Seigniorage: On the Revenue from the Creation of Money

Ebook Details


Jens Reich

Year 2017
Pages 148
Publisher Springer
Language en
ISBN 9783319631233
File Size 1.67 MB
File Format PDF
Download Counter 97
Amazon Link

Ebook Description

This book analyzes the revenues from the creation of currency by a central government. Adopting an institutional perspective, it develops a general theory of seigniorage by identifying three monetary regimes in economic history and the history of economic thought: a commodity currency, a fiat currency and a credit currency regime. As such it provides a modern analytical framework to analyze the nature of revenues from the creation of currency and their optimal height, whether currency is issued by means of minting coins, by printing and spending paper notes, by crediting private entities, or combinations thereof.