returns, random growth, and locational fundamentals. To do so, we examine the distribution of regional population in Japan …

this line of research to Asia. Japan imposed its system of well-defined property rights in land on some of its Asian … colonies, including Korea, Taiwan and Palau. In 1939 Japan began to survey and register private land in its island colonies, an … effort that was completed in Palau but interrupted elsewhere by World War II. Within Micronesia robust economic development …

This paper shows that the optimal extraction of seigniorage implies a strong tendency for inflation to fall over time …

command over real resources through its ability to issue fiat money. They are (1) seigniorage (the change in the monetary base …

. Monopoly over seigniorage is a source of political power and a valuable lifeline when sovereignty is threatened. Moreover a …

seigniorage by issuing fiat money in echange for real resources. One insightful result is that , with contemporaneous perceptionof … solution for maximal seigniorage is the reputatoinal equilibrium. More generally , the analysis shows that the objective of … maximal seigniorage produces an equilibrium inflation rate equal either to a generalization of the Friedman elasticity …

The European Monetary Union (EMU) will involve socialization of the existing seigniorage wealth of the national central … will suffer per capita wealth losses of between 406 and 182 ecus. This paper quantifies the gains and losses in seigniorage …