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Seigniorage in the 21st Century : A Study of the Profits from Money Creation in the United Kingdom and Denmark

Bjerg, Ole - 2017

This paper develops a new theory of seigniorage suited to modern economies where the majority of money is created not …. We identify four different forms of seigniorage that take account of the modern institutional separation between the …' and ‘money users'. The new typology differentiates between seigniorage profits arising from interest rate spreads on …

Persistent link: https://www.econbiz.de/10012962590

How flexible can inflation targeting be and still work?

Kuttner, Kenneth N.; Posen, Adam S. - 2011

This paper takes up the issue of the flexibility of inflation targeting regimes, with the specific goal of determining whether the monetary policy of the Bank of England, which has a formal inflation target, has been any less flexible than that of the Federal Reserve, which does not have such a...

Persistent link: https://www.econbiz.de/10010323567

Midas, Transmuting All, into Paper : The Bank of England and the Banque de France During the Revolutionary and Napoleonic Wars

Chadha, Jagjit - 2013

This paper assesses Revolutionary and Napoleonic wartime economic policy. Suspension of gold convertibility in 1797 allowed the Bank of England to nurture British monetary orthodoxy. The Order of the Privy Council suspended gold payments on Bank of England notes and afforded simultaneous...

Persistent link: https://www.econbiz.de/10013075548

An Overhaul of Doctrine : The Underpinning of U.K. Inflation Targeting

Nelson, Edward - 2008

This paper argues that the inflation targeting regime prevailing in the United Kingdom is not the result of a change in policymaker objectives. By conducting an analysis of U.K. policymakers that parallels Romer and Romer's (2004) study of Federal Reserve Chairmen, I demonstrate that policymaker...

Persistent link: https://www.econbiz.de/10012726462

Shoe-Leather Costs Reconsidered

Chadha, Jagjit S.; Haldane, Andrew; Janssen, Norbert - 1999

It has recently been suggested by Robert Lucas that "shoe-leather" costs of inflation may amount to as much as 1% of GNP in the United States. This paper assesses the U.K. evidence for the period 1970-1994. Similar estimates to those of Lucas are found using his original specification, but a...

Persistent link: https://www.econbiz.de/10014208582

Electronic money, currency demand and seignorage loss in the G10 countries

Boeschoten, Willem Cornelis - 1996

Persistent link: https://www.econbiz.de/10000947894

The demand for currency relative to deposits in the UK, 1870-1913

Rodrik-Bali, Ghila - 1983

Persistent link: https://www.econbiz.de/10002719406

Money, income and currency substitution : Evidence from three countries

Batten, Dallas S.; Hafer, R. W. - In: Review / Federal Reserve Bank of St. Louis 67 (1985) 5, pp. 27-35

Persistent link: https://www.econbiz.de/10001873347

Money demand stability and currency substitution in six European countries : (1980 - 1992)

Filosa, Renato - 1995

Persistent link: https://www.econbiz.de/10013431804

Post inflation targeting monetary policy : a study of Britain, Japan and the United States

Monadjemi, Mehdi S.; Lodewijks, John Kees - In: Expert journal of economics 2 (2014) 1, pp. 21-29

There is now considerable disquiet about the appropriate monetary strategy that central banks should follow in the aftermath of the global financial crisis. Several influential commentators have called for the abandonment of inflation targeting. Empirical research examining three major economies...

Persistent link: https://www.econbiz.de/10012056964

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