Seigniorage
DOWNLOAD
AUDIOBOOK
READ ONLINE
Download Seigniorage PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Seigniorage book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Seigniorage
DOWNLOAD
AUDIOBOOK
READ ONLINE
Author : Jens Reich
language : en
Publisher: Springer
Release Date : 2017-09-10
Seigniorage written by Jens Reich and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-10 with Business & Economics categories.
This book analyzes the revenues from the creation of currency by a central government. Adopting an institutional perspective, it develops a general theory of seigniorage by identifying three monetary regimes in economic history and the history of economic thought: a commodity currency, a fiat currency and a credit currency regime. As such it provides a modern analytical framework to analyze the nature of revenues from the creation of currency and their optimal height, whether currency is issued by means of minting coins, by printing and spending paper notes, by crediting private entities, or combinations thereof. The results of this analysis stretch beyond the immediate topic. The book establishes a relationship between the theory of seigniorage and government debt, the theory of the interest rate, the optimal rate of inflation, or the effectiveness and inflationary limits of outright monetary transactions.
Seigniorage An Argument For A National Currency
DOWNLOAD
AUDIOBOOK
READ ONLINE
Author : Franziska Schobert
language : en
Publisher:
Release Date : 2002
Seigniorage An Argument For A National Currency written by Franziska Schobert and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
The Political Economy Of Seigniorage
DOWNLOAD
AUDIOBOOK
READ ONLINE
Author : Ari Aisen
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2005-09-01
The Political Economy Of Seigniorage written by Ari Aisen and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-09-01 with categories.
While most economists agree that seigniorage is one way governments finance deficits, there is less agreement about the political, institutional, and economic reasons for relying on it. This paper investigates the main determinants of seigniorage using panel data on about 100 countries, for the period 1960-1999. Estimates show that greater political instability leads to higher seigniorage, especially in developing, less democratic, and socially polarized countries, with high inflation, low access to domestic and external debt financing and with higher turnover of central bank presidents. One important policy implication of this study is the need to develop institutions conducive to greater economic freedom as a means to lower the reliance on seigniorage financing of public deficits.
Seigniorage In The Ec
DOWNLOAD
AUDIOBOOK
READ ONLINE
Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1989-01-01
Seigniorage In The Ec written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989-01-01 with Business & Economics categories.
The paper measures the effects of the integration of European financial markets and lower inflation in the EMS on the revenue from seigniorage for the EC member countries with particular focus on the high inflation countries. Assuming that by 1992 all EC members participate fully in the EMS and reserve requirements are unified, the revenue from seigniorage will be reduced by about 2 percentage points of GDP in Greece and Portugal and 0.5-0.8 percentage points in Italy and Spain. Two different measures of seigniorage yield similar results regarding the change, but differ regarding the level.
Spending Seigniorage
DOWNLOAD
AUDIOBOOK
READ ONLINE
Author : Alain Ize
language : en
Publisher: International Monetary Fund
Release Date : 2006
Spending Seigniorage written by Alain Ize and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Banks and banking, Central categories.
This paper reviews how central banks allocate seigniorage, based on systematic crosscountry comparisons of their financial accounts. Central banks are classified as weak or strong, depending upon their structural profitability. Weak central banks typically (although not exclusively) operate in smaller and less wealthy countries, lack independence from their governments, and are burdened by compulsory transfers and low capital. Their operating expenditures, nonperforming assets, international reserve carrying costs, and international reserve accumulation needs are high. Governance appears to be a potential concern in many central banks, both weak and strong, with operating expenditures often adjusting upward for high profitability and capital accumulation adjusting downward for low profitability. The main policy implications are briefly reviewed.
Seigniorage In Europe
DOWNLOAD
AUDIOBOOK
READ ONLINE
Author : Vittorio Grilli
language : en
Publisher:
Release Date : 1988
Seigniorage In Europe written by Vittorio Grilli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Finance, Public categories.
In this paper, based on the experience of ten European countries, we study the relevance of seigniorage revenues in the recent past, and we speculate about their importance in the near future. We find that the members of the European community differ widely in the way they manage monetary policies. While for some of the European countries we could not identify any consistent seigniorage policy, for others seigniorage appears to have been an important component of their financing policies. This lack of consensus about the role of monetary policies is a potential source of conflict in designing common exchange rate policies. A formal analysis of the current status of the finances of the governments of the ten European countries also revealed that several of them are now following budget policies that are potentially incompatible with their long run solvency. This also represents a major obstacle toward monetary unification on exchange rate stability. Member countries will be faced with quite different needs for revenues and eliminating a (politically) flexible instrument like siegniorage may result in an unstable situation.
Money Demand And Seigniorage Maximizing Inflation
DOWNLOAD
AUDIOBOOK
READ ONLINE
Author : William Russell Easterly
language : en
Publisher: World Bank Publications
Release Date : 1992
Money Demand And Seigniorage Maximizing Inflation written by William Russell Easterly and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Demand for money categories.
The elasticity of substitution in transactions between money and bonds is a crucial determinant of the seigniorage- maximizing inflation rate and of whether the semi- elasticity of money demand with inflation increases with inflation.
Welfare Costs Of Inflation Seigniorage And Financial Innovation
DOWNLOAD
AUDIOBOOK
READ ONLINE
Author : Mr.Jose De Gregorio
language : en
Publisher: International Monetary Fund
Release Date : 1991-01-01
Welfare Costs Of Inflation Seigniorage And Financial Innovation written by Mr.Jose De Gregorio and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-01-01 with Business & Economics categories.
This paper examines the welfare effects of mitigating the costs of inflation. In a simple model where money reduces transaction costs, a fall in the costs of inflation is equivalent to financial innovation. This can be caused by paying interest on deposits, indexing money, or “dollarizing.” Results indicate that financial innovation raises welfare in low inflation economies while reducing it in high inflation economies, due to the offsetting indirect effect of higher inflation to finance the budget.
Distributing Seigniorage Under Emu
DOWNLOAD
AUDIOBOOK
READ ONLINE
Author : Daniel Gros
language : en
Publisher:
Release Date : 1998
Distributing Seigniorage Under Emu written by Daniel Gros and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Monetary policy categories.
Report Upon Coinage And Seigniorage
DOWNLOAD
AUDIOBOOK
READ ONLINE
Author : James Brooks
language : en
Publisher:
Release Date : 1852
Report Upon Coinage And Seigniorage written by James Brooks and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1852 with Coinage categories.