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| Tekijä: | Kiguel, M. Neumeyer, P. |
| Otsikko: | Seigniorage and inflation: the case of Argentina |
| Lehti: | Journal of Money, Credit and Banking
1995 : AUG, VOL. 27:3, p. 672-682 |
| Asiasana: | ARGENTINA INFLATION BANKING |
| Kieli: | eng |
| Tiivistelmä: | Very high inflations are usually explained by the need to raise revenue from money creation (that is, seigniorage) to finance the budget deficit. The literature on inflationary finance provides the analytical underpinnings to study this issue. The purpose of this paper is to use the recent Argentine experience to discuss the relevance of the alternative views. The main question addressed by the paper is whether the rate of inflation was beyond the revenue-maximizing rate. |
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