UJI HIPOTESIS “JALAN-ACAK” DALAM FUNGSI KONSUMSI DI INDONESIA

https://doi.org/10.22146/jieb.6572

Munawar Ismail(1*), David Kalirge(2), Martanti Wahyurina(3)

(1) Universitas Brawijaya
(2) Universitas Brawijaya
(3) Universitas Brawijaya
(*) Corresponding Author

Abstract


This study is aimed at testing the random-walk hypothesis in the Indonesian economy
consumption function. If the random-walk exists then the consumption can not be predicted
sistematicaly. The study found that there was no random-walk in the Indonesian
consumption function either under the assumption of constant interest rate or that of
variable interest rate. Other finding is that both nominal interest rate and the rate of
inflation had significant effect on the consumption.

Keywords: consumption, random-walk, rational expectation, life cycle-permanent income





DOI: https://doi.org/10.22146/jieb.6572

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