Seigniorage Wealth and Redistribution in Central and Eastern European Countries
The analysis presented in this article focuses on seigniorage revenues in five Central and Eastern European Countries: Bulgaria, the Czech Republic, Hungary, Poland and Romania. A comprehensive discrete period accounting framework for measuring the sources and uses of seigniorage in the 1990s is presented. The framework is based upon the gross concept of seigniorage that defines seigniorage in the broadest possible sense as the sum of revenues resulting from the monopoly power to issue money. Legal, institutional and operational details which are relevant for the creation of base money in a country are taken into account. The article reveals similarities and differences in seigniorage wealth between the countries under scrutiny, evaluates the magnitude of seigniorage and shows that accession to the European Monetary Union will create significant once-and-for-all gains of seigniorage wealth for the countries resulting from redistributing seigniorage wealth.
Year of publication: |
2003
|
---|---|
Authors: | Cukrowski, Jacek ; Fischer, Manfred |
Published in: |
Post-Communist Economies. - Taylor & Francis Journals, ISSN 1463-1377. - Vol. 15.2003, 1, p. 27-46
|
Publisher: |
Taylor & Francis Journals |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Regional income convergence in Europe: a Bayesian model averaging perspective
Schoiswohl, Florian, (2012)
-
The causes of the economic crisis
Bratenstein, Roger, (1975)
-
Unternehmer zur Führung berufen : über den wirtschaftlichen Führungsanspruch des Unternehmers
Fischer, Manfred, (1963)
- More ...