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independent monetary policy. This Paper considers an additional factor in this debate, namely the decrease of seigniorage for … Switzerland joined EMU at that time, about half of the seigniorage stemming from the previous Swiss franc currency circulation … third largest contributor of seigniorage in absolute terms after Germany and Spain. In relative terms, the Swiss per capita …
Persistent link: https://www.econbiz.de/10005656321
This paper provides estimates of seigniorage in the United States and relates those estimates to total tax receipts and …-crisis operating framework has increased both the level of seigniorage, but also its relative importance in total tax receipts. We also … find that seigniorage as a share of corporate tax accruals has increased under this system. Finally, our estimates indicate …
Persistent link: https://www.econbiz.de/10013292209
Das Papier untersucht die durch eine Europäische Währungsunion zu erwartenden Änderungen der Geldschöpfungsgewinne der Mitgliedsländer. Dazu werden die zwischen 1980 und 1995 erzielten einzelstaatlichen Geldschöpfungsgewinne nach dem monetären und dem Opportunitätskostenkonzept...
Persistent link: https://www.econbiz.de/10010317591
This study investigates the evolution of central bank profits as fiscal revenue (or: seigniorage) before and in the … as monetary policies are seeing their gradual "normalization". Seigniorage exposes the connections between currency … seigniorage, and in normal times seigniorage largely derives from the note issue supplemented by "own" resources. Essentially, the …
Persistent link: https://www.econbiz.de/10012142963
Das Papier untersucht die durch eine Europäische Währungsunion zu erwartenden Änderungen der Geldschöpfungsgewinne der Mitgliedsländer. Dazu werden die zwischen 1980 und 1995 erzielten einzelstaatlichen Geldschöpfungsgewinne nach dem monetären und dem Opportunitätskostenkonzept...
Persistent link: https://www.econbiz.de/10011526517
This paper explains in detail why proof platinum coin seigniorage would not be inflationary …
Persistent link: https://www.econbiz.de/10013121639
possible to reconcile the main theoretical implications of models of optimal taxation and seigniorage with the empirical …
Persistent link: https://www.econbiz.de/10013122486
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
This study investigates the evolution of central bank profits as fiscal revenue (or: seigniorage)before and in the … monetary policies are seeing their gradual“normalization.”Seigniorage exposes the connections between currency issuance and … normal times seigniorage largely derives from the note issue supplementedby “own” resources. Essentially, the central bank …
Persistent link: https://www.econbiz.de/10012910166
Unlike most hyperinflations, during Zimbabwe's recent hyperinflation, as in Revolutionary France, the currency ended before the regime. The empirical results here suggest that the Reserve Bank of Zimbabwe operated on the correct side of the inflation tax Laffer curve before abandoning the...
Persistent link: https://www.econbiz.de/10012893482