ANALYSIS OF FUEL OIL PRICES AND MACROECONOMIC VARIABLES ON INDONESIA'S NATIONAL INCOME
DOI:
https://doi.org/10.29103/icofeb.v2i-.1152Keywords:
National Income, Fuel Oil Prices, Unemployment, InflationAbstract
The purpose of this study is to ascertain how Indonesia's national income is impacted by macroeconomic variables and fuel oil prices. The Central Statistics Agency (BPS) and the Ministry of Mineral Resources (MEMR) provided time series data from 1970 to 2022, which were used in this study together with secondary data and quantitative methodologies. Using the eviews application, the ARDL (Auto Regressive Distributed Lagged) model was employed in this investigation. The study's findings demonstrate cointegration, with an Error Corection Term (ECT) value of -0.805066. Long-term inflation has a positive and significant impact, while short-term unemployment has a negative and significant impact on national income, while both short-term and long-term fuel oil prices have a positive and significant impact on national income.
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