Dynamic Seigniorage Theory: An Exploration
收藏NBER1989-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2869
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资源简介：
This paper shows that the optimal extraction of seigniorage implies a strong tendency for inflation to fall over time toward its socially optimal level. The point is made using a multi-period model in which (i) the government can finance deficits through bond issue or money creation, (ii) private
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美国国家经济研究局创建时间：
1989-02-01
