Research
Research Papers (Working Papers and Journal Publications)
Money velocity, digital currency, and inflation dynamics in Indonesia (with Danny Hermawan, Aryo Sasongko and Richard Yusan) -- February 2024, forthcoming in the Bulletin of Indonesian Economic Studies.
An estimated open-economy DSGE model for the evaluation of central bank policy mix (with Solikin M. Juhro and Aryo Sasongko) -- Bulletin of Monetary Economics and Banking Vol. 26(3), November 2023 (WP version)
Changes in the Inflation Target and the Comovement between Inflation and the Nominal Interest Rate (with Yunjong Eo) -- version: September 2023
Implications of State-Dependent Pricing for DSGE Model-Based Policy Analysis in Indonesia -- Economic Analysis and Policy Vol. 71(C), 2021 (WP version)
Average Inflation Targeting and Interest-Rate Smoothing (with Yunjong Eo) -- Economics Letters Vol. 189, March 2020 (WP version)
The Role of Inflation Target Adjustment in Stabilization Policy (with Yunjong Eo) -- Journal of Money, Credit and Banking Vol. 52(8), December 2020 (WP version)
Observed Inflation-Target Adjustments in an Estimated DSGE Model for Indonesia: Do They Matter for Aggregate Fluctuations? -- (WP version) -- Economic Papers Vol. 38(4), December 2019, Special Issue on Understanding Indonesia's Economic and Financial Systems
State-Dependent Pricing and Optimal Monetary Policy -- version: August 2019
Time-Varying Trend Inflation and the New Keynesian Phillips Curve in Australia (with Anirudh Yadav) -- Economic Record Vol. 93, Issue 300, 42-66, March 2017 (WP version)
Comments on "Trend Inflation, Indexation, and Inflation Persistence in the New Keynesian Phillips Curve" (with Fabia Gumbau-Brisa) -- version: May 2015
Straightforward Approximate Stochastic Equilibria for Nonlinear Rational Expectations Models (with Michael K. Johnston and Robert G. King) -- version: August 2014
Note: these (newer) codes impose restrictions on equations (as in Appendix A) and compute solutions up to a 3rd-order approximation.
Note: these (older) codes impose restrictions on variables and only compute solutions up to a 2nd-order approximation.
Estimation of Forward-Looking Relationships in Closed Form: An Application to the New Keynesian Phillips Curve (with Michelle Barnes, Fabia Gumbau-Brisa, and Giovanni Olivei) -- version: June 2011
Note: this paper is a revised version of "Closed-Form Estimates of the New Keynesian Phillips Curve with Time-Varying Trend Inflation," Federal Reserve Bank of Boston WP 09-15.