Seigniorage and Fixed Exchange Rates: An Optimal Inflation Tax Analysis
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A country that decides to fix its exchange rate thereby gives up control over its own inflation rate and the determination of the revenue received from seigniorage. If the country goes further and uses a foreign money, it loses all seigniorage. This paper uses an optimal inflation tax approach to
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美国国家经济研究局创建时间：
1981-10-01
