KEBIJAKAN MONETER DAN IMPLIKASINYA TERHADAP STABILITAS EKONOMI MAKRO DI INDONESIA: STUDY SYSTEMATIC LITERATURE REVIEW (SLR)

Authors

  • Syifa Athaya Program Studi Akuntansi Syariah, Fakultas Ekonomi dan Bisnis Islam, Universitas Islam Negeri Sumatera Utara Author
  • Syafriandi Aziz Program Studi Akuntansi Syariah, Fakultas Ekonomi dan Bisnis Islam, Universitas Islam Negeri Sumatera Utara Author
  • Siti Fahira Sihotang Program Studi Akuntansi Syariah, Fakultas Ekonomi dan Bisnis Islam, Universitas Islam Negeri Sumatera Utara Author
  • Hj. Yenni Samri Juliati Nasution Program Studi Akuntansi Syariah, Fakultas Ekonomi dan Bisnis Islam, Universitas Islam Negeri Sumatera Utara Author

Keywords:

Monetary Policy, Macroeconomic Stability, Indonesia

Abstract

This study aims to systematically review the literature on monetary policy and its impact on macroeconomic stability in Indonesia. Using the Systematic Literature Review method, this study evaluates 10 high-quality journals published between 2020 and 2025. The review shows that monetary policy, particularly through the instruments of benchmark interest rates, open market operations, minimum reserve requirements, and foreign exchange market interventions, plays a significant role in controlling inflation, maintaining exchange rate stability, and promoting economic growth. The findings also show that the response of the Indonesian economy to changes in interest rates and money supply is consistent, but policy effectiveness still faces challenges such as imperfections in policy transmission, global influences, and developments in financial technology. Therefore, an adaptive, credible, and coordinated monetary policy with fiscal policy is needed to achieve sustainable macroeconomic stability.

References

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Published

2025-07-01

Issue

Vol. 3 No. 4 (2025): JULI

Section

Articles