Hochreiter, Eduard; Rovelli, Riccardo - In: Banca Nazionale del Lavoro Quarterly Review 55 (2002) 223, pp. 391-415
We measure the amount of central bank seigniorage generated in three economies in transition and inquire to what extent seigniorage ultimately accrues to the government. We relate our findings to the institutional environment of the three countries. We find that, in parallel to the process of...
