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| Author: | Haslag, J. |
| Title: | Money creation, reverse requirements, and seniorage |
| Journal: | Review of Economic Dynamics
1998 : JUL, VOL. 1:3, p. 677-698 |
| Index terms: | ECONOMIC DYNAMICS MONEY RESERVE ACCOUNT |
| Language: | eng |
| Abstract: | In this paper, the authors examine the impact that changes in the rate of money creation and reserve requirements have on real seigniorage revenue. The authors consider two additional features that differ from previous analyses. First, the model economies grow endogenously, and that growth depends on the accumulation of intermediated capital. Second, agents have two means of financing; one is bank deposits against which reserves must be held, and the other is a nonbank intermediary. |
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