Seigniorage

On the Revenue from the Creation of Money

Business & Finance, Economics, Public Finance, Macroeconomics
Cover of the book Seigniorage by Jens Reich, Springer International Publishing
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Author: Jens Reich ISBN: 9783319631240
Publisher: Springer International Publishing Publication: September 10, 2017
Imprint: Springer Language: English
Author: Jens Reich
ISBN: 9783319631240
Publisher: Springer International Publishing
Publication: September 10, 2017
Imprint: Springer
Language: English

This book analyzes the revenues from the creation of currency by a central government. Adopting an institutional perspective, it develops a general theory of seigniorage by identifying three monetary regimes in economic history and the history of economic thought: a commodity currency, a fiat currency and a credit currency regime. As such it provides a modern analytical framework to analyze the nature of revenues from the creation of currency and their optimal height, whether currency is issued by means of minting coins, by printing and spending paper notes, by crediting private entities, or combinations thereof. 

The results of this analysis stretch beyond the immediate topic. The book establishes a relationship between the theory of seigniorage and government debt, the theory of the interest rate, the optimal rate of inflation, or the effectiveness and inflationary limits of outright monetary transactions.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

This book analyzes the revenues from the creation of currency by a central government. Adopting an institutional perspective, it develops a general theory of seigniorage by identifying three monetary regimes in economic history and the history of economic thought: a commodity currency, a fiat currency and a credit currency regime. As such it provides a modern analytical framework to analyze the nature of revenues from the creation of currency and their optimal height, whether currency is issued by means of minting coins, by printing and spending paper notes, by crediting private entities, or combinations thereof. 

The results of this analysis stretch beyond the immediate topic. The book establishes a relationship between the theory of seigniorage and government debt, the theory of the interest rate, the optimal rate of inflation, or the effectiveness and inflationary limits of outright monetary transactions.

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