Seigniorage in continuous time
نویسندگان
چکیده
منابع مشابه
Seigniorage-maximizing inflation
What is the seigniorage-maximizing level of inflation? Four models formulae for the seigniorage maximizing inflation rate (SMIR) are compared. Two sticky-price models arrive at very different quantitative recommendations although both predict somewhat lower SMIRs than Cagan’s formula and a variant of a .ex-price model due to Kimbrough (2006). The models differ markedly in how inflation distorts...
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ژورنال
عنوان ژورنال: Politická ekonomie
سال: 2004
ISSN: 0032-3233,2336-8225
DOI: 10.18267/j.polek.473