haku: @indexterm decentralisation / yhteensä: 269
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| Tekijä: | Andrabi, T. |
| Otsikko: | Seigniorage, taxation, and weak government |
| Lehti: | Journal of Money, Credit and Banking
1997 : FEB, VOL. 29:1, p. 106-126 |
| Asiasana: | SEIGNIORAGE TAXATION FINANCING DECENTRALISATION |
| Kieli: | eng |
| Tiivistelmä: | This paper examines a setting where decision making about financing a given amount of government spending is decentralized. The residual tax that passively adjusts to meet the budget constraint, is seigniorage.The budget-making processplaced in a repeated game setting the cooperative tax-seigniorage function is characterized. The main results are that seigniorage and transitiory changes in output are positively correlated; a positive/negative covariation between current-period government spending and transitory output strengthens/weakens the positive relationship between seigniorage and transitory output; seigniorage is negatively correlated with trend output growth. |
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