ANALISIS VARIABEL-VARIABEL SEKTOR RIEL DAN SEKTOR MONETER YANG MEMBENTUK KESEIMBANGAN UMUM (PENDEKATAN MODEL IS-LM)
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Date
2013-05-30
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Seminar Nasional Call For Papers, Fakultas Ekonomi Universitas Sebelas Maret Surakarta
Abstract
The purpose of this study is to analysis of Indonesian economic macro with IS-LM
model approach. A research of Indonesian economic by IS-LM analysis is to
determine general equilibrium both in good market and money market. The IS-LM
analysis assumes that price level is constant, so formulation of economic policy is
how for the effectiveness of fiscal policy to move IS curve, in other side how for
the effectiveness of monetary policy to move LM curve for achieving t a high
national income is formulated. Model consist of seven equation. Two Stage Least
Square (TSLS) method is used for analysis the time series data with identification
model test, all of equation is overidentified, so this model can operate with TSLS
methods. The research result shows that the general equilibrium occur in a
national income at 180166,8362 milyar rupias and an interest rate at 12,48
percent. The IS-LM model can help policy maker predict what will happen to
agregate output and interest rate if they decide to increase the money supply or
increase government spending. IS-LM analysis enable us to answer some
important question about the usefulness and effectiveness of monetary and fiscal
policy on economic activity. The conclusion of this research states that an
exspansive fiscal policy and raising intermediate high national income in order
that a monetary policy can push the real sector.
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Keywords
Aggregate output, interest rate, fiscal policy, monetary policy, good market, money market, IS-LM