Mail Reza Ananda Putra(1)
Mail Mahrus Lutfi Adi Kurniawan(2*)

(1) Universitas Ahmad Dahlan, Indonesia
(2) Universitas Ahmad Dahlan, Indonesia
(*) Corresponding Author
10.31002/rep.v6i1.3677| Abstract views : 0 | PDF views : 0


This study aims to analyze the response of demand for money to shocks in macroeconomic variables such as income, inflation and interest rates in Indonesia. The study used time-series data from 2008: Q1 - 2019; Q4 with SVAR approach. Based on the result there was a positive response from money demand to income shocks but a negative response to inflation and interest rate shocks. Income variable is volatile and contributes the most to money demand compared to inflation and interest rates.


demand for money; macroeconomic variables; SVAR

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DOI: http://dx.doi.org/10.31002/rep.v6i1.3677

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