Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451928300
Total Pages : 20 pages
Book Rating : 4.03/5 ( download)
Book Synopsis Seigniorage in the EC by : International Monetary Fund
Download or read book Seigniorage in the EC written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-01-01 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper measures the effects of the integration of European financial markets and lower inflation in the EMS on the revenue from seigniorage for the EC member countries with particular focus on the high inflation countries. Assuming that by 1992 all EC members participate fully in the EMS and reserve requirements are unified, the revenue from seigniorage will be reduced by about 2 percentage points of GDP in Greece and Portugal and 0.5-0.8 percentage points in Italy and Spain. Two different measures of seigniorage yield similar results regarding the change, but differ regarding the level.