Impact of Monetary Instrument Shock Against Inflation in North Sumatra: Two-Stage Least Square Method

Proceedings of the Proceedings of the 1st International Conference on Economics, Management, Accounting and Business, ICEMAB 2018, 8-9 October 2018, Medan, North Sumatra, Indonesia Pub Date : 2019-11-07 DOI:10.4108/eai.8-10-2018.2289252

Nelly Hutajulu, Fitrawaty Fitrawaty, M. Rahmadana

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Abstract

The study explores the relationship among inflation and economic growth in North Sumatra. Two-Stage Least Square (2SLS) technique is used to analyze the impact of monetary instrument shock against inflation the period of 1994-2017. The result of research concludes that economic growth effect significantly to inflation in North Sumatra and positive direction. The amount of money in circulation, the money supply previous period a significant and negative effect against inflation in North Sumatra. interest rate of Bank Indonesia, unemployment is a significant and positive effect against inflation in North Sumatra. Inflation has no effect on against the economic growth of North Sumatra. The amount of money in circulation, a significant and positive effect toward economic growth in North Sumatra. While the money supply previous period does not affect economic growth in North Sumatra.

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北苏门答腊货币工具冲击对通货膨胀的影响:两阶段最小二乘法

该研究探讨了北苏门答腊岛通货膨胀与经济增长之间的关系。采用两阶段最小二乘(2SLS)技术分析了1994-2017年期间货币工具冲击对通货膨胀的影响。研究结果表明，经济增长对北苏门答腊省通货膨胀有显著的正向影响。货币流通量、货币供应量在前一时期对北苏门答腊的通货膨胀有显著的负面影响。根据印度尼西亚银行的利率，失业对北苏门答腊的通货膨胀有显著的积极影响。通货膨胀对北苏门答腊的经济增长没有影响。流通的货币数量，对北苏门答腊岛的经济增长有显著而积极的影响。而此前的货币供应并未影响北苏门答腊的经济增长。

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Proceedings of the Proceedings of the 1st International Conference on Economics, Management, Accounting and Business, ICEMAB 2018, 8-9 October 2018, Medan, North Sumatra, Indonesia

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