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Persistent link: https://www.econbiz.de/10003976806
Persistent link: https://www.econbiz.de/10003591221
This paper studies the effects of monetary policy rules in a fiscal federation, such as the European Union. The focus of the analysis is the interaction between the fiscal policy of member countries (regions) and the monetary authority. Each of the countries structures its fiscal policy...
Persistent link: https://www.econbiz.de/10013137047
This paper explains in detail why proof platinum coin seigniorage would not be inflationary …
Persistent link: https://www.econbiz.de/10013121639
determine when and if a seigniorage-maximizing inflation rate occurred and this way provide a rational on the development of … that the seigniorage-maximizing rate of inflation of the Venezuelan economy occurred around the first quarter of 2016 at a …The present work estimates collected seigniorage levels in the Venezuelan economy from 1994Q1 to 2018Q2 and tries to …
Persistent link: https://www.econbiz.de/10012906561
inflation rate. Evidence is also presented that suggests prices are being driven by increases in the money supply rather than by … changes in price setting behaviour. The paper additionally uses the estimated elasticity on the inflation variable to … calculate the maximum level of seigniorage revenue that could be raised in the economy. Actual seigniorage levels increased …
Persistent link: https://www.econbiz.de/10013143318
inflation tax Laffer curve before abandoning the currency. Estimates of the seignorage-maximizing rate derive from a short … percent, generally exceeding monthly inflation …
Persistent link: https://www.econbiz.de/10012893482
Bank of Zimbabwe (RBZ) operated on the correct side of the inflation tax Laffer curve. Estimated seignorage maximizing … prices for the Old Mutual insurance company's shares, which trade in London and Harare, serve as the measure of inflation … 242 to 315 percent and exceeded all monthly inflation rates …
Persistent link: https://www.econbiz.de/10012856378
solutions, all have failed as these attempts implicitly assume perfectly-correct inflation statistics. Examining these … assumptions, we discover that not only are the inflation numbers materially flawed, but more so, there are significant incentives … for government entities to under-report inflation. With this, we find that to explain the Equity Premium Puzzle, inflation …
Persistent link: https://www.econbiz.de/10012838903
This paper studies the effects of monetary policy rules in a fiscal federation, such as the European Union. The focus of the analysis is the interaction between the fiscal policy of member countries (regions) and the monetary authority. Each of the countries structures its fiscal policy...
Persistent link: https://www.econbiz.de/10013138210