scholarly journals Pengaruh Quantitative Easing dan Tapering Off serta Indikator Makroekonomi terhadap Nilai Tukar Rupiah

2020 ◽  
Vol 4 (1) ◽  
pp. 64-85
Author(s):  
Almuyasa Vidia Dinata ◽  
Siskarossa Ika Oktora
Keyword(s):  
Exchange Rate ◽  
Financial Crisis ◽  
Foreign Exchange ◽  
The United States ◽  
Series Data ◽  
Quantitative Easing ◽  
Foreign Exchange Reserves ◽  
2008 Financial Crisis ◽  
Current Period ◽  
The 2008 Financial Crisis

Since the 2008 financial crisis, rupiah’s volatility has experienced high volatility. This volatility is indicated associated with other macroeconomic indicators such as BI-Rate, export-import ratio, CPI, IHSG, and foreign exchange reserves against the rupiah exchange rate. In addition, in terms of an external factor, there is a nonconventional monetary policy package taken by The Fed to restore the economy of the United States after the 2008 financial crisis called Quantitative Easing (QE) and Tapering Off (TO). This study aims to see the effect of these two policies and macroeconomic variables on the rupiah exchange rate. This research uses time-series data from January 2005-December 2017 is carried out using the Autoregressive Distributed Lag (ARDL) method. Based on the result, we concluded that the model obtained was ARDL (3,0,5,0,4,3). We found that rupiah exchange rate 1st and 3rd lag, export-import ratio 3rd lag, foreign exchange reserves current period, CPI 4th lag, IHSG current period, 1st, 2nd, and 3rd lag, and the QE policy significantly affect the rupiah’s volatility. This shows that the stability of the rupiah is not only based on fundamental economic variables but also based on the monetary policies of other countries.

scholarly journals The Effect of the 2008 Global Financial Crisis on the Efficiency of Large U.S. Commercial Banks

2019 ◽  
Vol 12 (2) ◽  
pp. 11-27
Author(s):  
Seyed Mehdian ◽  
Rasoul Rezvanian ◽  
Ovidiu Stoica
Keyword(s):  
Financial Crisis ◽  
Commercial Banks ◽  
Global Financial Crisis ◽  
The United States ◽  
Commercial Banking ◽  
Scale Efficiency ◽  
Mortgage Loans ◽  
2008 Financial Crisis ◽  
Efficiency Measures ◽  
The 2008 Financial Crisis

AbstractThe 2008 financial crisis, originated by securitization of sub-prime mortgage loans, had a huge impact on U.S. financial institutions and markets. We hypothesize that due to this crisis, the commercial banking industry has changed their portfolio structures and risk-taking behavior. To shed light on the response of U.S. banks to the 2008 financial crisis, we use the non-parametric approach to measure and compare the overall efficiency of large U.S. banks pre- and post-2008 financial crisis. We then decompose the overall measure of efficiency into allocative, overall technical, pure technical, and scale efficiency measures to better understand the sources of banking inefficiencies. The results indicate that large U.S. banks indeed changed their portfolios structure, and the efficiency of large commercial banks in the United States declined substantially during the financial crisis. Although it has been recovering since then, it still has not reached to the pre-crisis efficiency level.

Assessing the Impact of the 2008 Financial Crisis on the Labor Force, Employment, and Wages of Persons with Disabilities in Spain

2018 ◽  
Vol 29 (3) ◽  
pp. 178-188 ◽  
Author(s):  
Marco Garrido-Cumbrera ◽  
Jorge Chacón-García
Keyword(s):  
Financial Crisis ◽  
Labor Force ◽  
Educational Level ◽  
People With Disabilities ◽  
The United States ◽  
Average Wage ◽  
2008 Financial Crisis ◽  
Persons With Disabilities ◽  
The 2008 Financial Crisis ◽  
The Impact

The financial crisis of 2008 has had a greater effect on people with disabilities than on those without disabilities in Spain. In recent years, the number of persons with disabilities registered as part of the labor force and having a higher educational level has increased. However, the unemployment rate among people with disabilities has grown at a faster pace, especially for women and young people. A similar situation has occurred with respect to the annual gross average wage; the gap between those with and without disabilities has increased in the years following the crisis. The present study reveals that Spanish public policies aimed at improving levels of employment for people with disabilities have not achieved the expected results. Here, we explore the possible causes and compare the results with those obtained in the United States.

scholarly journals PENGARUH INFLASI, JUB, SBI, SERTA CADANGAN DEVISA TERHADAP NILAI TUKAR RUPIAH TAHUN 2017-2020

2021 ◽  
Vol 6 (2) ◽  
pp. 60-72
Author(s):  
Duwik Tri Utami ◽  
Fitrah Sari Islami
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Money Supply ◽  
Foreign Exchange ◽  
Open Economy ◽  
The United States ◽  
Foreign Exchange Reserves ◽  
Short Term ◽  
The Exchange Rate

Indonesia's economy refers to an open economy. In conducting international trade, countries must compare their currencies with currencies belonging to other countries. Where, the United States currency, namely the dollar, is still the standard of world exchange rates and is used in international transactions. The effect of fluctuations in the exchange rate of the rupiah with the dollar is the occurrence of depreciation or appreciation which will affect Indonesia's economic activities. The purpose of this study is to determine the effect of inflation, the money supply (M2), the SBI interest rate, and foreign exchange reserves on the rupiah exchange rate in the short and long term. The variables that are thought to be able to influence changes in the rupiah exchange rate are the inflation rate, the money supply (M2), the SBI interest rate, and foreign exchange reserves. This research was conducted during January 2017 to December 2020, using the Error Correction Model (ECM). The result is a long-term and short-term relationship. In the short term, foreign exchange reserves and the money supply (M2) significantly affect the exchange rate. Meanwhile, in the long term, the SBI interest rate, money supply (M2), and foreign exchange reserves significantly affect the exchange rate.

scholarly journals The Dynamics of The Rupiah Exchange Rate in 2017-2020

2020 ◽  
Vol 5 (2) ◽  
pp. 1
Author(s):  
Muhammad Arief Aldila Susanto ◽  
Rr. Retno Retno Sugiharti
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Money Supply ◽  
Foreign Exchange ◽  
Time Series Data ◽  
Series Data ◽  
Foreign Exchange Reserves ◽  
Long Run ◽  
Short Run ◽  
The Exchange Rate

<p align="justify">The exchange rate is one of the most important indicators in the economy. Moreover, with the increasing intensity of trade between countries, commonly referred to as international trade, this economic indicator becomes important for every country, including Indonesia. The change in the Indonesian exchange rate system to a free-floating system has made the exchange rate fluctuations more dynamic. The fluctuations are influenced by various factors, both internal and external. This study aims to determine the effect of the money supply (M<sub>2</sub>), foreign exchange reserves, SBI interest rates and world crude oil prices on the rupiah/dollar exchange rate in 2017-2020 both in the short run and in the long run. The data used is monthly time series data from 2017-2020. The analytical method used in this study is the Error Correction Model (ECM). The results in this study indicate that in the short run and long run the money supply and foreign exchange reserves variables have a significant effect on the rupiah exchange rate in 2017-2020.</p>

“Trump”—What Does the Name Signify? or, Protofascism and the Alt-Right

2018 ◽  
Vol 14 (1) ◽  
pp. 1-19 ◽  
Author(s):  
Matthew Flisfeder
Keyword(s):  
United States ◽  
Financial Crisis ◽  
Historical Context ◽  
The United States ◽  
Right Wing ◽  
2008 Financial Crisis ◽  
Contemporary Politics ◽  
Politics And Culture ◽  
The Media ◽  
The 2008 Financial Crisis

This article examines the rise of the alt-right and Donald Trump’s successful campaign for president of the United States in the context of three overlapping contradictions: that of subversion in postmodern culture and politics, that between the democratic and commercial logics of the media, and that of the failure of the Left in the wake of the 2008 financial crisis. The article looks at the rise of “Trumpism” and the new brand of white nationalist and misogynistic culture of the so-called alt-right in its historical context to show how it is consistent with but also distinguished from previous right-wing ideologies. More generally, the three contradictions presented here are proposed as explanations for understanding the mainstreaming of the alt-right in contemporary politics and culture.

scholarly journals Economic Growth and Government Debt of Six Large National Economies before and after the 2008 Financial Crisis

2018 ◽  
Vol 7 (4) ◽  
pp. 30
Author(s):  
Jean Loo ◽  
Haihong He
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Empirical Studies ◽  
Government Debt ◽  
The United States ◽  
2008 Financial Crisis ◽  
Before And After ◽  
Negative Effect ◽  
The 2008 Financial Crisis ◽  
National Economies

This paper investigates the causal relationship between economic growth and government debt of six large national economies ten years before and ten years after the 2008 financial crisis. There have been numerous studies on whether government debt has any negative effect on economic growth. The results of most empirical studies are mixed depending on the levels of government debt, the countries included in the sample, the sample periods chosen, and the methodologies employed. This paper focuses on six large national economies, namely, the United States, Japan, Germany, the United Kingdom, France, and Canada during the periods ten years before and ten years after the most recent financial crisis of 2008. It is found that there are significant increases in the level of government debt and decreases in economic growth during the ten years after the financial crisis for all six countries. Our results show that the hypothesis that government debt does not Granger-cause economic growth is rejected for all six countries combined for the pre- financial crisis sub-period and the whole sample period, but not for the post financial crisis sub-period.  The hypothesis that economic growth does not Granger-cause government debt is also rejected for both the pre- and post- financial crisis sub-periods as well as for the whole period. In short, our investigation documented a bidirectional Granger causality between government debt and economic growth during periods ten years before, ten years after, and the combined periods before and after the 2008 financial crisis. The evidence also suggests that economic growth reduced government debt for most countries during all three sample periods.

scholarly journals EXCHANGE MARKET PRESSURE PENDETEKSI KRISIS KEUANGAN DI INDONESIA

2015 ◽  
Vol 4 (1) ◽  
pp. 19
Author(s):  
Khairul Azhar ◽  
Hasdi Aimon ◽  
Selli Nelonda
Keyword(s):  
Exchange Rate ◽  
Financial Crisis ◽  
Foreign Exchange ◽  
Warning System ◽  
Real Effective Exchange Rate ◽  
Exchange Market ◽  
Foreign Exchange Reserves ◽  
Exchange Market Pressure ◽  
Using Data ◽  
Market Pressure

This study aimed to analyze: (1) Probability of Real Effective Exchange Rate, Foreign Exchange Reserves, Export, Import, loan to deposit ratio, Return to the assets of the financial crisis in Indonesia. Using data from the years 1995 to 2014 times series. This research is using Early warning system using econometric approach, through the Exchange Market Pressure (EMP). These results indicate: (1) Real Exchange Rate Efecctive have significant opportunities to the financial crisis. (2) The foreign exchange reserves have significant opportunities to the financial crisis. (3) Exports have significant opportunities to the financial crisis. (4) imports did not have significant opportunities to financial krissi. (5) The loan to deposit ratio has a significant opportunity to the financial crisis. (6) Return to Asset does not have significant opportunities to the financial crisis. (7) Real Efecctive Exchange Rate, foreign exchange reserves, exports, imports, loan to deposit ratio and Return to Asset jointly chance against the financial crisis in Indonesia.Keyword  : Exchange Market Pressure, Early Waring System crises

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