Determinants of Indonesia's income velocity of money

Sharma, Susan and Syarifuddin, F 2019, Determinants of Indonesia's income velocity of money, Buletin Ekonomi Moneter dan Perbankan, vol. 21, no. 3, pp. 323-342, doi: 10.21098/BEMP.V21I3.1006.

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Title Determinants of Indonesia's income velocity of money
Author(s) Sharma, SusanORCID iD for Sharma, Susan
Syarifuddin, F
Journal name Buletin Ekonomi Moneter dan Perbankan
Volume number 21
Issue number 3
Start page 323
End page 342
Total pages 20
Publisher Bank Indonesia, Central Banking Research Department
Place of publication Jakarta, Indonesia
Publication date 2019
ISSN 1410-8046
Summary Using monthly time-series data and both short- and long-run models, our paper examines the determinants of Indonesia’s income velocity of money. Our findings strongly suggest that in the long-run, tax revenue, short-term interest rates, and industrial production, and in the short-run, money demand significantly determines income velocity of money. Our analysis suggests that the effect on income velocity is mostly over the long-run as most determinants are dormant in the short-run. The implication from a policy perspective is that shocks that are transitory are unlikely to burden income velocity.
Language eng
DOI 10.21098/BEMP.V21I3.1006
HERDC Research category C1.1 Refereed article in a scholarly journal
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Document type: Journal Article
Collections: Faculty of Business and Law
Department of Finance
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