Journal of Indonesian Economy and Business
Vol 20, No 2 (2005): April

UJI HIPOTESIS “JALAN-ACAK” DALAM FUNGSI KONSUMSI DI INDONESIA

Munawar Ismail (Universitas Brawijaya)
David Kalirge (Universitas Brawijaya)
Martanti Wahyurina (Universitas Brawijaya)

Article Info

Publish Date
30 Jun 2015

Abstract

This study is aimed at testing the random-walk hypothesis in the Indonesian economyconsumption function. If the random-walk exists then the consumption can not be predictedsistematicaly. The study found that there was no random-walk in the Indonesianconsumption function either under the assumption of constant interest rate or that ofvariable interest rate. Other finding is that both nominal interest rate and the rate ofinflation had significant effect on the consumption.Keywords: consumption, random-walk, rational expectation, life cycle-permanent income

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Journal Info
Journal of Indonesian Economy and Business
Website

Abbrev

Publisher

Universitas Gadjah Mada

Subject

Economics, Econometrics & Finance

Description

Journal of Indonesian Economy and Business (JIEB) is open access, peer-reviewed journal whose objectives is to publish original research papers related to the Indonesian economy and business issues. This journal is also dedicated to disseminating the published articles freely for international ...