scholarly journals VARIABEL-VARIABEL PENGGERAK INDEKS HARGA SAHAM SEKTOR PERTANIAN

2020 ◽  
Vol 2019 (1) ◽  
pp. 720-725
Author(s):  
Muhammad Febrian Rizky Ramadhan ◽  
Gama Putra Danu Sohibien
Keyword(s):  
Federal Funds ◽  
Federal Funds Rate ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag

Indeks harga saham sektor pertanian di Indonesia cenderung menurun dari tahun 2009 – 2018 dengan rata-rata pertumbuhan sebesar -0,76 persen per tahun. Apabila tidak terjadi pemulihan harga, penurunan yang terjadi berpotensi menimbulkan sentimen buruk terhadap sektor pertanian dan menurunkan aliran modal masuk terhadap perusahaan-perusahaan yang tercakup dalam sektor tersebut. Dalam upaya memecahkan permasalahan tersebut, dilakukan identifikasi variabel-variabel yang mempengaruhi harga saham sektor pertanian. Adapun variabel yang diduga memiliki pengaruh terhadap harga saham sektor tersebut, yakni nilai tukar rupiah terhadap dolar Amerika Serikat, federal funds rate, harga minyak kelapa sawit, dan volume transaksi saham sektor pertanian. Dengan pemodelan Autoregressive Distributed-lag disimpulkan bahwa, keempat variabel tersebut memiliki pengaruh yang signifikan terhadap indeks harga saham sektor pertanian. Federal Funds Rate dan nilai tukar rupiah memiliki pengaruh negatif terhadap indeks harga saham sektor pertanian, sedangkan variabel lainnya memiliki pengaruh positif. Hasil penelitian ini diharapkan mampu memberikan informasi ke penggiat saham dan pemerintah, agar tidak terjadi kerugian yang besar di periode-periode selanjutnya.

scholarly journals Macro-Financial Parameters Influencing Bitcoin Prices: Evidence from Symmetric and Asymmetric ARDL Models

2021 ◽  
Vol 13 (3) ◽  
Author(s):  
Srinivasan Palamalai ◽  
Bipasha Maity ◽  
Krishna Kumar
Keyword(s):  
Structural Breaks ◽  
Investment Risk ◽  
Financial Indicators ◽  
Federal Funds ◽  
Federal Funds Rate ◽  
Market Participants ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
The Impact

Bitcoins are evolving as a modern class of investment assets and it is crucial for investors to manage their investment risk. This paper examines the impact of macroeconomic-financial indicators on Bitcoin price using symmetric and asymmetric version of autoregressive distributed lag (ARDL) models with structural breaks. The asymmetric long-run association ascertained between Bitcoin prices and the macroeconomic-financial indicators is evident. Our empirical results indicate that the Bitcoin cannot be used to hedge against the inflation, Federal funds rate, stock markets and commodity markets. We further find that Bitcoin can be regarded as a hedging device for the oil prices. Our findings have significant implications for market participants who consider including alternate investment assets in their portfolios.

scholarly journals The impacts of interest rate changes on US Midwest farmland values

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Albulena Basha ◽  
Wendong Zhang ◽  
Chad Hart
Keyword(s):  
Interest Rate ◽  
Great Plains ◽  
Federal Reserve ◽  
State Level ◽  
Land Values ◽  
Federal Funds ◽  
Federal Funds Rate ◽  
Content Type ◽  
Distributed Lag ◽  
Farmland Values

PurposeThis paper quantifies the effects of recent Federal Reserve interest rate changes, specifically recent hikes and cuts in the federal funds rate since 2015, on Midwest farmland values.Design/methodology/approachThe authors apply three autoregressive distributed lag (ARDL) models to a panel data of state-level farmland values from 1963 to 2018 to estimate the dynamic effects of interest rate changes on the US farmland market. We focus on the I-states, Lakes states and Great Plains states. The models in the study capture both short-term and long-term impacts of policy changes on land values.FindingsThe authors find that changes in the federal funds rate have long-lasting impacts on farmland values, as it takes at least a decade for the full effects of an interest rate change to be capitalized in farmland values. The results show that the three recent federal funds rate cuts in 2019 were not sufficient to offset the downward pressures from the 2015–2018 interest rate hikes, but the 2020 cut is. The combined effect of the Federal Reserve's recent interest rate moves on farmland values will be positive for some time starting in 2022.Originality/valueThis paper provides the first empirical quantification of the immediate and long-run impacts of recent Federal Reserve interest rate moves on farmland values. The authors demonstrate the long-lasting repercussions of Federal Reserve's policy choices in the farmland market.

Macro-Economic Disequilibrium and Educational Development in Nigeria between 1980-2017

2019 ◽  
Vol 10 (08) ◽  
pp. 20592-21600
Author(s):  
Gbadebo Salako ◽  
Adejumo Musibau Ojo ◽  
Jaji Ayobami Francis
Keyword(s):  
Time Series Data ◽  
Educational Development ◽  
Negative Relationship ◽  
Series Data ◽  
Explanatory Variables ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Stationarity Test ◽  
Level I

This study empirically investigates the effects of macroeconomic disequilibrium on educational development in Nigeria. The study employed time series data between 1980 and 2017. Autoregressive Distributed Lag method of estimation was employed. The result revealed that the variables stationarity test were mixed between the first difference I(I) and level I(0). The cointegration result shows that there exist long run relationship between the variables. The result revealed that Balance of payment, Poverty, Debt rate inflation and unemployment exhibited negative relationship with educational development. The estimation result showed that all explanatory variables account for 88% variation of educational development in Nigeria. It is therefore recommended that government should fast track policies that can stabilize inflation and exchange rate in the country. Also, Policies must be formulated to reduce poverty and unemployment.

scholarly journals Investment Portfolio, Democratic Accountability, Poverty and Income Inequality Nexus in Pakistan: A Way to Social Sustainability

2021 ◽  
Vol 13 (11) ◽  
pp. 6411
Author(s):  
Muhammad Shahid Hassan ◽  
Haider Mahmood ◽  
Muhammad Ibrahim Saeed ◽  
Tarek Tawfik Yousef Alkhateeb ◽  
Noman Arshed ◽  
...  
Keyword(s):  
Income Inequality ◽  
Social Sustainability ◽  
Data Availability ◽  
Democratic Accountability ◽  
Investment Portfolio ◽  
Economic Activities ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Short Run

Institutions help to streamline the economic activity-related procedures, where government intervention might be involved. Institutions also play a significant role in social sustainability. The findings using the Autoregressive Distributed Lag approach to cointegration for the period from 1984–2019 reveal that investment portfolio and democratic accountability reduce poverty in Pakistan both in the long and short run. Moreover, democratic accountability helps to reduce income inequality, but the investment portfolio’s role is not significant. The literacy rate helps to reduce income inequality, and inflation increases poverty and income inequality. The remittances increase income inequality, and urbanization increases poverty. To eradicate poverty and income inequality, the governments should be accountable for their actions to the general public while they remain in power. If they do not deliver as per their manifestoes, they will not be reelected in the next election. Moreover, there is a dire need to redefine the role of an investment portfolio to reduce the risk of investment. So, investments would increase economic activities and could reduce poverty and income inequality. This study contributes to the literature by inquiring about the role of the investment portfolio and democratic accountability in social sustainability by reducing poverty and income inequality. This study only considers Pakistan’s economy due to limitations of poverty data availability in other countries. The scope could further be broadened by accessing data for a wider Asia region to test the role of the investment portfolio and democratic accountability to reduce poverty and income inequality.

scholarly journals The Determinants of Tourist Expenditure Per Capita in Thailand: Potential Implications for Sustainable Tourism

2021 ◽  
Vol 13 (12) ◽  
pp. 6550
Author(s):  
Wanvilai Chulaphan ◽  
Jorge Fidel Barahona
Keyword(s):  
Natural Resources ◽  
Sustainable Tourism ◽  
Least Square ◽  
Mass Tourism ◽  
Tourist Destinations ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Autoregressive Distributed Lag ◽  
Lag Model ◽  
Per Capita

Tourism authorities in Thailand have consistently pursued profit-seeking mass tourism, resulting in the detriment of the natural resources in major tourist destinations. In response, sustainable tourism projects centered on preserving the environment have been established but neglect the financial needs of tour operators. The objective of this study was to investigate the determinants of tourist expenditure per capita in Thailand using a dataset consisting of 31 countries from 2010 to 2017. The analysis was based on an autoregressive distributed lag model (ARDL) and used a panel estimated generalized least square (ELGS). Generating such knowledge is essential for tourist authorities to develop profitable and sustainable tourism projects in tourist destinations whose natural resources have been affected by profit-seeking tourism. The tourism expenditure per capita is positively affected by word of mouth, income, and the rising prices in other major tourist destinations in Asia. However, it was negatively affected by relative levels of price and corruption. Sustainable tourism projects can be used to develop activities that will help distinguish Thailand from other tourism destinations in Asia. However, in implementing these sustainable tourism initiatives, the mark-up should be minimized to keep tourist prices in Thailand competitive.

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