Judul: Indonesia’s financial  system stability  analysis
Abstrak: Sistem keuangan sangat penting perananya di dalam perekonomian suatu negara. Berbagai metode telah digunakan untuk dapat mengamati stabilitas sistem keuangan, salah satunya dengan membangun indeks agregat untuk stabilitas sistem keuangan seperti Aggregate Financial Stability Index (AFSI). Tujuan penelitian ini adalah untuk menilai stabilitas sistem keuangan dan mengamati fenomena krisis yang terjadi di Indonesia selama periode 2000-2011 mengunakan AFSI. Pergerakan indeks menunjukan bahwa secara umum stabilitas sistem keuangan Indonesia berada pada koridor financial instability atau kondisi tidak stabil. Validasi ekonometrik indeks dilakukan dengan menganalisis pengaruh indikator makroekonomi terhadap stabilitas sistem keuangan Indonesia menggunakan model koreksi kesalahan (Error Correction Model = ECM). Pertumbuhan volume GDP dan Indeks Harga Saham Gabungan (IHSG) berkontribusi positif dalam menciptakan sistem keuangan yang stabil. Pertumbuhan jumlah uang beredar (M2) dan nilai tukar nominal berpengaruh negatif, sehingga dapat mengancam stabilitas sistem keuangan., The financial system is very important in the economy of a country. Various methods have been used to observe the stability of the financial system, one of them by constructing an aggregate index for the stability of the financial system as “Aggregate Financial Stability Index (AFSI)”. The purpose of this study is to assess the stability of the financial system and to observe the crisis phenomena that occurred in Indonesia during the period 2000-2011 using the AFSI. The movement of the index shows that the overall stability of the financial system in Indonesia is in the corridors the financial instability or unstable condition. Econometric validation of index by analyzing the effect of macroeconomic indicators on the stability of the Indonesia’s financial system using Error Correction Model (ECM). Both the growth of the GDP volume and IHSG gives rise to positive contribution in creating a stable financial system. Both The growth in the money supply (M2) and Nominal Exchange Rate bring about a negative effect, so as to endanger the stability of the financial system.
Keyword: Aggregate Financial Stability Index, Indikator Makroekonomi, Model koreksi Kesalahan, Stabilitas Sistem Keuangan

Judul: Financial and Monetary Stability in Indonesia: The
Exogenous Threshold VAR Approach.
Abstrak: Financial Stress merupakan awal dari terjadinya krisis dan dapat terjadi pada semua negara. Periode ini tentunya tidak diharapkan, karena periode ini dapat mengganggu stabilitas keuangan dan moneter suatu negara. Sistem keuangan yang tidak stabil cenderung rentan terhadap berbagai stress dan juga dapat menyebabkan transmisi kebijakan moneter tidak berfungsi secara normal sehingga kebijakan moneter menjadi tidak efektif. Historis Indonesia pernah berada pada kondisi krisis ekonomi 1997 dan 1998 kemudian terkena dampak dari krisis ekonomi global pada 2008 membuat penelitian terkait stabilitas moneter dan keuangan di Indonesia dengan pendekatan Exogenous Threshold Vector Autoregression (VAR) menjadi penting, hal ini dilakukan untuk menangkap nonlinearitas yang terjadi di Indonesia. Penelitian ini menggunakan ekonometrika yang dianalisis secara deskriptif dan kuantitatif dengan mencoba melihat hubungan stabilitas keuangan dan moneter di Indonesia. Data penelitian yang digunakan yaitu Financial Stress Index Indonesia (FSI INA), Consumer Price Index (CPI), Interest Rate (IR) dan Volatility Index (VIX). Periode waktu yang digunakan dimulai bulan Januari 1996 sampai Maret 2018. Penelitian ini membagi data penelitian menjadi dua rezim, yaitu rezim financial stress tinggi dan rezim financial stress rendah dengan menggunakan metode Exogenous Threshold VAR. Hasilnya menunjukkan bahwa kondisi FSI INA terbukti bersifat nonlinear. Nilai threshold FSI INA yang membagi rezim dalam penelitian ini sebesar 1,011. Nilai FSI INA yang lebih rendah dari 1,011 termasuk rezim FSI INA rendah dan sebaliknya nilai FSI INA yang lebih tinggi dari 1,011 termasuk rezim FSI INA tinggi. Guncangan FSI INA dan CPI di Indonesia memiliki respon yang berbeda saat rezim FSI INA rendah dan tinggi. Hasil Impulse Response Function (IRF) menunjukkan bahwa guncangan FSI INA memengaruhi CPI pada saat rezim FSI INA tinggi dan rezim FSI INA rendah. Saat rezim FSI INA tinggi dibutuhkan waktu yang lebih lama untuk menuju keseimbangan. Guncangan CPI memengaruhi FSI INA baik saat rezim FSI INA tinggi maupun saat rezim rendah. Hasil tersebut seperti halnya guncangan FSI INA yang membutuhkan waktu lebih lama untuk menuju keseimbangan pada saat rezim FSI INA tinggi.
Keyword: financial stability, financial stress index, monetary stability

Judul: Development of DNA Vaccine Encoding Glycoprotein of Koi Herpes Virus Using Local Isolate.
Abstrak: The aim of this research was to develop DNA vaccine of Koi Herpesvirus in carp. Glycoprotein gene originated from ORF 25 KHV virus that is 1.8 kbp in size, is a potential gene in DNA vaccine construction. The sequencing and similarity analysis of the gene using BLAST software showed that this gene is a GP25 gene and was found to be very similar (99%) to GP25 of KHV virus from the USA and Israel. When this GP25 gene was ligated with pGEMT Easy (pT, 3 kbp in size) vector, plasmid size was increasing up to 5 kb. Following this, a digestion of pT-GP25 plasmid using Sal I enzyme was applied resulted in a GP25 fragment (1.8 kbp). Subsequently, pAct-D6 with a size of 8.5 kbp was also cut using the same enzyme to eleminate a D6 gene with a size of 1.6 kbp. GP25 gene was then ligated with pAct resulted a pAct-GP25 plasmid with a size of 8.8 kbp. As there was only one restriction site applied, ligation can be occurred in two different directions. Thus, in order to determine the plasmid with the desired direction PCR analysis was carried out, and plasmid with the right direction was the one that sized approximately 2.1 kbp (no. 6, 17 and 20). High level of GFP gene expression was detected in all tissues analyzed, i.e. kidney, gil, spleen, and muscle 24 hours after injection which indicated that β-actin promoter of Japanese medaka could be active in common carp. Although not as high as on 24 hours, expression was still detected until day 7 and disappeared after day 28 post injection indicating that pAct-GFP can be remained and β-actin promoter of Japanese medaka can be active in muscle, gills and kidney at least a week after injection. The result of RT-PCR analysis on pAct-GP25 injected common carp showed that GP25 gene expression can be detected 14 days after injection in all tissues observed. The expression level differences between GFP and GP25 genes possibly related to the primer sensitivity on annealing process to cDNA template and the size of PCR targeted DNA fragment, as smaller PCR targeted product will be easier to be amplified than a bigger one. The length of PCR targeted DNA with GP25 primer was 1.8 kbp whereas GFP gene was 0.6 kbp.The challenge test on common carp results showed that all unvaccinated and negative control (not infected with KHV) was alive until the end of the experiment. Whereas, the survival of fish vaccinated with a dose of 12.5 was ranged from 60.9 and 96.7%. In relation to the activity of β-actin promoter that was used in this DNA vaccine, gene expression was occured 24 hours after vaccination and remained until 2 weeks. The control fish that was not injected by GP25 showed no GP25 expression either in the observed tissues or organs and resulted in a lower survival, i.e. 23.3%. The challenge test results has indicated that the fish vaccinated with GP25 at doses of 7.5 and 12.5 μg/100μL were able to produce KHV glycoprotein in their body which would be
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