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Abstract

Bank Indonesia uses a method known as Inflation Targeting Fraemwork (ITF) in implementing monetary policy. ITF allows BI to explicitly announce its inflation target in order to increase the transparency and accountability of monetary policy. This gives the public a clear picture of how the monetary authority sets its policy. This study aims to analyze the effectiveness of the ITF in controlling inflation, as well as the influence of other determinants such as money supply, exchange rate, and fiscal deficit on inflation. The study uses time series data for the period 2005-2022. Multiple regression analysis was performed using Eviews 12 software. The results of this study indicate that the establishment of ITF in Indonesia has been effective from 2005 to 2022. The results of data processing Partially the exchange rate has a significant positive effect, JUB has a significant negative effect on inflation, while the budget deficit has no effect on inflation. At the same time, the variables of exchange rate, money supply and budget deficit have a significant effect on inflation in Indonesia.


Keywords :  Inflation1, Inflation Targeting Framework2, Exchange Rate3, JUB4, Deficit Budget5


 


Abstrak


Bank Indonesia dalam melaksanakan kebijakan moneter menggunakan metode yang dikenal sebagai Inflation Targeting Fraemwork (ITF). ITF memungkinkan BI untuk mengumumkan secara eksplisit target inflasi, guna meningkatkan transparansi dan akuntabilitas kebijakan moneter. Hal ini memberikan gambaran jelas kepada masyarakat tentang bagaimana otoritas moneter menetapkan kebijakannya. kajian ini memiliki tujuan untuk menganalisis efektifitas ITF dalam mengendalikan inflasi serta menganalisis pengaruh determinan lain seperti jumlah uang beredar, nilai tukar, dan defisit anggaran terhadap inflasi. Data time series digunakan dalam penelitian selama periode tahun 2005-2022. Perangkat lunak Eviews 12 digunakan untuk melakukan analisis regresi berganda. Temuan dari penelitian ini mengindikasikan penetapan ITF di Indonesia telah berjalan efektif sejak tahun 2005 hingga 2022. Hasil olah data Secara parsial nilai tukar memiliki pengaruh positif signifikan, JUB berpengaruh negatif siginifikan terhadap inflasi sedangkan defisit anggaran tidak berpengaruh terhadap inflasi. hasil secara simultan, variabel nilai tukar, jumlah uang beredar dan defisit anggaran berpengaruh signifikan terhadap inflasi di Indonesia.


Kata Kunci :  Inflasi1, Inflation Targeting Framework2, Kurs3, JUB4, Defisit Anggaran5

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Copyright (c) 2023 Risna Amalia Hamzah

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How to Cite
Hamzah, R. A., Hayati, J., & Yuliani, N. M. (2023). Efektivitas Penerapan Inflation Targeting Framework (ITF) Terhadap Tingkat Inflasi Di Indonesia. Convergence: The Journal of Economic Development, 5(2), 147–167. https://doi.org/10.33369/convergencejep.v5i2.31262 (Original work published December 31, 2023)
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