ANALISIS TRANSMISI KEBIJAKAN MONETER GANDA TERHADAP INFLASI DI INDONESIA

Abstract

This research aims to examines the impact of monetary policy transmission through conventional and islamic systems to inflation in Indonesia.The approach used is quantitative approach by using Cointegration Test. The result of this research is that a long-term of conventional monetary policy transmissions has an effect on inflation rate in Indonesia which are SBI has a positive and significant effect on inflation. Then, PUAB has a negative and significant effect on inflation. While, variable of conventional money supply does not have an effect on inflation rate. From the islamic side, the result of this research is that a long-term of sharia monetary policy transmissions has an effect on inflation rate in Indonesia which are SBIS has a negative and significant effect on inflation. While, PUAS has a positive and significant effect on inflation. And variable of sharia money supply does not have an effect on inflation