK regional output. Environment and Planning C: Government and Policy 18, 667-680.
Karras, G. (1996) Are the output effects of monetary policy asymmetric? Evidence from a sample of European countries. Oxford Bulletin of Economics and Statistics 58, 2, 267-278.
Keef, S.P. and Roberts, L.A. (2004). The meta-analysis of partial effect sizes. British Journal of Mathematical and Statistical Psychology 57, 1, 97-129.
Kalaitzidakis, P., Mamuneas, T. P. and Stengos, T. (2003) Rankings of academic journals and institutions in economics. Journal of the European Economic Association 1, 6, 1346-66.
Kennedy, P. (2008) A Guide to Econometrics. Oxford: Blackwell Publishing,.
Kieler, M., and Saarenheimo, T. (1998). Differences in monetary policy transmission?: a case not closed. European Commission Economic Papers 2, 407.
King, R. G ., Plosser, C.I., Stock, J.H., and Watson, M.W. (1991) Stochastic trends and economic fluctuations. The American Economic Review 81, 4, 819-40.
King, R. G. and Levine, R. (1993) Finance and growth: Schumpeter might be right. The Quarterly Journal of Economics 108, 3, 717-37.
Kiviet, B., Elbourne, A. and de Haan, J. (2003) Financial structure and monetary policy transmission in transition countries. Rijksuniversiteit Groningen Working Paper.
Knell, M., and Stix, H. (2003) The Income Elasticity of Money Demand: A Meta-analysis of Empirical Results. Journal of Economic Surveys 19, 3, 513-33.
Koetse, M. J., Florax, R. J. G. M. and de Groot, H. L. F. (2005) Correcting for primary study misspecifications in meta-analysis. Tinbergen Institute, Discussion Papers no. 05/029.
Krueger, A. B. (2003) Economic considerations and class size. Economic Journal 113, 34-63.
Leeper, E. M., Sims, C.A., and Zha, T. (1996) What does monetary policy do? Brookings Papers on Economic Activity 2, 1-63.
Levine, R. (1997) Financial development and economic growth: Views and agenda. Journal of Economic Literature 35, 688- 726.
Mankiw, N.G. (1997)- Macroeconomics. New York: Worth Publishers.
Mihov, I. (2001) One monetary policy in EMU. Economic Policy, 33, 369-406.
Miller, R.J. (1978) The Regional Impact of Monetary Policy in the United States. Lexington, MA: Lexington Books.
Mishkin, F. (1995) Symposium on the Monetary Transmission Mechanism. Journal of Economic Perspectives 9, 3- 10.
Mishkin, F. S. (1996) The channels of monetary transmission: lessons for monetary policy. National Bureau of Economic Research, Working Paper no. 5464.
Mojon, B., and Peersman, G. (2001) A VAR description of the effects of monetary policy in the individual countries of the euro area. European Central Bank, Working Paper no. 92.
Nijkamp, P. and Poot, J. (2004) Meta-analysis of the effect of fiscal policies on long-run growth. European Journal of Political Economy 20, 1, 91-124.
Organisation for Economic Cooperation and Development (1999) EMU, Facts, Challenges and Policies. Paris: OECD.
Owyang, M.T. and Wall, H.J. (2004) Structural breaks and regional disparities in the transmission of monetary policy. Federal Reserve Bank of St. Louis, Working Paper no. 2003- 008C.
Pearson, Karl, (1904), Mathematical contributions to the theory of evolution.
Peersman, G. (2004) The transmission of monetary policy in the Euro Area: are the effects different across countries? Oxford Bulletin of Economics and Statistics 66, 3, 285-308.
Pitzel, D., and Uuskula, L. (2005) The effect of financial depth on monetary transmission. Eesti Bank, Working Papers no. 10.
Ridhwan, M. M., Nijkamp P., Rietveld, P. and de Groot, H. L. F. (2008) Regional development and monetary policy: a review of the role of monetary unions, capital mobility and locational effects. VU Amsterdam, Research Memoranda no. 0007.
Rose, A. K. and T. D. Stanley. (2005) A meta-analysis of the effect of common currencies on international trade. Journal of Economic Surveys 19,3, 347-65.
Romer, D. (1996). Advanced Macroeconomics. New York: McGraw-Hill Companies-Inc.
Schunk, D. (2005) The differential impacts of monetary policy: are the differences diminishing? Papers in Regional Science 84, 1, 127-36.
Shapiro, M. D. and Watson, M. W. (1988) Sources of business cycle fluctuations. NBER Macroeconomic Annual 3, 111-48.
Sims, C.A. (1980) Macroeconomics and reality. Econometrica 48, 1-48.
Sims, C.A. (1986) Are forecasting models usable for policy analysis.
Federal Reserve Bank of Minneapolis Quarterly Review (Winter edition), 3- 16.
Smith, V. K. and J. C. Huang. (1995) Can markets value air quality? A meta-analysis of hedonic property value models. Journal of Political Economy 103, 209-27.
Stanley, T. D. (2005) Beyond publication bias. Journal of Economic Surveys 19, 3, 309-45.
Stanley, T. D. and Jarrell, S.B. (1989) Meta-Regression Analysis: a Quantitative Method of Literature Surveys. Journal of Economic Surveys 19, 3, 299-308.
Sutton, A.J., Abrams, K.R., Jones, D.R., Sheldon, T.A. and Song, F. (2000) Methods for Meta-Analysis in Medical Research. Chichester: John Wiley & Sons.
Taylor, J. (1995) The monetary transmission mechanism: an empirical framework. Journal of Economic Perspectives 9, 11- 26.
Weichselbaumer, D. and R. Winter-Ebmer. (2005) A meta-analysis of the international wage gender gap. Journal of Economic Surveys 19, 3, 479-511.
White, H. (1984) Asymptotic Theory for Econometricians. Orlando: Academic Press.
Published
2010-10-29
How to Cite
Ridhwan, M. (2010). DAMPAK ASIMETRIS TERHADAP OUTPUT DALAM SEBUAH SERIKAT MONETER DENGAN PENDEKATAN META-ANALYSIS. Buletin Ekonomi Moneter Dan Perbankan, 12(2), 207-241. https://doi.org/10.21098/bemp.v12i2.355
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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.
