There are things that are always covered by newspaper on a daily basis.in addition sport and politics, government is big issues on third rank after sport and politics,particularly for government,average of indonesia’s people has a deep relation. Lately has occured slump of government’s credibility in the eyes of society,especially middle class or poor class.
not least about problem of monetary.Government policy is something very important in the establishment of a government.cause in the absence of a policy, the name of a country will be questioned a country’s legality.monetary policy is common in indonesian country to be debated in press media or real conditions.
As the spirits performance that handling populist issues in generally.Governmen policy divide at two policy that has correlation with market,APBN,macro economic,and real sectors.one of them is fiscal policy that explain about taxes, subsidy, and retribution.
On other hand is monetary policy that has relation with market operation(demand and supply), discount policy(correlation with price market), especially to overcome economic problems of society.but in this time i want to focus discuss about monetary policy and it scope. how the influence of monetary policy on the real sector of the public?, how dependence of macro economic at monetary policy?
Governments policy is a common program in Indonesia, this policy has influence to overcome problem of Indonesian especially at monetary policy, it policy is more important than fiscal policy. Because this policy has correlation with real sectors. It means, monetary policy is important part of macroeconomic.
Commonly, monetary policy used to regulate of peregrination of money at society to measure and develop macroeconomic especially with Indonesian system. This statement is in line with Pohan (2008: 11) said that monetary policy is a policy that has goals to keep and maintain stabilization of values of money to push succession of production and development to enhance welfares of citizenry.
Monetary policy always has four effects in Indonesian system. Firstly is substitution effect. At my economic class two weeks ago Mr.Unggul explain about “diminishing Marginal Utility” this statement explain about How measure utilities of goods more and more deficit if person has been gotten many goods in other time. This statement also used at peregrination of money, that explain about how spreading of money has influence utilities value of money. This effect in Indonesian familiar called “Substitution effect”.
Secondly, “interest rate effect”. Miltone frieadman believe that expansion of monetary at long term never developed growth of economic and spread opportunities for unemployment. Expantion of monetary beside push societies to exchange their money to be goods and services also can push societies to exchange their money to be money asset like share, preferred stock, common stock, obligation , commercial paper, call money, Reksa Dana to capital market which in Indonesian called IHSG (Indeks Harga Saham Gabungan),JII(Jakarta Islamic Index)and LQ-45.
Thirdly, Riches effects. As we know at glance people of Indonesia, average of them is poor, but if we analyze one by one there are group of rich man in Indonesia like Abu Rizal Bakrie, Alm. Soeharto, Ir. Ciputra, and CEO of Djarum, etc. They have richness that scattered in every district of Indonesia. Then, they usually buy expensive goods, so that influence monetary effect. This statement appropriate with Delorme(2005:28) state that increasing of goods on the real form causes land, companies, and house will causes the price of land at nominal utilitites.
Finally, expectation effect. This is an anticipation that commonly did by society that bring two effect of monetary policy. One of them is monetary policy is not so effective lately because monetary policy not change real sector that is consumption, production, investment, evidence many of the little people more miserable, do not get a decent living, the less of education and technology backwardness.
Based on previous explanation, I can conclude that substitution , interest rate, riches and expectation in society like increasing of production, consumption, richness cause revolution of monetary policy which influence Indonesia Economic. evidence, these four shows how government policies affect the real sector of the public and impacts on a country’s macroeconomic conditions,it should realize as Indonesiangovernment policy holder.so that in the future,monetery policy does not harm peoples.Especialy those small peoples.in our beloved country,Indonesia.
The author realizes that in writing this paper there are still many mistakes that include the structure of language,diction,and correlation of title with that explained on the content of paper,thus, author expect constructive criticism &advice from lecturers,friends, and dear readers that can be my paper better and correct in the future.
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