THE DYNAMIC OF INDONESI AMIC OF INDONESIA’S SECTORAL ECONOMIC CY ORAL ECONOMIC CYCLES

Monica Karina Anastasia (), Pahmi Utamaraja Ginting (), Risqia Fadhilah Syahrir (), Oki Hermansyah () and Muhamad Shiroth ()
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Monica Karina Anastasia: Bank Indonesia
Pahmi Utamaraja Ginting: Bank Indonesia
Risqia Fadhilah Syahrir: Bank Indonesia
Oki Hermansyah: Bank Indonesia
Muhamad Shiroth: Bank Indonesia

Bulletin of Monetary Economics and Banking, 2023, vol. 26, issue 2, 361-394

Abstract: The purpose of this study is to observe the dynamics of Indonesia’s economic cycles for six main sectors. In constructing the cycles, we use quarterly Gross Domestic Product (GDP) for six Indonesian sectors over the period 2000-2021. We obtain the economic cycles for each of the six sectors using the Hodrick-Prescott filter and the ChristianoFitzgerald filter techniques. We find evidence that five of six sectors have relatively strong correlation with the aggregate GDP growth cycle. Additionally, by using the concordance index, we further conclude that three sectors are pro-cyclical with the aggregate GDP growth cycle.

Keywords: Sectoral cycles; Cross-correlation; Policy response; Event-analysis; Cycleidentification filter (search for similar items in EconPapers)
JEL-codes: E30 E32 E61 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:idn:journl:v:26:y:2023:i:2g:p:361-394

DOI: 10.59091/1410-8046.2068

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