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WERE AGGREGATE DEMAND SHOCKS IMPORTANT IN EXPLAINING INDONESIAN MACROECONOMIC FLUCTUATIONS?

This paper assesses the importance of aggregate demand shocks in the Indonesian macroeconomy using a variant of the Mundell-Fleming model analysed with the structural VAR methodology. Short-run relations are identified with contemporaneous restrictions, whereas long-run relations are embedded in a l...

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Publicado en:Journal of the Asia Pacific Economy Vol. 7; no. 1; pp. 35 - 61
Autores principales: Siregar, Hermanto, Ward, Bert D.
Formato: Artículo
Publicado: Taylor & Francis Ltd Feb2002
Materias:
Supply & demand
Macroeconomics
Acceso en línea:Ver este registro en EBSCOhost
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      dt: Feb2002
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      pub: Taylor & Francis Ltd
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        10.1080/13547860120110461
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        atl: WERE AGGREGATE DEMAND SHOCKS IMPORTANT IN EXPLAINING INDONESIAN MACROECONOMIC FLUCTUATIONS?
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        au:
          Siregar, Hermanto
          Ward, Bert D.
      su:
        Supply & demand
        Macroeconomics
      sug:
        subj:
          Supply & demand
          Macroeconomics
      keyword:
        AGGREGATE DEMAND SHOCKS
        AGGREGATE SUPPLY SHOCKS
        MACROECONOMIC FLUCTUATIONS
        MUNDELL-FLEMING MODEL
        SVAR MODEL
        AGGREGATE DEMAND SHOCKS
        AGGREGATE SUPPLY SHOCKS
        MACROECONOMIC FLUCTUATIONS
        MUNDELL-FLEMING MODEL
        SVAR MODEL
      ab: This paper assesses the importance of aggregate demand shocks in the Indonesian macroeconomy using a variant of the Mundell-Fleming model analysed with the structural VAR methodology. Short-run relations are identified with contemporaneous restrictions, whereas long-run relations are embedded in a long-run money demand equation and a policy reaction function. Estimation results are generally plausible and consistent with small open economy theory. Results from the model provide empirical evidence on the relative importance of aggregate demand shocks over aggregate supply shocks in affecting macroeconomic fluctuations. The implication of this finding on monetary and fiscal policies is formulated.
      pubtype: Academic Journal
      doctype: Article
      src: R
    language: English
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