Analysis of Factors Affecting Interest Rates, Money Supply, Exchange Rates, Government Expenditures, Government Revenues, and Tax Revenues on Inflation 1992-2022

Bagas Perwito Wibowo, Eni Setyowati

Abstract


This study aims to analyze the effect of government revenue, money supply, Government Expenditures, tax revenue, exchange rates, and interest rates on inflation in Indonesia from 1992-2022. This study used time series data with the EG-ECM method which was processed using eviews 10 software. The results showed that the exchange rate and interest rates had a positive and significant effect on inflation. Based on the simultaneous test, all independent variables, simultaneously have a significant effect on the dependent variable on inflation. Adjusted R2 value of 23.90714 and 69.39378 in the long term and short term indicates that the variation of the independent variable amounted to 82.04% and 94.28%, while the remaining was explained by other variables outside the variables studied. That all variables have a significant Effect on inflation as well as a positive Effect on inflation.

Keywords


Inflation, Exchange Rate, Interest Rate, EG-ECM (Engle-Granger Error Correction Model)

Full Text:

PDF

References


Agus, TB., & Prawoto, N. (2017). Analisis Regresi Dalam Penelitian Ekonomi & Bisnis : Dilengkapi Aplikasi SPSS & EVIEWS. PT Rajagrafindo Persada. Depok.

Feronika, E. (2020). Pengaruh inflasi terhadap pertumbahan ekonomi di Indonesia. Journal of Management, 13(3), 327340.

Budiman, PA. (2021). Analisi ECM PDB, KURS dan Jumlah Uang Beredar terhadap Inflasi. Jurnal Kajian Ekonomi Dan Kebijakan Publik, 6(2), 112.

Uminiati, G. (2020). Pengaruh Pendapatan Per Kapita, Tingkat Inflasi, dan Pertumbuhan Ekonomi Terhadap Penerimaan Pajak Daerah Pada Kota Bandung Periode 2011-2018. Sekolah Tinggi Ilmu Ekonomi Ekuitas Bandung (STIE Ekuitas), Bandung.

Rando, SS., Rotinsulu, D., & Rorong, IPF. (2021). Analisis factor-faktor penentu inflasi di Indonesia. Jurnal Pembangunan Ekonomi Dan Keuangan Daerah, 22(1), 118.

Susmiati, Giri, NPR., & Senimantara, N. (2021). Pengaruh Jumlah Uang Beredar dan Nilai Tukar Rupiah (Kurs) Terhadap Tingkat Inflasi di Indonesia Tahun 2011-2018. Warmadewa Economic Development Journal, 4(2), 6874.

Sukirno, S. (2015). Pengangguran, Inflasi, dan kebijakan pemerintah. Dalam Makroekonomi Teori Pengantar. Edisi 3. PT Raja Grafindo Persada. Jakarta.

Badan Pusat Statistik. (2022). Inflasi (Umum), 1979-2019. Januari. BPS Pusat. Jakarta.

Badan Pusat Statistik. (2022). Realisasi Pengeluaran Pemerintah dalam keuangan. BPS Pusat. Jakarta.

Badan Pusat Statistik. (2022). Jumlah Uang Beredar, 1992-2022. September. BPS Pusat. Jakarta.

Badan Pusat Statistik. (2022). Realisasi Pendapatan Pemerintah. BPS Pusat. Jakarta.

Bank Indonesia. (2022). Laporan Bulanan kebijakan moneter. Desember. BI. Jakarta

Sofyan, H., Maulia, E., & Miftahuddin. (2017). Structure analysis of tax revenue and inflation rate in Banda Aceh using vector error correction model with multiple alpha. AIP Conference Proceedings.

Siagian, D. L., Yusuf, M., & Fitrawaty. (2018). The determinants of inflation in North Sumatra error correction model. Proceedings of the 1st Unimed International Conference on Economics Education and Social Science.

Farizqiyah, S., & Yuliana, I. (2022). Analyzing Indonesias Inflation in 1998-2020: Error Correction Model Approach. Indonesia Journal of Multidisciplinary.

Basorudin, M., Maharani, AF., Ramadhan, F., & Ronaldo, S. (2019). Analisis Faktor Determinan yang mempengaruhi tingkat Inflasi di Indonesia dengan Error Correction Mechanism. Jurnal Penelitian Ekonomi Dan Bisnis, 4(2), 120131.

Sari, W. N., Setyowati, E., Putri, S. M., & Faridatussalam, S. R. (2022). Analysis of the effect of interest rates, exchange rate inflation and foreign investment (PMA) on economic growth in Indonesia in 1986-2020. Proceedings of the International Conference on Economics and Business Studies (ICOEBS 2022).

Khomariyah, R. N., Setyowati, E., & Utomo, Y. P. (2022). Analysis of the effect of inflation, interest rate, exchange rate, and national income on financial deepening in Indonesia from 2000 to 2020. Proceedings of the International Conference on Economics and Business Studies (ICOEBS 2022).

Hendik, K. M., & Setyowati, E. (2022). Analysis The Effect Of Credit Interest Rates, Gross Domestic Product, And Inflation On Domestic Investment In Indonesia In 2000 2021. International Journal of Islamic Economics, 4(01).

Sinambela, T., & Rahmawati, S. (2019). Pengaruh Inflasi, Nilai Tukar Rupiah Dan Jumlah Pengusaha Kena Pajak Terhadap PenerimaanPajak Pertambahan Nilai. Ekuivalensi Jurnal Ekonomi Bi Snis, 5(1).

Junianto, S., Harimurti, F., & Suharno, S. (2020). Pengaruh inflasi, Nilai Tukar Rupiah, Suku Bunga Dan self assessment system TERHADAP Penerimaan pajak Pertambahan Nilai di kantor Wilayah Direktorat jendral pajak Jawa Tengah II. Jurnal Akuntansi Dan Sistem Teknologi Informasi, 16(3), 311321.

Agusmianata, N., Militina, T., & Lestari, D. (2018). Pengaruh Jumlah Uang Beredar Dan Tingkat Suku Bunga serta pengeluaran pemerintah Terhadap Inflasi di Indonesia. FORUM EKONOMI, 19(2), 188.

Agustina, DP. (2021). Analisis Pengaruh Tingkat Kurs Dan Suku Bunga bank Indonesia Dengan Jumlah Uang beredar, TERHADAP tingkat inflasi di Indonesia. Develop: Jurnal Ekonomi Pembangunan, 2(1), 3346.

Sriwahyuni, A., Nainggolan, P., & Sinura, A. (2020). Pengaruh Jumlah Uang beredar, Suku Bunga Dan Nilai Tukar Terhadap Inflasi di Sumatera Utara.

Purnomo, D. (2017). Kausalitas Suku Bunga Domestik Dengan Tingkat Inflasi di Indonesia. Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi Dan Pembangunan, 5(1), 50.

Yanti, Y. W., & Soebagyo, D. (2022). Analisis Pengaruh Jub, Suku Bunga, Dan Nilai Tukar Terhadap inflasi di Indonesia tahun 2005-2021. Jurnal Ekonomi Pembangunan STIE Muhammadiyah Palopo, 8(2), 249.

Bina, A., Rahmadana, M., & Yusuf, M. (2023). The analysis of factors affecting inflation in Indonesia. Proceedings of the 4th International Conference on Science and Technology Applications, ICoSTA 2022, 1-2 November 2022, Medan, North Sumatera Province, Indonesia.

Faizin, M. (2020). Analisis hubungan kurs terhadap inflasi. Akuntabel, 17(2), 314319.




DOI: https://doi.org/10.30596/miceb.v1i0.297

Refbacks

  • There are currently no refbacks.