Irma Hindrayanto


Irma Hindrayanto

Economics and Research Division
Phone: +31 20 5246284
E-mail: Irma Hindrayanto 

Short bio

Irma Hindrayanto is an econometrician and inflation forecaster at the Economics and Research Division of De Nederlandsche Bank. She holds a PhD from the Vrije Universiteit (Amsterdam).


2011 - Ph.D. in Econometrics, Vrije Universiteit, Amsterdam
2003 - MSc in Econometrics, Vrije Universiteit, Amsterdam

Research interests

  • Macroeconomic modelling
  • Time series analysis and forecasting

Working papers

Modeling the business and financial cycle in a multivariate structural time series model (with Jasper de Winter, Siem Jan Koopman and Anjali Chouhan), DNB Working Paper 573, 2017. Download

Publications in refereed journals

Irma Hindrayanto, Anna Samarina and Irina Stanga (2019), Is the Phillips curve still alive? Evidence from the euro area, Economics Letters 174, 149-152. Download

Irma Hindrayanto, Jan Jacobs, Denise Osborn en Jing Tian (2018), Trend-cycle-seasonal interactions: identification and estimation, Macroeconomic Dynamics. Download

Gabriele Galati, Irma Hindrayanto, Siem Jan Koopman and Marente Vlekke (2016), Measuring financial cycles in a model-based analysis: Empirical evidence for the United States and the Euro Area, Economics Letters 145, 83–87. Download

Irma Hindrayanto, Siem Jan Koopman and Jasper de Winter (2016), Forecasting and nowcasting economic growth in the euro area using factor models, International Journal of Forecasting 32(4), 1284–1305. Download

Irma Hindrayanto, John Aston, Siem Jan Koopman and Marius Ooms (2013), Modelling trigonometric seasonal components for monthly economic time series, Applied Economics 45(21), 3024-3034. Download 

Irma Hindrayanto, Siem Jan Koopman and Marius Ooms (2010), Exact maximum likelihood estimation for non-stationary periodic time series models, Computational Statistics & Data Analysis 54(11), 2641-2654. Download

Siem Jan Koopman, Marius Ooms and Irma Hindrayanto (2009), Periodic unobserved cycles in seasonal time series with an application to US unemployment, Oxford Bulletin of Economics and Statistics 71(5), 683-713. Download

Publications in books

Siem Jan Koopman, Marius Ooms and Irma Hindrayanto (2011), A multivariate periodic unobserved components time series analysis for sectoral U.S. employment, in: William R. Bell, Scott H. Holan and Tucker S. McElroy (eds), Economic Time Series: Modeling and Seasonality, Chapman & Hall, CRC Press. Download

Other publications

WGEM Team on the Natural Rate of Interest (2018), The natural rate of interest: estimates, drivers, and challenges to monetary policy, ECB Occasional Paper No. 217. Download

Dennis Bonam, Peter van Els, Jan Willem van den End, Leo de Haan and Irma Hindrayanto (2018), The natural rate of interest from a monetary and financial perspective, DNB Occasional Studies No. 16-3. Download

WGEM Team on Real and Financial Cycles (2018), Real financial cycles in EU countries: Stylised facts and modelling implications, ECB Occasional Paper No. 205. Download

Johan Verbruggen and Irma Hindrayanto (2013), Arbeid hamsteren tijdens kredietcrisis (Labour hoarding during credit crisis), Economisch Statistische Berichten 4656, 166-169. Download


Latest update: January 2019