reduction in the rate of economic growth if it is financed with an increase in the seigniorage tax rate. Raising the seigniorage … the required seigniorage tax rate alternative would. Switching from seigniorage to income taxation as a source of … increase in the government spending requirements is by means of a marginal increase in the seigniorage tax rate. Finally, under …

seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the … strategies. Our results are robust to a wide range of sensitivity tests. -- Corruption ; seigniorage ; inflation ; growth. …