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Towards Improved Monetary Policy in Indonesia: A comment

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De Brouwer, Gordon

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This comment argues that inflation-focused policy is appropriate for Indonesia but that it should be directed at underlying inflation over the medium term. It contends that McLeod's monetarist explanation of inflation in Indonesia is unsatisfactory in theory and is not consistent with the evidence: traded goods prices rose before, and substantially more than, non-traded goods prices during the crisis of 1997-98, which is not consistent with the monetarist view that inflation was caused by...[Show more]

dc.contributor.authorDe Brouwer, Gordon
dc.date.accessioned2015-12-13T22:27:50Z
dc.date.available2015-12-13T22:27:50Z
dc.identifier.issn0007-4918
dc.identifier.urihttp://hdl.handle.net/1885/74123
dc.description.abstractThis comment argues that inflation-focused policy is appropriate for Indonesia but that it should be directed at underlying inflation over the medium term. It contends that McLeod's monetarist explanation of inflation in Indonesia is unsatisfactory in theory and is not consistent with the evidence: traded goods prices rose before, and substantially more than, non-traded goods prices during the crisis of 1997-98, which is not consistent with the monetarist view that inflation was caused by excessive base money growth.
dc.publisherRoutledge, Taylor & Francis Group
dc.sourceBulletin of Indonesian Economic Studies
dc.subjectKeywords: capital market; inflation; monetary policy; price dynamics; Asia; Eurasia; Indonesia; Southeast Asia
dc.titleTowards Improved Monetary Policy in Indonesia: A comment
dc.typeJournal article
local.description.notesImported from ARIES
local.description.refereedYes
local.identifier.citationvolume39
dc.date.issued2003
local.identifier.absfor140212 - Macroeconomics (incl. Monetary and Fiscal Theory)
local.identifier.ariespublicationMigratedxPub3975
local.type.statusPublished Version
local.contributor.affiliationDe Brouwer, Gordon, College of Asia and the Pacific, ANU
local.bibliographicCitation.issue3
local.bibliographicCitation.startpage325
local.bibliographicCitation.lastpage8
local.identifier.doi10.1080/0007491032000142773
dc.date.updated2015-12-11T08:35:03Z
local.identifier.scopusID2-s2.0-0348234836
CollectionsANU Research Publications

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