Mach, Petr; Hanzák, Tomáš - In: Politická ekonomie 2004 (2004) 4, pp. 513-518
The government is able to acquire real goods through printing money. Because government does not create wealth through … printing money, this revenue, the seigniorage, is at the expense of the public, as the purchasing power of monetary units … decreases because of the issue of new money. The authors use the model of auctions to which the public comes with their money …
