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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

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

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

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

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

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

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

Real Determinacy with Nominal Assets

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

Persistent link: https://www.econbiz.de/10005762762

Comparative Views on L. Walras and A. Cournot on The Regulation of Paper Money: Rules VS. Discretion at The End of The XIXth Century.

Alvarez, Andrés - UN - RCE - CID - 2010

This paper presents Léon Walras and Augustin Cournot views on monetary regulation. Important differences can be found in their views about the convenience of the issuing of paper money and fiat money in general. Whereas Walras is against bank notes, even if coming from a central bank, Cournot...

Persistent link: https://www.econbiz.de/10008522039

Inside and outside fiat money, gains to trade, and IS-LM

Dubey, Pradeep; Geanakoplos, John - In: Economic Theory 21 (2003) 2, pp. 347-397

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/10005147332