revenue from seigniorage for the EC member countries with particular focus on the high inflation countries. Assuming that by …The paper measures the effects of the integration of European financial markets and lower inflation in the EMS on the … 1992 all EC members participate fully in the EMS and reserve requirements are unified, the revenue from seigniorage will be …

This paper analyzes, in a public finance context, how the optimal use of the inflation and the consumption tax is … by 1992. Two main questions are addressed: first, how the constraint of having to share a common inflation tax, in order … to preserve fixed-exchange rates, influences the optimal policy decisions concerning the inflation tax; secondly, how the …

We show that the presence of nominal non-indexed government debt could give rise to more than one equilibrium inflation …

This paper focuses on the role of debt maturity in managing the government’s incentives to use opportunistic inflation … powerful instrument to affect the time profile of the inflation tax base and, hence, to mitigate the distortions introduced by …

The paper presents a DGE model designed as a core projection tool to support monetary policy in inflation-targeting (IT …