Mach, Petr; Hanzák, Tomáš - In: Politická ekonomie 2004 (2004) 4, pp. 513-518
printing money, this revenue, the seigniorage, is at the expense of the public, as the purchasing power of monetary units … model, the authors develop the formula for seigniorage in continuous time. The seigniorage calculated in this way is lower … than the seigniorage calculated upon the assumption of discrete changes in economic variables. …
