Optimal seigniorage and financial liberalization
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| Tag | 1 | 2 | Value |
|---|---|---|---|
| LDR | 00000cam a2200000 i 4500 | ||
| 001 | MAP20070010571 | ||
| 003 | MAP | ||
| 005 | 20090507170049.0 | ||
| 007 | hzrazu---bucu | ||
| 008 | 920429s1990 esp 00010 eng | ||
| 040 | $aMAP$bspa$dMAP | ||
| 084 | $a921.9 | ||
| 100 | 1 | $0MAPA20080237486$aBacchetta, Philippe | |
| 245 | 1 | 0 | $aOptimal seigniorage and financial liberalization$cby Philippe Bacchetta and Ramón Caminal |
| 260 | $aBarcelona$bESADE$c1990 | ||
| 300 | $a23 p.$bgraf.$c30 cm | ||
| 490 | 1 | $aPapers ESADE$v41 | |
| 520 | $aThis paper analyzes the effect of financial integration for countries relying on seigniorage. A two-country model with overlapping generations and explicit financial intermdiation is used. Governments derive revenues from seigniorage and set optimally, but non-cooperatively, the rate of inflation and the level of required reserves on bank deposits. A financial liberalization reduces welfare and leads to lower reserve ratios, higher inflation rates, and higher government debt. When the liberalization is anticipated, governments temporarily increase the reserve ratios before the liberalization occurs. | ||
| 650 | 1 | $0MAPA20080597641$aMercados financieros | |
| 650 | 1 | $0MAPA20080585563$aGestión financiera | |
| 650 | 1 | $0MAPA20080567613$aUnión Europea | |
| 650 | 1 | $0MAPA20080619817$aLiberalización de mercados | |
| 650 | 1 | $0MAPA20080625818$aLibre circulación de capitales | |
| 700 | 1 | $0MAPA20080093631$aCaminal, Ramón | |
| 710 | 2 | $0MAPA20080474515$aEscuela Superior de Administración y Dirección de Empresas | |
| 830 | 0 | $0MAPA20080505486$aPapers ESADE$v41 |