Impact of Currency Redenomination on Inflation Case Study Turkey

Žídek, Libor; Chribik, Michal

doi:10.18488/journal.aefr/2015.5.6/102.6.908.914

Cited by 10 publications

(5 citation statements)

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“…Some researchers have done previous research on redenomination. Zidek and Michal (2015) had made the impact of redenomination in Turkey leads to a decrease in the inflation rate, but the redenomination process has some other effect, namely an increase in transactions, an increase in these transactions will also improve the accounting system. In addition, the psychological effects (perceptions) of society on this policy tend to be good.…”

Section: Resultsmentioning

confidence: 99%

Redenomination Policy and Economic Performance: Experimental and Historical Approach

2018

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The discourse of redenomination policy has existed since 2010. This research analyzes impact of economic growth, type of goods, transitions period and redenomination stages towards economic performance which measured from the change in the price of transactions and the number of transactions. This research used primary data and secondary data; the primary data was collected through experimental economy. The percentage of the change in price of transactions after redenomination in low economic growth condition showed an increase, while in high economic growth condition showed a decrease. Secondary data was gathered to analyze the deciding factor in the success of redenomination through logistic analysis method. The result showed that the variable of economic growth, unemployment rate and the level of democratization in a country affect the success of the implementation of redenominationDOI:10.15408/sjie.v7i2.6568

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Section: Resultsmentioning

confidence: 99%

Redenomination Policy and Economic Performance: Experimental and Historical Approach

2018

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“…Pada akhirnya redenominasi dalam kajian tulisan ini menunjukkan bahwa redenominasi telah siap dalam dalam hal regulasi. (Žídek & Chribik, 2015). Waktu ini adalah dimana inflasi ekspektasi inflasi suatu negara stabil dan rendah.…”

Section: Hasil Dan Pembahasanunclassified

Indonesia (Tidak) Siap Redenominasi (?)

Marjuni,

Setyawan,

Maryani

2023

jurnal-multididipliner-bharasa

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Redenominasi merupakan penyederhanaan nilai sebuah mata uang untuk mencapai tujuan tertentu dalam sebuah sistem perekonomian. Redenominasi secara administrasi hanyalah menyangkut teknis penulisan uang. Namun dalam impementasinya tidak sesederhana administrasi, mengingat berhubungan dengan perekonomian suatu negara. Perlu dilakukan langkah-langkah sebagai analisis kesiapan sebuah negara dalam melakukan redenominasi tersebut, mengingat sejarah mencatat beberapa negara gagal dalam melakukan redenominasi yang berakibat pada terjadinya inflasi. Tulisan ini dilakukan sebagai bagian dari upaya analisis kesiapan Indonesia dalam melakukan redenominasi. Tulisan ini menggunakan metode kepustakaan dalam pendekatannya. Hasil penelitian menunjukkan bahwa setidaknya diperlukan waktu minimal 8 (delapan) dalam implementasi redenominasi. Hal ini dengan mempertimbangkan fundamental ekonomi di antaranya obligasi, inflasi, dan laju pertumbuhan ekonomi. Jika hal ini diabaikan maka potensi dampak negatif justru dapat terjadi, dan akan mengulang catatan sejarah dunia, negara-negara yang gagal dalam melakukan redenominasi, saah satunya dalam hal ilusi uang. Pada akhirnya, secara regulasi kebijakan, redenominasi sudah dapat dilaksanakan, namun dalam implementasinya memerlukan waktu tertentu, dan tidak dalam waktu dekat.

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“…Tapi dalam kebijakan itu, bank sentral bisa mengupayakan mengembalikan kepercayaan masyarakat terhadap posisi tawar mata uang suatu negara, disertai berbagai langkah untuk menahan kenaikan harga berbagai kebutuhan masyarakat. Kasus redenominasi di Turki cukup menarik karena dapat menahan pertumbuhan level harga (Židek & Chribik, 2015). Pasca diberlakukannya redenominasi-mengubah nilai 1 juta Lira lama menjadi 1 Lira baru-stabilitas ekonomi bisa berjalan, karena diikuti diterapkannya kebijakan penargetan inflasi (inflation targeting).…”

Section: Studi Literaturunclassified

“…Selain itu, riset ini pun mengonfirmasi temuan peneliti yang mengambil kasus negara lain, seperti Turki. Turki menerapkan kebijakan redenominasi untuk melakukan pembaharuan sistem ekonominya agar mendorong stabilisasi moneter dan lebih memudahkan masyarakat dalam menjalankan aktivitas ekonomi mereka (Židek & Chribik, 2015).…”

Section: Pembahasanunclassified

Pengujian Resiko Redenominasi terhadap Nilai Tukar Rupiah

Holik¹

2021

Owner

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The redenomination is a breakthrough policy to induce stabilization because making transactions easier among the economic agents. This quantitative research aims to find the properness of the redenomination policy in Indonesia. The focus of this research is to analyze the impact of redenomination risk on rupiah exchange rate performance. It is conducted from April 1st, 2015 until May 9th, 2016. The method of analysis used here is VECM (Vector Error Correction Model) to find relation reciprocally among the three variables: CDS (Credit Default Swap) as a proxy for redenomination risk, exchange rate, and sovereign yields. Based on the result, we find that there are negative impacts in the long-run and short-run from redenomination risk on the rupiah exchange rate. Meanwhile, the sovereign yield has a positive impact on the rupiah exchange rate in the long run. In the short run, the exchange rate has a positive impact on redenomination, as well as on sovereign yield. The sovereign yield also has a positive effect on the exchange rate, as well as on the redenomination risk. But there is no impact of redenomination risk on the sovereign yield. From this finding, we should suggest that redenomination is a not proper decision yet. It is because the weakness of rupiah after its implementation due to sentiment of over-confidence among the economic agents sometimes triggers uncontrollable and high inflation rate. For the successful policy, previously the government should take action to reduce the inflation rate.

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Impact of Currency Redenomination on Inflation Case Study Turkey

Cited by 10 publications

References 1 publication

Redenomination Policy and Economic Performance: Experimental and Historical Approach

Redenomination Policy and Economic Performance: Experimental and Historical Approach

Indonesia (Tidak) Siap Redenominasi (?)

Pengujian Resiko Redenominasi terhadap Nilai Tukar Rupiah

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