The traditional theory of commercial banking explains maturity transformation and liquidity provision assuming no …

proportional power in the agreement. With a common currency, this is equivalent to a transfer of seigniorage revenues in its favour …

Recent empirical tests of dynamic optimal seigniorage models focus on their `smoothing' and long-run implications. The … models also imply that the optimal policies are forward looking; that is seigniorage revenues depend on expected future …

in favour of either form of monetary union. Seigniorage considerations argue against unilateral adoption of the U …

The paper uses a 'demand for seigniorage revenue' and 'supply of seigniorage revenue' approach to determine the … in public consumption spending will lower the inflation rate in the revenue-efficient region of the seigniorage Laffer … curve. When there are cuts in public sector capital formation, the inflation rate can rise even in the seigniorage …

This paper evaluates the contribution of seigniorage and implicit taxation of financial intermediation to the financing … mechanisms amount to an implicit tax on financial intermediation, whose revenue can be added to seigniorage. The paper sets out … justifies the measures of seigniorage and implicit taxation that are computed for the period 1980-1990. The results show that …