Semarang City, January 23, 2025 – located at the Sudharto Building, Diponegoro University, Head of the Department of Economics and Development Studies, Prof. Akhmad Syakir Kurnia, S.E., M.Sc., Ph.D., was officially inaugurated as a Professor of Diponegoro University in the field of Economics.
His inaugural speech was entitled “Policy Credibility: A Critical Review of Behavioral Macroeconomics”. In the speech, Prof. Syakir highlighted that one of the main causes of ineffective economic policies is the weak commitment to maintaining policy credibility. This weak commitment causes uncertainty in the market, worsening inflation expectations, and hampers investment and economic growth.
Presentation of the Professor Award Plaque by UNDIP Chancellor, Prof. Suharnomo to Prof. Syakir
Government inconsistency in setting fiscal and monetary policies often triggers erratic fluctuations in inflation and exchange rates. In addition, fiscal dominance is one of the reasons why the Central Bank is “forced” to sacrifice its monetary credibility. One example is the monetization of the deficit through the purchase of securities by the Central Bank. Through his paper, Prof. Syakir offers new insights by integrating a behavioral approach into economic policy analysis. He emphasizes the importance of strengthening institutions, transparency of communication, and coordination between institutions to maintain policy credibility in the face of increasingly complex economic dynamics.
