possible to reconcile the main theoretical implications of models of optimal taxation and seigniorage with the empirical …

. Money creation -- and by implication the seigniorage that flows from it as well as the price level fluctuations that derive …

This paper shows that the optimal extraction of seigniorage implies a strong tendency for inflation to fall over time …;tax-smoothingquot; theory of government deficits, which predicts that the inflation tax follows approximately a martingale, and of models of …

Aizenman designs an optimal seigniorage scheme that a minister should print money until his real balance is maximized …

determination of the revenue received from seigniorage. If the country goes further and uses a foreign money, it loses all … seigniorage. This paper uses an optimal inflation tax approach to analyze the consequences for optimal rates of income taxation … and welfare of the alternative exchange rate and monetary arrangements. From the viewpoint of seigniorage, a system in …

A given amount of seigniorage revenue can be collected at either a high or a low rate of inflation. Thus there ray be …