A given amount of seigniorage revenue can be collected at either a high or a low rate of inflation. Thus there ray be … inflation equilibrium when, with the same fiscal policy, it could be at a lower inflation rate. We show that under rational … expectations the high inflation equilibrium is stable and the low inflation equilibrium unstable; under adaptive expectations or …

developing country set-up where the government employs seigniorage revenue to finance spending pre-stabilization, and faces …

with inflation performance. …

This paper explains in detail why proof platinum coin seigniorage would not be inflationary …