Judul: Exchange Market Pressure and Central Bank Intervention for Three ASEAN Countries
Abstrak: Two of the exchange rate systems which are adopted by many countries are the floating and the fixed exchange rate system. Both the exchange rate systems have different characteristics. Countries that implement fixed exchange rates system tend to set their domestic currency exchange rate at a certain point. On the contrary, countries which implement floating exchange rate system tend to let their domestic currency exchange rate to move flexibly and thus their value will always change according to the demand and supply of the currency in the foreign exchange market. Countries which implement floating exchange rate system are facing the risk of fluctuation in the exchange rate of their domestic currency against foreign currencies. The currency exchange rate fluctuation may be caused by economic problems such as a financial crisis. A country can also be potentially affected by other countries’ earlier financial crisis. This effect could potentially happen if these countries are in the same region, such as ASEAN. The 1997 ASEAN economic crisis was an example of a country’s financial crisis could affect other countries. At that time, some countries such as Indonesia, Malaysia and Thailand had to change their currency exchange rate system from the fixed exchange rate system to the floating exchange rate system due to the high costs which has to be incurred if they were to enforce the fixed exchange rate system. During 2002 until 2012, the domestic exchange rate of Indonesia, Malaysia and Thailand against the U.S. dollar had tended to fluctuate. If the domestic currency exchange rate fluctuated excessively then the central bank would intervene to stabilize the exchange rate in the foreign exchange market. The pressure on domestic currency exchange rate pressures has forced the central bank to intervene. The amount of those pressures can be analyzed by calculating the Exchange Market Pressure (EMP) index. Apart from that, the time when interventions are done by the central bank can be known based on EMP by calculating the Exchange Market Intervention (EMI) index. The purposes of this study were to determine the level of international pressure on the currency exchange market and monetary authorities intervene in three ASEAN countries, as well as to determine the effect of the monetary authorities intervene on the exchange rate of the domestic currency against the U.S. dollar in those three ASEAN countries. Based on the EMP index calculation results which are obtained during 2002 to 2012 period, the exchange rate of Indonesia, Malaysia and Thailand’s domestic currency had always fluctuated and the results of the EMP index indicated that each country were under diverse level of currency exchange rate appreciation and depreciation pressures. Thailand was the country with the highest currency exchange rate pressure compared to Indonesia and Malaysia. The results on the intervention index calculation showed that Indonesia, Malaysia and Thailand have intervention index between zero and one and more than one. We can also see from the intervention index that Indonesia and Thailand implement the controlled floating currency exchange rate instead of the freely floating one. Based on the calculation of the currency exchange rate by comparing
Keyword: exchange rate, exchange market pressure, intervention

Judul: Analisis Exchange rate pass-through terhadap Harga Domestik: Studi Di ASEAN-3, Jepang, dan Korea Selatan Periode 2010-2013
Abstrak: This research is aimed to analyze the ability of exchange rate in transmitting inflationary pressure from the outside country towards the economy of Indonesia, Malaysia, Japan, and South Korea. The research is divided into two parts; the first part views the effects of foreign price shock towards the domestic exchange rate and the second part views the effects of exchange rate shock towards the domestic price. The difference of this research with other research is that this research uses the model with three different types of ordering to examine the robustness from the empiric result. Based on the result of the research, it is viewed that the contribution effects of the import price shock and the exchange rate shock towards the domestic economy are different in every countries. While the effects of import price shock cause the appreciation of the exchange rate and the exchange rate shock cause the deflation in those countries. The empiric results are robust as the three types of models are not indicated to the significant changes toward the ordering changes.
Keyword: VECM, VAR, exchange rate shocks, import price shocks, exchange rate pass-through

Judul: Parvovirus Pada Anjing
Abstrak: Penyakit ini menyerang anjing dari semua umur dan dari semua jenis anjing, ssrta bersifat sangat msnular dan sukar untuk diobati. Gejala yang menonjol dari penyakit ini adalah muntah dan diars, dimena muntahan msngandung busa dan diarsnya bsrdarah atau bercampur lendir. Dalam msndiagnosa penyakit ini harus hati-hati karena gejaIa-geja1anya tidak spesifik dan mirip dengan penyakit- psnyakit yang disebabkah oleh agen 1ainnya.
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