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Did Monetary Laxity in Japan Cause the Bubble?

Posen, Adam S. - In: CESifo Forum 4 (2003) 4, pp. 21-26

Persistent link: https://www.econbiz.de/10005013171

Seigniorage Revenue and Inflation Tax in Turkish economy

doğru, bülent - Volkswirtschaftliche Fakultät, … - 2013

The goal of this study is to test the implication of optimal seigniorage theory that in the long run higher tax rates … 1980-2011. We estimate the Mankiw’s (1987) optimal seigniorage model for Turkish Economy with the cointegration and vector …

Persistent link: https://www.econbiz.de/10011260525

Seigniorage Earnings of Commercial Banks and State Bank of Pakistan

Arby, Muhammad Farooq - Volkswirtschaftliche Fakultät, … - 2006

The paper reviews the trend of seigniorage earnings by State Bank of Pakistan and commercial banks. It is found that … seigniorage revenue of the SBP has declined overtime which indicates autonomy of the central bank as well as less reliance of the … government on SBP’s resources for budget financing. In general, a direct relationship has been observed between seigniorage and …

Persistent link: https://www.econbiz.de/10005616811

Uncertainty, Indeterminacy and Shannon's Derivation of Entropy: Implications for Policy Administration - A Systems Theoretical Approach

Author: A.G. Perison - EconWPA - 2001

Most prices and interest rates display fluctuating levels that embody extractable energy and equivalent amounts of money. Such fluctuations are also associated with varying degrees of uncertainty. Shannon's derivations of spectral entropy and information content offer computational techniques...

Persistent link: https://www.econbiz.de/10005561278

Endogenous Money, Inflation and Welfare

Henriksen, Espen; Kydland, Finn - In: Review of Economic Dynamics 13 (2010) 2, pp. 470-486

This paper addresses the classic question: what are the welfare costs of inflation. We employ a model in which the ratios of currency to deposits and currency to reserves are endogenously determined. The model distinguishes quantitatively between three sources of welfare cost of inflation, and...

Persistent link: https://www.econbiz.de/10008516668

Currency in circulation: global trends and the situation in the Czech republic

Cimburek, Jan; Řežábek, Pavel - In: Politická ekonomie 2008 (2008) 6, pp. 739-758

This paper deals with the evolution of currency in circulation and world trends in selected developed countries. We argue against the opinion that money in their cash form (i.e. notes and coins) will seize to exist within the horizon of fifteen years and that only electronic means of payment...

Persistent link: https://www.econbiz.de/10008754951

The Excess Demand Theory of Money

Kehrwald, Bernie - Volkswirtschaftliche Fakultät, … - 2014

This paper introduces a new monetary theory. A simple model is described in which a central bank sets the interest rate in a way that the excess demand for credits equals the preferred amount of money. It is compatible with the Keynesian liquidity preference theory and the neoclassical loanable...

Persistent link: https://www.econbiz.de/10011156995

Inside and Outside Money, Gains to Trade, and IS-LM

Dubey, Pradeep; Geanakoplos, John - Cowles Foundation for Research in Economics, Yale University - 2000

We build a one-period general equilibrium model with money. Equilibrium exists, and fiat money has positive value, as long as the ratio of outside money to inside money is less than the gains to trade available at autarky. We show that the nominal effects of government fiscal and monetary policy...

Persistent link: https://www.econbiz.de/10004990799

Credit Cards and Inflation

Geanakoplos, John; Dubey, Pradeep - Cowles Foundation for Research in Economics, Yale University - 2009

The introduction and widespread use of credit cards increases trading efficiency but, by also increasing the velocity of money, it causes inflation, in the absence of monetary intervention. If the monetary authority attempts to restore pre-credit card price levels by reducing the money supply,...

Persistent link: https://www.econbiz.de/10005016204

Real Determinacy with Nominal Assets

Dubey, Pradeep; Geanakoplos, John - Cowles Foundation for Research in Economics, Yale University - 2003

We build a finite horizon model with inside and outside money, in which interest rates, price levels and commodity allocations are determinate, even though asset markets are incomplete and asset deliveries are purely nominal.

Persistent link: https://www.econbiz.de/10005762591