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ACTIVE AND PASSIVE SEIGNIORAGE REVENUES: THE CASE FOR TURKEY 1970-1997
Halicioglu, Ferda - EconWPA - 2005
This study is concerned with the components of the total seigniorage revenues that have been collected by the Turkish … expenditures partially. This form of monetary finance is related to active seigniorage revenues. On the other hand, as real …
Persistent link: https://www.econbiz.de/10005076728
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A better way to account for fiat money at the Central Bank
Colignatus, Thomas - EconWPA - 2005
Proper monetary accounting rules are: (1) Central Banks should conform to the practice of the US Federal Reserve to distinguish its Balance Sheet from its Statement of Conditions. (2) Fiat money should not appear as a liability in a Balance Sheet. (3) The Central Bank should not record more...
Persistent link: https://www.econbiz.de/10005408128
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Seignirage Sharing and Dollarization, Central Banking (U.K.), Vol. X, No.4, 77-88.
Bogetic, Zeljko - EconWPA - 2005
Dollarization is becoming a viable option for a number of countries, but the loss of seigniorage is a major obstacle …. The paper looks at the major seigniorage sharing arrangements available and issues that arise in the design of the new …
Persistent link: https://www.econbiz.de/10005408188
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Central Bank Seigniorage: Czech Republic 1993-1997
Cukrowski, Jacek; Stavrev, Emil - EconWPA - 2001
In this paper the concept of total gross seigniorage is used to analyze sources and uses of central bank seigniorage … revenues in the Czech Republic during the period 1993-1997. A comprehensive framework for measuring total gross seigniorage and … its main components is presented and estimates of seigniorage revenues (sources and uses) are computed and analyzed. The …
Persistent link: https://www.econbiz.de/10005561208
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Uncertainty, Indeterminacy and Shannon's Derivation of Entropy: Implications for Policy Administration - A Systems Theoretical Approach
Author: A.G. Perison - EconWPA - 2001
Most prices and interest rates display fluctuating levels that embody extractable energy and equivalent amounts of money. Such fluctuations are also associated with varying degrees of uncertainty. Shannon's derivations of spectral entropy and information content offer computational techniques...
Persistent link: https://www.econbiz.de/10005561278
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The Liquidity Effect: Identifying Permanent and Transitory Components of Money Growth
Crowder, William J. - EconWPA - 1997
One strand of the recent literature on the monetary transmission process has focued upon the weak empirical evidence of a liquidity effect in the U.S. This study uses structural VAR methods to reexamine the liquidity effect.
Persistent link: https://www.econbiz.de/10005076847
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Equity Returns and Inflation: The Puzzlingly Long Lags
Lothian, James R.; McCarthy, Cornelia H.. - EconWPA - 2001
This paper examines data for stock prices and price levels of 14 developed countries during the post-WWII era and compares their behavior in that sample with behavior over the past two centuries in the UK and the US. Contrary to much of the literature of the past several decades, we find that...
Persistent link: https://www.econbiz.de/10005124935
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Integration or Segmentation of Malaysian Equity Market: An Analysis of Pre- and Post- Capital Controls
Ibrahim, Mansor H. - EconWPA - 2004
The paper implements time series techniques of cointegration and vector autoregression (VAR) to assess the integration …
Persistent link: https://www.econbiz.de/10005125066
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THE FRENCH-GERMAN INTEREST RATE DIFFERENTIAL SINCE GERMAN
Henry, Jerome; Weidmann, Jens - EconWPA - 2005
We investigate the consequences of the 1992-1993 EMS crises, which resulted in the widening of the exchange rate bands, on the long-run linkages between the daily 1-month-Eurorates on German Mark, US-Dollar and French Franc. First, within a Gaussian VAR, both the US Eurorate and the...
Persistent link: https://www.econbiz.de/10005125545
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AN IMPROVEMENT OF THE TANZI METHOD FOR THE ESTIMATION OF ITALIAN UNGERGROUND ECONOMY
Bovi, Maurizio - EconWPA - 2004
This paper deals with the Tanzi method for the estimation of underground economy. The approach is discussed and modified. Refinements on the variables and on the econometric technique are proposed. The “adjusted” Tanzi method is then used to estimate the shadow economy in Italy along...
Persistent link: https://www.econbiz.de/10005125933