{"title":"东盟经济共同体面临的货币一体化挑战：汇率对印度尼西亚通货膨胀的作用","authors":"Heru Rahadyan, Alexander Lubis","doi":"10.1504/IJSTM.2018.10014966","DOIUrl":null,"url":null,"abstract":"The implementation of the ASEAN Economic Community (AEC) in 2015 required some form of monetary integration, such as exchange rate management. This paper investigates the role of the exchange rate on the inflation rate in Indonesia. Using the monthly data series from 1970 to 2015, we find that the nominal exchange rate affects the inflation rate at a low transmission speed rate. However, the exchange rate volatility and depreciation threshold may accelerate the speed of the exchange rate's transmission to inflation. Thus, studies with short-lagged variables, or studies in different periods may lead to different findings, as shocks and changes in exchange regimes occur regularly in Indonesia. These findings are important as they imply that Indonesia may fail to reach the aims of the AEC if it fails to coordinate its exchange rate policy with the rest of the AEC.","PeriodicalId":44853,"journal":{"name":"International Journal of Services Technology and Management","volume":"24 1","pages":"463"},"PeriodicalIF":0.6000,"publicationDate":"2018-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"Monetary integration in the ASEAN Economic Community challenge: the role of the exchange rate on inflation in Indonesia\",\"authors\":\"Heru Rahadyan, Alexander Lubis\",\"doi\":\"10.1504/IJSTM.2018.10014966\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The implementation of the ASEAN Economic Community (AEC) in 2015 required some form of monetary integration, such as exchange rate management. This paper investigates the role of the exchange rate on the inflation rate in Indonesia. Using the monthly data series from 1970 to 2015, we find that the nominal exchange rate affects the inflation rate at a low transmission speed rate. However, the exchange rate volatility and depreciation threshold may accelerate the speed of the exchange rate's transmission to inflation. Thus, studies with short-lagged variables, or studies in different periods may lead to different findings, as shocks and changes in exchange regimes occur regularly in Indonesia. These findings are important as they imply that Indonesia may fail to reach the aims of the AEC if it fails to coordinate its exchange rate policy with the rest of the AEC.\",\"PeriodicalId\":44853,\"journal\":{\"name\":\"International Journal of Services Technology and Management\",\"volume\":\"24 1\",\"pages\":\"463\"},\"PeriodicalIF\":0.6000,\"publicationDate\":\"2018-09-05\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Journal of Services Technology and Management\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1504/IJSTM.2018.10014966\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q4\",\"JCRName\":\"MANAGEMENT\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Services Technology and Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1504/IJSTM.2018.10014966","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"MANAGEMENT","Score":null,"Total":0}
Monetary integration in the ASEAN Economic Community challenge: the role of the exchange rate on inflation in Indonesia
The implementation of the ASEAN Economic Community (AEC) in 2015 required some form of monetary integration, such as exchange rate management. This paper investigates the role of the exchange rate on the inflation rate in Indonesia. Using the monthly data series from 1970 to 2015, we find that the nominal exchange rate affects the inflation rate at a low transmission speed rate. However, the exchange rate volatility and depreciation threshold may accelerate the speed of the exchange rate's transmission to inflation. Thus, studies with short-lagged variables, or studies in different periods may lead to different findings, as shocks and changes in exchange regimes occur regularly in Indonesia. These findings are important as they imply that Indonesia may fail to reach the aims of the AEC if it fails to coordinate its exchange rate policy with the rest of the AEC.
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IJSTM addresses services innovation, services technologies and management, as well as the role of the supply chain, logistics and other related topics. Services cover a wide range of operations and functions, such as human aspects of healthcare, and technological aspects of public services design and management, as well as services provided by the manufacturing sector, information services and the associated cultural, ethical, legal and political aspects; electronic commerce; globalisation in services; and market innovations in services etc. Topics covered include: -Services technology, management and technology management: policy, strategic and operational issues -Services and innovation- Information technology and communication in services, e-commerce- Supply chain management- New developments in marketing and retailing- Human resources and development in services- Customer care- TQM, services quality- Distribution and logistics- Ecologically driven services- Economics of services- Services in society, ethics and culture- Technology related to tourism services and transport- Technology serving scientific research and high-tech industry- Medical, recreational and health tourism
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