Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/298985 
Year of Publication: 
2020
Citation: 
[Journal:] Journal of Central Banking Theory and Practice [ISSN:] 2336-9205 [Volume:] 9 [Issue:] S1 [Year:] 2020 [Pages:] 215-235
Publisher: 
Sciendo, Warsaw
Abstract: 
This study investigates the determinants of Indonesian's business cycle using the global vector autoregressive (GVAR) approach, by including spillover responses within 33 countries with 2000 bootstrap replications. The results show that Indonesia's business cycle is influenced by both domestic and external factors. In addition to exogenous shocks from output, the dominant domestic factors are monetary policy and price competitiveness. The dominant external factors are global economic activity and liquidity conditions, particularly those originating from the Chinese economy. Spillovers from a number of economies appear to shape Indonesia's economic fluctuations. The paper discusses such relevant spillovers.
Subjects: 
Business cycle
Trade relations
Global vector autogressive approach
JEL: 
E32
F44
E30
C22
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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