MODEL SYNTHESA KEYNES-MONETERIS TERHADAP NERACA PEMBAYARAN INDONESIA (KEYNES-MONETARY SYNTHESIS MODEL OF INDONESIA'S BALANCE OF PAYMENTS)
MODEL SYNTHESA KEYNES-MONETERIS TERHADAP NERACA PEMBAYARAN INDONESIA (KEYNES-MONETARY SYNTHESIS MODEL OF INDONESIA'S BALANCE OF PAYMENTS)
Abstract
The study of Keynesian syntheses - Monetarism on Indonesia's Balance of Payments which combines the goods market and money market approaches to Indonesia's economy, with the use of time series data from 2000 to 2017. The results showed that based on the monetarist approach to the balance of payments it was found that the effect of the money multiplier on the international balance of payments whose magnitude was strongly influenced by the size of the High Powered Money or monetary base, which negatively affected the international balance of payments, as well as the Asset Domestic Net have a positive effect on the international balance of payments In the Keynesian model of the international balance of payments it was found that government expenditure and world income and domestic prices negatively affected Indonesia's balance of payments. Based on the Keynesian-Monetary syntheses approach to the balance of payments, it was found that government expenditure and domestic prices negatively affected the international balance of payments, the higher the level of government expenditure and the domestic price level that would reduce international reserves, while the increase in foreign income in this case increases US GDP will increase Indonesia's international reserves.
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