The paper analyzes the monetary policy behavior by developing a long-run structural macroeconometric model; the Structural Cointegrating Vector Autoregression. The model is empirically proposed by Garratt et. al. (1998 and 1999) and adopted to suit the indonesian case.The result shows that the model perform well in explaining the monetary policy behavior in Indonesia. However, due to the limitation of data, and a re-orientation of monetary policy, we should carefully examine and interpreting the magnitude of parameters used on the model.Keywords: Kebijakan Moneter di Indonesia, Model Makro Struktural Jangka Panjang, Structural Cointegration Vector Autoregression (VAR).JEL Classification: C32, C51, E52, E58
M. Juhro, Solikin
"ANALISIS KEBIJAKAN MONETER DALAM MODEL MAKROEKONOMETRIK STRUKTURAL JANGKA PANJANG: STRUCTURAL COINTEGRATING VECTOR AUTOREGRESSION,"
Bulletin of Monetary Economics and Banking: Vol. 8:
2, Article 2.
Available at: https://bulletin.bmeb-bi.org/bmeb/vol8/iss2/2