THE EFFECT OF CARD PAYMENT INSTRUMENTS, FLOAT FUNDS, AND POLICY INTEREST RATES ON THE VELOCITY OF MONEY IN INDONESIA IN 2014-2023 WITH THE COVID-19 PANDEMIC AS A DUMMY VARIABLE

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Shofa Shidqi Fi Ardhillah
Harya Kuncara Wiralaga
Karuniana Dianta Arfiando Sebayang

Abstract

The purpose of this study is to see the effect of credit cards, debit cards, floating funds, policy interest rates on money circulation in Indonesia in 2014-2023 with the Covid-19 pandemic as a dummy variable. The research method used is a quantitative method using secondary data in the form of time series. The research data was obtained from the pages of Bank Indonesia, the Central Statistics Agency, and the Indonesian Ministry of Trade. The analysis used a multiple regression model with the Two-Stage Least Square (TSLS) method which was tested using Eviews software version 12. Based on the results of the study, it was found that inflation and money circulation had a significant effect on policy interest rates. Then, floating funds did not affect money circulation. However, other variables have an effect and some have a negative direction on money circulation

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