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Regional Debt in Monetary Unions : Is it Inflationary?

Cooper, Russell; Kempf, Hubert; Peled, Dan - 2010

This paper studies the inflationary implications of interest bearing regional debt in a monetary union. Is this debt simply backed by future taxation with no inflationary consequences? Or will the circulation of region debt induce monetization by a central bank? We argue here that both outcomes...

Persistent link: https://www.econbiz.de/10014190466

Coin Seigniorage and Inflation

Fullwiler, Scott - 2011

This paper explains in detail why proof platinum coin seigniorage would not be inflationary …

Persistent link: https://www.econbiz.de/10013121639

Seigniorage, (Hyper)Inflation and Money Demand in Venezuela in the XXI Century : A First Estimation Attempt

Saboin, Jose Luis - 2018

The present work estimates collected seigniorage levels in the Venezuelan economy from 1994Q1 to 2018Q2 and tries to … determine when and if a seigniorage-maximizing inflation rate occurred and this way provide a rational on the development of … hyperinflation in the country. Results suggest that the Venezuelan government acts as a seigniorage maximizer. The model predicts …

Persistent link: https://www.econbiz.de/10012906561

Central Bank Digital Currency, Inflation Tax, and Central Bank Independence

Kwon, Ohik - 2020

Can introducing Central Bank Digital Currency (CBDC) improve social welfare? We construct a dual currency model to study whether introducing CBDC with a record- keeping technology can reduce tax evasion incentives, and further achieve a better al- location than in a cash-only economy. In our...

Persistent link: https://www.econbiz.de/10012836306

Central Bank Digital Currency, Tax Evasion, Inflation Tax, and Central Bank Independence

Kwon, Ohik; Lee, Seungduck; Park, Jaevin - 2021

Can introducing Central Bank Digital Currency (CBDC) improve social welfare? We construct a dual currency model to study whether introducing CBDC with a recordkeeping technology can reduce tax evasion incentives in cash transactions, and further achieve a better allocation than in a cash-only...

Persistent link: https://www.econbiz.de/10013312670

Are Fiscal Budget Deficits Inflationary? Evidence in the Case of Tanzania

Ndanshau, Michael O.A. - 2020

This study has employed (bounds) Autoregressive Distributive Lag (ARDL) cointegration and Granger causality tests to empirically establish the relationship between budget deficits, money supply and inflation in Tanzania during the period 1967-2018. The study established inflation, money supply...

Persistent link: https://www.econbiz.de/10012829845

Is monetary financing inflationary? : a case study of the Canadian economy, 1935 - 75

Ryan-Collins, Josh - 2015

Historically high levels of private and public debt coupled with already very low short-term interest rates appear to limit the options for stimulative monetary policy in many advanced economies today. One option that has not yet been considered is monetary financing by central banks to boost...

Persistent link: https://www.econbiz.de/10011389179

Economic policy in India : for economic stimulus, or for austerity and volatility?

Sen, Sunanda; DasGupta, Zico - 2014

The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...

Persistent link: https://www.econbiz.de/10010385761

What modern monetary theory is, and what it is not

Carnevali, Emilio; Fontana, Giuseppe - In: European journal of economics and economic policies : … 20 (2023) 1, pp. 56-66

Modern monetary theory (MMT) has grown in popularity in recent years. Several central bankers have made passing comments about it. However, the publication of two papers by Drumetz/Pfister of the Banque de France in 2021 represents the first attempt at a more systematic assessment of MMT by two...

Persistent link: https://www.econbiz.de/10014433715

Managing the inflation-output trade-off with public debt portfolios

Chafwehé, Boris; De Beauffort, Charles; Oikonomou, Rigas - 2024

When taxes do not sufficiently adjust to government debt levels, the Fiscal Theory of the Price Level predicts that other variables, such as inflation and output gap, must adjust to ensure the solvency of public finances. We study the role of optimal debt maturity portfolios in this context,...

Persistent link: https://www.econbiz.de/10014578187

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