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Dynamic Seigniorage Theory : An Exploration
Obstfeld, Maurice - 1989
This paper shows that the optimal extraction of seigniorage implies a strong tendency for inflation to fall over time … inflation rate each period in a discretionary manner. One way to view the model is as a synthesis of the "tax-smoothing" theory …
Persistent link: https://www.econbiz.de/10012476187
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Seigniorage, Operating Rules and the High Inflation Trap
Bruno, Michael - 1987
A given amount of seigniorage revenue can be collected at either a high or a low rate of inflation. Thus there ray be …
Persistent link: https://www.econbiz.de/10012476655
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Can the Central Bank Alleviate Fiscal Burdens?
Reis, Ricardo - 2016
Central banks affect the resources available to fiscal authorities through the impact of their policies on the public debt, as well as through their income, their mix of assets, their liabilities, and their own solvency. This paper inspects the ability of the central bank to alleviate the fiscal...
Persistent link: https://www.econbiz.de/10012455666
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Can the Central Bank Alleviate Fiscal Burdens?
Reis, Ricardo - 2017
Central banks affect the resources available to fiscal authorities through the impact of their policies on the public debt, as well as through their income, their mix of assets, their liabilities, and their own solvency. This paper inspects the ability of the central bank to alleviate the fiscal...
Persistent link: https://www.econbiz.de/10012948206
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Central Bank Independence and Financing Government Spending
Berument, Hakan - 2018
levels of central bank independence generate less seigniorage revenue …
Persistent link: https://www.econbiz.de/10012915287
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Can the Central Bank Alleviate Fiscal Burdens?
Reis, Ricardo - 2017
Central banks affect the resources available to fiscal authorities through the impact of their policies on the public debt, as well as through their income, their mix of assets, their liabilities, and their own solvency. This paper inspects the ability of the central bank to alleviate the fiscal...
Persistent link: https://www.econbiz.de/10012966585
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The Mystique Surrounding the Central Bank's Balance Sheet, Applied to the European Crisis
Reis, Ricardo - 2013
In spite of the mystique behind a central bank's balance sheet, its resource constraint bounds the dividends it can distribute by the present value of seignorage, which is a modest share of GDP. Moreover, the statutes of the Federal Reserve or the ECB make it difficult for it to redistribute...
Persistent link: https://www.econbiz.de/10012459932
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Central Bank Responsibility, Seigniorage, and Welfare
Bhattacharya, Joydeep; Haslag, Joseph - 2015
treasury (central bank). We restrict the amount of seigniorage collected to be non-negative, and also require that the …
Persistent link: https://www.econbiz.de/10014173607
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Seigniorage Channel and Monetary Effectiveness in Flexible Price Economy
Huang, Guangming - 2022
Replacing government lump-sum transfers in the household budget by the seigniorage channel in a modified RBC economy … outstanding characteristics of the seigniorage channeled monetary economy - integrality, interactive pricing, and Pareto … monetary economics. Many vexing issues in macroeconomics are clarified through the lens of the seigniorage channeled monetary …
Persistent link: https://www.econbiz.de/10014077456
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Dynamic seigniorage theory : an exploration
Obstfeld, Maurice - 1991
Persistent link: https://www.econbiz.de/10013421845