Alogoskoufis, George; Christodoulakis, Nikos - C.E.P.R. Discussion Papers - 1990
This paper investigates the relation between the rise in external debt and fiscal developments in Greece. We use an … reduction in (non-interest) government expenditure. They also suggest that in the case of Greece there is no further scope for a … steady-state increase in seigniorage revenue. In fact, the inflation rate slightly exceeds the seigniorage-maximizing rate …