Volume 20, Number 4, April 2018

Volume 20, Number 4, April 2018

ISSN 1410 - 8046 CREDIT RISK MODELS FOR FIVE MAJOR SECTORS IN INDONESIA

Ndari Surjaningsih, Ina Nurmalia Kurniati, Reni Indriani

IMPACT OF FINANCIAL INCLUSION ON FINANCIAL STABILITY BASED ON INCOME GROUP COUNTRIES Azka Azifah Dienillah, Lukytawati Anggraeni, Sahara

THE ANALYSIS OF RISK PROFILE AND FINANCIAL VULNERABILITY OF HOUSEHOLDS IN INDONESIA Arlyana Abubakar, Rieska Indah Astuti, Rini Oktapiani

CRYPTOCURRENCIES FROM ISLAMIC PERSPECTIVES:

THE CASE OF BITCOIN Ahmad Kameel Mydin Meera

THE DENOMINATION EFFECT ON SPENDING THROUGH EXPERIMENTAL APPROACH

Bambang Juanda

DISAGGREGATION AND FORECASTING OF THE MONTHLY INDONESIAN GROSS DOMESTIC PRODUCT (GDP)

›˜ęŠȱž–ž—Š›ȱž‘ꊗŠǰȱŠœ›ž’—

Bulletin of Monetary Economics and Banking

Bank Indonesia

Patron

Board of Governors of Bank Indonesia

Editor-in-Chief Dr. Perry Warjiyo

Bank Indonesia, University of Indonesia, Indonesia

Board of Editors

Prof. Hal Hill, Australian National University, Australia

›˜ǯȱ˜—Š‘Š—ȱŠĴŽ—ǰ University Utara, Malaysia Prof. Niklas Wagner, University of Passau, Germany Prof. Brian M Lucey, Trinity College Dublin, Ireland Prof. Ahmet Faruk Aysan, Istanbul Sehir University, Turkey Prof. Dr. Anwar Nasution, University of Indonesia, Indonesia Prof. Dr. Miranda S. Goeltom, University of Indonesia, Indonesia Prof. Dr. Insukindro, Gadjah Mada University, Indonesia Prof. Dr. Iwan Jaya Azis, Cornell University, USA Prof. Takahiro Akita, Rikkyo University, Japan

›˜ǯȱ›ǯȱЎ”‘Š›ȱŠœŠ—ǰ Fordham University, USA

Prof. Dr. Masaaki Komatsu, Hiroshima Jogakuin University, Japan Dr. M. Syamsuddin, Bandung Institute of Technology, Indonesia

Dr. Iskandar Simorangkir, Bank Indonesia, University of Indonesia, Indonesia Dr. Solikin M. Juhro, Bank Indonesia, University of Indonesia, Indonesia Dr. Haris Munandar, Bank Indonesia, Indonesia

Managing Editor

Prof. Paresh Kumar Narayan, Deakin University, Australia

Dr. Ferry Syarifuddin, Bank Indonesia, Bogor Agriculture University, Indonesia

›ǯȱ—’ȱǯȱ•ęŠ—ȱŠ›Ž Š—’ǰ University of Indonesia, Indonesia

This bulletin is published by Bank Indonesia Institute, Bank Indonesia. Contents and research outcome in the articles of this bulletin are entirely the responsibility of the authors and do not represent Bank Indonesia’s views.

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Accredited - SK: 36A / E / KPT / 2016

Bulletin of Monetary Economics and Banking

Volume 20, Number 4, April 2018 CONTENT

Credit Risk Models for Five Major Sectors in Indonesia

Ndari Surjaningsih, Ina Nurmalia Kurniati, Reni Indriani ___________ 409 - 428 Impact of Financial Inclusion on Financial Stability Based on

Income Group Countries

Azka Azifah Dienillah, Lukytawati Anggraeni, Sahara ______________ 429 - 442

‘Žȱ—Š•¢œ’œȱ˜ȱ’œ”ȱ›˜ę•ŽȱŠ—ȱ’—Š—Œ’Š•ȱž•—Ž›Š‹’•’¢ȱ˜ȱ˜žœŽ‘˜•œ

in Indonesia

Arlyana Abubakar, Rieska Indah Astuti, Rini Oktapiani _____________ 443 - 474 Cryptocurrencies from Islamic Perspectives: The Case of Bitcoin

Ahmad Kameel Mydin Meera ___________________________________ 475 - 492

‘ŽȱŽ—˜–’—Š’˜—ȱ쎌ȱ˜—ȱ™Ž—’—ȱ‘›˜ž‘ȱ¡™Ž›’–Ž—Š•ȱ™™›˜ŠŒ‘

Bambang Juanda ______________________________________________ 493 - 528 Disaggregation and Forecasting of The Monthly Indonesian

Gross Domestic Product (GDP)

›˜ęŠȱž–ž—Š›ȱž‘ꊗŠǰȱŠœ›ž’— ____________________________ 529 - 556