Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/296770 
Year of Publication: 
2023
Series/Report no.: 
ADBI Working Paper No. 1375
Publisher: 
Asian Development Bank Institute (ADBI), Tokyo
Abstract: 
This study analyzes the magnitude of the US monetary policy spillover on the Indonesian local currency government bond yield, particularly when the Federal Reserve (Fed) implemented the quantitative easing (QE), tapering off, Fed fund rate (FFR) normalization, and quantitative tightening over the past decades. Understanding the global economic dynamics, such as changes in US monetary policy, can be a critical policy input to mitigate risks in the Indonesian economy, particularly in anticipating the monetary normalization policy amidst COVID-19 uncertainty. Changes in US monetary policy in the form of tapering off, increasing the FFR, and quantitative tightening as an external phenomenon that can affect the yield of Indonesian local currency government bonds. [...]
Subjects: 
bond yield
federal fund rate
US monetary policy
tapering
quantitative tightening
JEL: 
E50
E52
F40
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.