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"This study estimates the forward-looking monetary policy reaction function for Sri Lanka using monthly data from 1980 to 2017. The results indicate that the Central Bank of Sri Lanka (CBSL) followed the Taylor rule to set interest rates. Our forwardlooking model estimations show that the coefficient on inflation increases over time, reflecting the greater focus on price stability by the bank. The results suggest that the CBSL reacted to nominal exchange rate depreciation by tightening monetary policy. Although the degree of interest rate smoothness gradually decreases over time, the study shows that the CBSL did not react to movements in fiscal deficit during the period under investigation. This finding suggests that the inclusion of fiscal deficit in the Taylor rule does not provide a better specification of the policy reaction function in Sri Lanka."

"Penelitian ini membahas mengenai pengaruh dinasti politik pada kegagalan implementasi kebijakan di Sri Lanka tahun 2019-2022. Mengacu pada teori implementasi kebijakan yang dikemukakan oleh George S. Edwards, dinasti politik yang mengakar pada perpolitikan Sri Lanka mampu mempengaruhi implementasi kebijakan ekonomi di Sri Lanka. Tulisan ini menyoroti beberapa faktor dan pengaruh yang mengakibatkan krisis keuangan Sri Lanka. Temuan dari penelitian ini menunjukkan bahwa politik dinasti dengan anggota keluarga Gotabaya Rajapaksa yang mengisi jabatan strategis mampu mempengaruhi kebijakan ekonomi di Sri Lanka pada tahun 2019-2022. Sebagaimana yang telah dikemukakan oleh George S. Edward terkait empat variable yang harus dipenuhi demi keberhasilan implementasi kebijakan. Penelitian ini menggunakan metode kualitatif dengan melakukan studi literatur dan ingin membuktikan hipotesis sementara bahwa dinasti politik keluarga Rajapaksa pada prosesnya mampu memengaruhi implementasi kebijakan yang berujung pada kegagalaan ekonomi pada tahun 2022. Politik dinasti yang memegang jabatan strategis kemudian menghasilkan kebijakan yang kurang matang dan menyebabkan gagalannya kebijakan tersebut yang berujung pada kegagalan ekonomi.

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This research discusses the influence of political dynasties on the failure of policy implementation in Sri Lanka in 2019-2022. Referring to the theory of policy implementation put forward by George S. Edwards, political dynasties that are rooted in Sri Lankan politics are able to influence the implementation of economic policies in Sri Lanka. This paper examines several factors and influences that resulted in the Sri Lankan financial crisis. The findings from this study indicate that dynastic politics with members of the Gotabaya Rajapaksa family filling strategic positions can influence economic policy in Sri Lanka in 2019-2022. As stated by George S. Edward the four variables that must be met for the successful implementation of the policy. This research uses qualitative methods by conducting literature studies and wants to prove the provisional hypothesis that the political dynasty of the Rajapaksa family in the process is able to influence the implementation of policies that lead to economic failure in 2022. Political dynasties holding strategic positions then produce policies that are inconsiderable and cause policy failure which led to economic failure."

"ABSTRAKMonetary policy is always a dynamic attribute on commodity prices in the economy. This article examines the empirical relationship between monetary policy and commodity price by employing a vector auto-regression (VAR) Model to show its response in the case of Pakistan. In this paper, the research philosophy is employed based on Positivism with Deductive approach to recognizing the response of monetary policy shocks on commodity price. Recently, low-interest rates and excessive liquidity play a dynamic role in affecting the prices of the commodities market. Furthermore, the impact of monetary policy rate show significant result and seems to be huge in the economy of Pakistan massively. Besides, there is a stable relationship between monetary policy instrument and commodity prices even though the current financial crisis."

"ABSTRAKThis paper empirically tests the dynamics of credit cards and monetary policy in thecontext of Indonesia. Using monthly data from 2006 to 2018 and a structural vectorautoregressive model, our findings indicate that credit card usage is mainly drivenby Indonesias fast economic growth over the last decade, which indeed reflects therole of credit cards in consumption smoothing. The study also finds that monetarypolicy transmission through the lending channel is weak, with a more prevalent rolefor exchange rates and global oil prices in the transmission process."