A.
Stastistik Deskriptif
INF JUB NT GWM KD
Mean 5.743938 104.2695 6390.124 0.054750 4.034624
Median 4.044883 120.8784 33.62656 0.050000 3.250000
Maximum 42.30327 156.5178 23787.32 0.110000 15.00000
Minimum -5.992202 36.00172 1.249676 0.010000 0.180000
Std. Dev. 6.385539 35.74125 8469.365 0.025765 2.869474
Skewness 2.437596 -0.894718 0.813738 0.592918 1.056789
Kurtosis 12.82293 2.387474 2.072988 2.475944 4.222171
Jarque-Bera 501.0727 14.90530 14.61678 7.003512 24.83714
Probability 0.000000 0.000580 0.000670 0.030144 0.000004
Sum 574.3938 10426.95 639012.4 5.475000 403.4624
Sum Sq. Dev. 4036.735 126466.3 7.10E+09 0.065719 815.1541
Observations 100 100 100 100 100
B. COMMON EFFECT (CEM)
Dependent Variable: INF
Method: Panel Least Squares
Date: 04/29/25 Time: 08:13
Sample: 2004 2023
Periods included: 20
Cross-sections included: 5
Total panel (balanced) observations: 100
Variable Coefficient Std. Error t-Statistic Prob.
C -1.965094 3.119716 -0.629895 0.5303
JUB 0.014669 0.019644 0.746754 0.4571
NT -0.000255 9.42E-05 -2.702264 0.0082
GWM 17.26543 28.79328 0.599634 0.5502
KD 1.700697 0.322439 5.274476 0.0000
R-squared 0.324073 Mean dependent var 5.743938
Adjusted R-squared 0.295613 S.D. dependent var 6.385539
S.E. of regression 5.359241 Akaike info criterion 6.244228
Sum squared resid 2728.539 Schwarz criterion 6.374487
Log likelihood -307.2114 Hannan-Quinn criter. 6.296946
F-statistic 11.38693 Durbin-Watson stat 1.645119
Prob(F-statistic) 0.000000
C. FIXED EFFECT (FEM)
Dependent Variable: INF
Method: Panel Least Squares
Date: 04/29/25 Time: 08:17
Sample: 2004 2023
Periods included: 20
Cross-sections included: 5
Total panel (balanced) observations: 100
Variable Coefficient Std. Error t-Statistic Prob.
C 21.09024 7.022438 3.003264 0.0034
JUB -0.104554 0.049875 -2.096313 0.0388
NT -0.000993 0.000353 -2.812029 0.0060
GWM -47.50774 40.01996 -1.187101 0.2383
KD 1.115578 0.334330 3.336757 0.0012
Effects Specification
Cross-section fixed (dummy variables)
R-squared 0.458259 Mean dependent var 5.743938
Adjusted R-squared 0.410633 S.D. dependent var 6.385539
S.E. of regression 4.902193 Akaike info criterion 6.102932
Sum squared resid 2186.866 Schwarz criterion 6.337397
Log likelihood -296.1466 Hannan-Quinn criter. 6.197824
F-statistic 9.622105 Durbin-Watson stat 1.845437
Prob(F-statistic) 0.000000
D. RANDOM EFFECT (REM)
Dependent Variable: INF
Method: Panel EGLS (Cross-section random effects)
Date: 05/08/25 Time: 10:21
Sample: 2004 2023
Periods included: 20
Cross-sections included: 5
Total panel (balanced) observations: 100
Swamy and Arora estimator of component variances
Variable Coefficient Std. Error t-Statistic Prob.
C -1.965094 2.853660 -0.688622 0.4927
JUB 0.014669 0.017968 0.816376 0.4163
NT -0.000255 8.62E-05 -2.954205 0.0040
GWM 17.26543 26.33773 0.655540 0.5137
KD 1.700697 0.294941 5.766233 0.0000
Effects Specification
S.D. Rho
Cross-section random 1.79E-07 0.0000
Idiosyncratic random 4.902193 1.0000
Weighted Statistics
R-squared 0.324073 Mean dependent var 5.743938
Adjusted R-squared 0.295613 S.D. dependent var 6.385539
S.E. of regression 5.359241 Sum squared resid 2728.539
F-statistic 11.38693 Durbin-Watson stat 1.645119
Prob(F-statistic) 0.000000
Unweighted Statistics
R-squared 0.324073 Mean dependent var 5.743938
Sum squared resid 2728.539 Durbin-Watson stat 1.645119
E. UJI CHOW
Redundant Fixed Effects Tests
Equation: Untitled
Test cross-section fixed effects
Effects Test Statistic d.f. Prob.
Cross-section F 5.635024 (4,91) 0.0004
Cross-section Chi-square 22.129654 4 0.0002
Redundant Fixed Effects Tests
Equation: Untitled
Test cross-section fixed effects
Effects Test Statistic d.f. Prob.
Cross-section F 5.635024 (4,91) 0.0004
Cross-section Chi-square 22.129654 4 0.0002
Cross-section fixed effects test equation:
Dependent Variable: INF
Method: Panel Least Squares
Date: 04/29/25 Time: 08:20
Sample: 2004 2023
Periods included: 20
Cross-sections included: 5
Total panel (balanced) observations: 100
Variable Coefficient Std. Error t-Statistic Prob.
C -1.965094 3.119716 -0.629895 0.5303
JUB 0.014669 0.019644 0.746754 0.4571
NT -0.000255 9.42E-05 -2.702264 0.0082
GWM 17.26543 28.79328 0.599634 0.5502
KD 1.700697 0.322439 5.274476 0.0000
R-squared 0.324073 Mean dependent var 5.743938
Adjusted R-squared 0.295613 S.D. dependent var 6.385539
S.E. of regression 5.359241 Akaike info criterion 6.244228
Sum squared resid 2728.539 Schwarz criterion 6.374487
Log likelihood -307.2114 Hannan-Quinn criter. 6.296946
F-statistic 11.38693 Durbin-Watson stat 1.645119
Prob(F-statistic) 0.000000
Berdasarkan table uji chow diatas, kedua nilai probabilitas Cross Section F dan Chi Square yang lebih
kecil dari Alpha 0,05 sehingga menolak hipotesis nol. Jadi menunjukkan fixed effect, model yang
terbaik digunakan adalah model metode fixed effect. Berdasarkan hasi uji chow yang menolak
hipotesis nol, maka pengujian data berlanjut ke uji hausman.
F. UJI HAUSMAN
Correlated Random Effects - Hausman Test
Equation: Untitled
Test cross-section random effects
Test Summary Chi-Sq. Statistic Chi-Sq. d.f. Prob.
Cross-section random 22.540096 4 0.0002
Cross-section random effects test comparisons:
Variable Fixed Random Var(Diff.) Prob.
JUB -0.104554 0.014669 0.002165 0.0104
NT -0.000993 -0.000255 0.000000 0.0311
GWM -47.507737 17.265427 907.921469 0.0316
KD 1.115578 1.700697 0.024786 0.0002
Cross-section random effects test equation:
Dependent Variable: INF
Method: Panel Least Squares
Date: 05/02/25 Time: 09:14
Sample: 2004 2023
Periods included: 20
Cross-sections included: 5
Total panel (balanced) observations: 100
Variable Coefficient Std. Error t-Statistic Prob.
C 21.09024 7.022438 3.003264 0.0034
JUB -0.104554 0.049875 -2.096313 0.0388
NT -0.000993 0.000353 -2.812029 0.0060
GWM -47.50774 40.01996 -1.187101 0.2383
KD 1.115578 0.334330 3.336757 0.0012
Effects Specification
Cross-section fixed (dummy variables)
R-squared 0.458259 Mean dependent var 5.743938
Adjusted R-squared 0.410633 S.D. dependent var 6.385539
S.E. of regression 4.902193 Akaike info criterion 6.102932
Sum squared resid 2186.866 Schwarz criterion 6.337397
Log likelihood -296.1466 Hannan-Quinn criter. 6.197824
F-statistic 9.622105 Durbin-Watson stat 1.845437
Prob(F-statistic) 0.000000
UJI ASUMSI KLASIK
A. UJI NORMALITAS
20
Series: Standa rdized Res idua ls
Sa mpl e 2004 2023
16 Obs erva ti ons 100
Mea n 3.04e-16
12 Medi a n -0.269855
Ma xi mum 28.43992
8 Mi ni mum -8.690504
Std. Dev. 4.699953
Skewnes s 2.289876
4 Kurtos i s 14.91140
Ja rque-Bera 678.5652
0 Proba bi l i ty 0.000000
-5 0 5 10 15 20 25
B. Uji multi
JUB NT GWM KD
JUB 1.000000 -0.406963 -0.470346 -0.630376
NT -0.406963 1.000000 0.613364 0.703234
GWM -0.470346 0.613364 1.000000 0.640288
KD -0.630376 0.703234 0.640288 1.000000
C. Uji heterokesdasitas
Dependent Variable: ABS(RESID)
Method: Panel Least Squares
Date: 05/02/25 Time: 10:17
Sample: 2004 2023
Periods included: 20
Cross-sections included: 5
Total panel (balanced) observations: 100
Variable Coefficient Std. Error t-Statistic Prob.
C 9.727212 4.790389 2.030568 0.0452
JUB -0.044229 0.034023 -1.299976 0.1969
NT -0.000329 0.000241 -1.366491 0.1752
GWM -2.528915 27.29980 -0.092635 0.9264
KD 0.046493 0.228065 0.203858 0.8389
Effects Specification
Cross-section fixed (dummy variables)
R-squared 0.185615 Mean dependent var 3.061541
Adjusted R-squared 0.114021 S.D. dependent var 3.552724
S.E. of regression 3.344054 Akaike info criterion 5.337934
Sum squared resid 1017.626 Schwarz criterion 5.572399
Log likelihood -257.8967 Hannan-Quinn criter. 5.432826
F-statistic 2.592596 Durbin-Watson stat 2.031347
Prob(F-statistic) 0.013411
Karena prob > 0,05 lolos uji heterokesdasitas
20
15
10
-5
IND - 04
IND - 09
IND - 14
IND - 19
MYS - 04
MYS - 09
MYS - 14
MYS - 19
SGR - 04
SGR - 09
SGR - 14
SGR - 19
THA - 04
THA - 09
THA - 14
THA - 19
VTM - 04
VTM - 09
VTM - 14
VTM - 19
ABS(RESID) Residuals
Uji hopetesis
Dependent Variable: INF
Method: Panel Least Squares
Date: 05/02/25 Time: 10:06
Sample: 2004 2023
Periods included: 20
Cross-sections included: 5
Total panel (balanced) observations: 100
Variable Coefficient Std. Error t-Statistic Prob.
C -1.965094 3.119716 -0.629895 0.5303
JUB 0.014669 0.019644 0.746754 0.4571
NT -0.000255 9.42E-05 -2.702264 0.0082
GWM 17.26543 28.79328 0.599634 0.5502
KD 1.700697 0.322439 5.274476 0.0000
R-squared 0.324073 Mean dependent var 5.743938
Adjusted R-squared 0.295613 S.D. dependent var 6.385539
S.E. of regression 5.359241 Akaike info criterion 6.244228
Sum squared resid 2728.539 Schwarz criterion 6.374487
Log likelihood -307.2114 Hannan-Quinn criter. 6.296946
F-statistic 11.38693 Durbin-Watson stat 1.645119
Prob(F-statistic) 0.000000
Dependent Variable: INF
Method: Panel Least Squares
Date: 05/07/25 Time: 15:46
Sample: 2004 2023
Periods included: 20
Cross-sections included: 5
Total panel (balanced) observations: 100
Variable Coefficient Std. Error t-Statistic Prob.
C 21.09024 7.022438 3.003264 0.0034
JUB -0.104554 0.049875 -2.096313 0.0388
NT -0.000993 0.000353 -2.812029 0.0060
GWM -47.50774 40.01996 -1.187101 0.2383
KD 1.115578 0.334330 3.336757 0.0012
Effects Specification
Cross-section fixed (dummy variables)
R-squared 0.458259 Mean dependent var 5.743938
Adjusted R-squared 0.410633 S.D. dependent var 6.385539
S.E. of regression 4.902193 Akaike info criterion 6.102932
Sum squared resid 2186.866 Schwarz criterion 6.337397
Log likelihood -296.1466 Hannan-Quinn criter. 6.197824
F-statistic 9.622105 Durbin-Watson stat 1.845437
Prob(F-statistic) 0.000000
TABEL STASTISTIK DESKRIPTIF
JUMLAH
NILAI GIRO WAJIB KEBIJAKAN
INFLASI UANG
TUKAR MINIMUM DISKONTO
BEREDAR
Mean 5.743938 104.2695 6390.124 0.054750 4.034624
Median 4.044883 120.8784 33.62656 0.050000 3.250000
Maximum 42.30327 156.5178 23787.32 0.110000 15.00000
Minimum -5.992202 36.00172 1.249676 0.010000 0.180000
Std. Dev. 6.385539 35.74125 8469.365 0.025765 2.869474
Observations 100 100 100 100 100
TABEL HASIL ESTIMASI CEM
Variabel Coefficient Probabilitas
C -1.965094 0.5303
JUB 0.014669 0.4571
NT -0.000255 0.0082
GWM 17.26543 0.5502
KD 1.700697 0.0000
TABEL HASIL ESTIMASI FEM
Variabel Coefficient Probabilitas
C 21.09024 0.0034
JUB -0.104554 0.0388
NT -0.000993 0.0060
GWM -47.50774 0.2383
KD 1.115578 0.0012
TABEL HASIL ESTIMASI REM
Variabel Coefficient Probabilitas
C
JUB
NT
GWM
KD
TABEL HASIL UJI CHOW
Effect Test Probabilitas
Cross-section F 0.0004
Cross-Section Chi-Square 0.0002
TABEL HASI UJI HAUSMAN
Test Summary Probabilitas
Cross-section random 0.0002
TABEL HASIL UJI NORMALITAS
Statistic uji Nilai
Jarque- Bera 678.5652
Probabilitas 0.000000
TABEL HASIL UJI MULTIKOLINEARITAS
JUB NT GWM KD
JUB 1.000000 -0.406963 -0470346 -0.630376
NT -0.406963 1.000000 0.613364 0.703234
GWM -0.470346 0.613364 1.000000 0.640288
KD -0.630376 0.703234 0.640288 1.000000
TABEL HASIL UJI HETEROSKEDASTISITAS
Variabel Probabilitas
C 0.0452
JUB 0.1969
NT 0.1752
GWM 0.9264
KD 0.8389
TABEL HASIL UJI STASTISTIK F
F- Stastistic Prob ( F-stastistic)
11.38693 0.000000
TABEL HASIL UJI STASTISTIK t
Variabel t- Statistic Probabilitas
C -0.629895 0.5303
JUB 0.746754 0.4571
NT -2702264 0.0082
GWM 0.599634 0.5502
KD 5.274476 0.0000
TABEL R SQUARE
R-squared
Adjusted R-squared
