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<![CDATA[Cover, Vol. 7(2), 2018 ]]>
<![CDATA[Jurnal Signifikan]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 7, No 2 (2018) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v7i2.7549
<![CDATA[Financial Inclusion and Demand for Money: a Dynamic Panel Data Approach ]]>
<![CDATA[Zelin Nurfadia Sidik]]>;
<![CDATA[Noer Azam Achsani]]>;
<![CDATA[Syamsul Hidayat Pasaribu]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 7, No 2 (2018) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v7i2.6838
<![CDATA[Financial inclusion is designed to increase the opportunities and society participation in the formal financial institution, especially for unbanked people. Moreover, financial inclusion is one of strategy inclusive economic growth. However, financial inclusion may lead an ineffectiveness of monetary policy. It is because financial inclusion can affect the sensitivity of interest rate, and it could cause instability demand for money. Therefore, the research aims to analyze the impact of financial inclusion on demand for money, reserve money (M0), in 36 countries for the period 2004 to 2014. The method that used is Dynamic Panel Approach. The result shows that financial inclusion stimulates the increase of demand for reserve money (M0) in developed countries. In the other hand, the increasing of financial inclusion could decrease the demand for reserve money (M0) in developing countries.DOI: 10.15408/sjie.v7i2.6838]]>
<![CDATA[Redenomination Policy and Economic Performance: Experimental and Historical Approach ]]>
<![CDATA[Falikhakh Nur Baeti]]>;
<![CDATA[Bambang Juanda]]>;
<![CDATA[Alla Asmara]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 7, No 2 (2018) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v7i2.6568
<![CDATA[The discourse of redenomination policy has existed since 2010. This research analyzes impact of economic growth, type of goods, transitions period and redenomination stages towards economic performance which measured from the change in the price of transactions and the number of transactions. This research used primary data and secondary data; the primary data was collected through experimental economy. The percentage of the change in price of transactions after redenomination in low economic growth condition showed an increase, while in high economic growth condition showed a decrease. Secondary data was gathered to analyze the deciding factor in the success of redenomination through logistic analysis method. The result showed that the variable of economic growth, unemployment rate and the level of democratization in a country affect the success of the implementation of redenominationDOI:10.15408/sjie.v7i2.6568]]>
<![CDATA[Smoking Behavior and Human Capital Investment: Evidence from Indonesian Household ]]>
<![CDATA[Albertus Girik Allo]]>;
<![CDATA[Ni Made Sukartini]]>;
<![CDATA[Endah Saptutyningsih]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 7, No 2 (2018) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v7i2.5793
<![CDATA[This study aims at estimating the difference health and education performance between children with exposure to smoke and those who are not at home. An environment with the extreme smoke condition has adverse health effects. This study utilizes longitudinal data namely Indonesia Family Life Survey period 2007 and 2014 (IFLS4 and IFLS5). We use the Propensity Score Matching (PSM) method and the Average Treatment Effect on Treated (ATT). The health indicator is proxied by body mass index (BMI) and educational achievement proxied with children cognitive ability. The results show that children who grow in a household with active smoker tend to have lower health status and educational attainment compare to children who are not. This study recommends public policy for banning smoking in public areas as well as inside building such as house and office in Indonesia.DOI: 10.15408/sjie.v7i2.5793]]>
<![CDATA[The Sensitivity of Residential Electricity Demand in Indonesia ]]>
<![CDATA[Stranti Nastiti Kusumaningrum]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 7, No 2 (2018) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v7i2.6048
<![CDATA[Since 2013, the residential electricity price for High VA (Volt-Ampere) households has changed due to changes in pricing policies. This paper analyzes the responsiveness of residential electricity demand to the change in electricity prices and income among two different household groups (Low VA and High VA) in 2011 and 2014. Using an electricity consumption model and the Quantile Regression method, the results show that residential electricity demand is price and income inelastic. Income elasticity is lower than price elasticity. Furthermore, the effects on price elasticity also found in the Low VA group, whose rate remained stable. At the same time, evidence proves the impact of the change in pricing policy on income elasticity remains unclear. This result implies that the government has to be more careful in regulating electricity prices for the low VA group, while maintaining economic stability.DOI: 10.15408/sjie.v7i2.6048]]>
<![CDATA[Monetary Policy and Financial Asset Prices: Empirical Evidence from Pakistan ]]>
<![CDATA[Imran Umer Chhapra]]>;
<![CDATA[Muhammad Usama Ali]]>;
<![CDATA[Syeda Fizza Zehra]]>;
<![CDATA[Falak Naz]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 7, No 2 (2018) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v7i2.7099
<![CDATA[Monetary transmission mechanism assumed to be significantly influenced by the effect of policy decisions on financial markets. However, various previous studies have come up with different outcomes. The purpose of this study is to examine the impact of monetary policy on different asset classes (shares and bonds) in Pakistan. This study using stock price and bond yield as dependent variable and discount rate, money supply, inflation, and exchange rate are independent variables. Data of all variables have collected from 2010 to 2016, and Vector Autoregressive (VAR) technique has applied. The empirical results indicate that there is an impact of monetary policy components on both stock and bond market as an increase in policy rate causes decline in stocks prices and bonds yields. The findings of this study will help the potential investors in making long-term (in general) and short-term (in particular) investment strategies concerning monetary policy.DOI: 10.15408/sjie.v7i2.7099]]>
<![CDATA[Assessing Volatilities of Monetary Policy and their Effects on the Islamic and Conventional Stock Markets in Indonesia ]]>
<![CDATA[M Shabri Abd Majid]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 7, No 2 (2018) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v7i2.7352
<![CDATA[The main objective of this study is to empirically assess the volatilities of the monetary policy instruments and their effects on the Indonesian Islamic and conventional stock market. The changes in exchange rate, interest rates, and money supply and their effects on the stock markets are investigated using the using the Generalized Autoregressive Conditional Heteroskedasticity frameworks. As a big-open economy, the capital market of Indonesia is vulnerable to the global monetary shocks changes, thus the US federal funds rate is also incorporated into the GARCH model. The study documented that, with the exception of the US interest rate, the volatilities of all monetary policy variables of interest rate, exchange rate, and money supply were documented affecting the volatilities of both Islamic and conventional stock markets. These findings imply that the volatilities of Islamic and conventional stock markets have similar determinants, thus to stabilize the markets, the investigated monetary policy variables should be controlled for by the policy-makers. Any monetary policy design imposed by the policy-makers would have a similar effect on both conventional and Islamic stocks in Indonesia.DOI: 10.15408/sjie.v7i2.7352]]>
<![CDATA[The Effects of Minimum Wage Throughout the Wage Distribution in Indonesia ]]>
<![CDATA[Sri Gusvina Dewi]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 7, No 2 (2018) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v7i2.6125
<![CDATA[The global financial crisis in 2007 followed by Indonesia’s largest labor demonstration in 2013 encouraged turmoils on Indonesia labor market. This paper examines the effect of the minimum wage on wage distribution in 2007 and 2014 and how the minimum wage increases in 2014 affected the distribution of wage differences between 2007 and 2014. This study employs recentered influence function (RIF) regression method to estimate the wage function by using unconditional quantile regression. Furthermore, to measure the effect of the minimum wage increase in 2014 on the distribution of wage differences, it uses the Oaxaca–Blinder decomposition method. Using balanced panel data from the Indonesian Family Life Survey (IFLS), it found that the minimum wage mitigates wage disparity in 2007 and 2014. The minimum wage policy in 2014 leads to an increase in the wage difference between 2007 and 2014, with the largest wage difference being in the middle distribution.DOI: 10.15408/sjie.v7i2.6125]]>
<![CDATA[Tax Revenue and Economic Growth: A Study of Nigeria and Ghana ]]>
<![CDATA[Francis Chinedu Egbunike]]>;
<![CDATA[Ochuko Benedict Emudainohwo]]>;
<![CDATA[Ardi Gunardi]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 7, No 2 (2018) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v7i2.7341
<![CDATA[Tax revenue is frequently considered as an alternative form of sustainable financing within a stable and predictable fiscal environment to promote growth and enable governments to finance their social and infrastructural needs. The objective of the study is to examine the effect of tax revenue on economic growth of Nigeria and Ghana. The study used multiple regressions as tools of analysis. The study finds a positive impact of tax revenue on the gross domestic product of Nigeria and Ghana confirming prior studies. The study recommended among others that adequate measure to ensure that revenue generated from the tax is effectively utilized to develop and grow the economy.DOI: 10.15408/sjie.v7i2.7341]]>
<![CDATA[Back Matter, Vol. 7(2), 2018 ]]>
<![CDATA[Jurnal Signifikan]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 7, No 2 (2018) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v7i2.7548
<![CDATA[Back Matter, Vol. 7(2), 2018]]>
