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The Evolution of Seigniorage during the Crisis
Emilia, Clipici - In: Ovidius University Annals, Economic Sciences Series XII (2012) 2, pp. 1044-1049
seigniorage. The mechanism that is used is the direct loan, from the Treasury (the Government’s cash desk) from the central bank …, which means creating a an additional monetary base. Basically, seigniorage is not different from the financing of the budget … structured as follows: conceptual aspects concerning the seigniorage in section 1, section 2 showing the models for calculate the …
Persistent link: https://www.econbiz.de/10010926029
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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/10011704682
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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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Insulation Impossible : Fiscal Spillovers in a Monetary Union.
Cooper, Russell; Kempf, Hubert; Peled, Dan - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2010
This paper studies the effects of monetary policy rules in a fiscal federation, such as the European Union. The focus of the analysis is the interaction between the fiscal policy of member countries (regions) and the monetary authority. Each of the countries structures its fiscal policy...
Persistent link: https://www.econbiz.de/10008520965
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Regional Debt in Monetary Unions: Is it Inflationary ?
Cooper, Russell; Kempf, Hubert; Peled, Dan - HAL - 2008
This paper studies the inflationary implications of interest bearing regional debt in a monetary union. Is this debt simply backed by future taxation with non inflationary consequences ? Or will the circulation of region debt induce monetization by a central bank ? We argue here that both...
Persistent link: https://www.econbiz.de/10010738623
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Insulation Impossible : Fiscal Spillovers in a Monetary Union
Cooper, Russell; Kempf, Hubert; Peled, Dan - HAL - 2010
This paper studies the effects of monetary policy rules in a fiscal federation, such as the European Union. The focus of the analysis is the interaction between the fiscal policy of member countries (regions) and the monetary authority. Each of the countries structures its fiscal policy...
Persistent link: https://www.econbiz.de/10010603663
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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
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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
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Warfare, Liquidity Crises, and Coinage Debasements in Burgundian Flanders, 1384 - 1482: Monetary or Fiscal Remedies?
Munro, John H. - University of Toronto, Department of Economics - 2009
seigniorage tax on bullion minted. They sought to maximize these revenues both by increasing this tax rate and by enticing much … history: Spanish monarchs, having agreed to abjure and forgo seigniorage taxes on coinage, did not engage in any debasements …
Persistent link: https://www.econbiz.de/10005248395
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The Coinages and Monetary Policies of Henry VIII (r. 1509-1547): Contrasts between Defensive and Aggressive Debasements
Munro, John H. - University of Toronto, Department of Economics - 2010
government derived a fee known as seigniorage. The central thesis of this study is that aggressive' coinage debasements were … seigniorage rate. In most, of not all cases, the fiscal motive was to finance warfare, even if indirectly. As this study shows …
Persistent link: https://www.econbiz.de/10008742964