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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

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

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

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

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

Financial Crashes versus liquidity trap : the dilemma of monetary policy.

Giraud, Gaël - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2010

This paper considers a two-period monetary double auction with incomplete markets of securities and derivatives. Players may share heterogenous beliefs. Short positions in derivatives are constrained by collateral requirements. A central Bank stands ready to lend money or engage in...

Persistent link: https://www.econbiz.de/10009398285

The redistributive effects of monetary policy

Ledoit, Olivier - Institut für Volkswirtschaftslehre, … - 2011

We introduce a model of the economy as a social network. Two agents are linked to the extent that they transact with each other. This generates well-defined topological notions of location, neighborhood and closeness. We investigate the implications of our model for monetary economics. When a...

Persistent link: https://www.econbiz.de/10009358974

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