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The Enlargement of the European Union and the Redistribution of Seigniorage Wealth

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  • Holger Feist

Abstract

In the course of the EU enlargement process, the participation of accession countries in the European Monetary Union might lead to a significant redistribution of seigniorage wealth if current regulations prevail. In general, accession countries will be winners from this redistribution, for example Poland with 12.9 billion euros, Romania with 9.9 billion euros or Hungary with 3.3 billion euros. Correspondingly, the current member countries of the European Union face costs of 35.3 billion euros in total, the biggest part of which has to be borne by Germany. I am grateful to Mirja Bopst, Ulrich Hange, Hans‐Werner Sinn, as well as the editors of this journal and their referees for helpful comments.

Suggested Citation

  • Holger Feist, 2001. "The Enlargement of the European Union and the Redistribution of Seigniorage Wealth," Kyklos, Wiley Blackwell, vol. 54(4), pages 533-546, November.
    • Handle: RePEc:bla:kyklos:v:54:y:2001:i:4:p:533-546
    DOI: 10.1111/1467-6435.00168
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    Cited by:

    1. Ainura Uzagalieva, 2005. "Fiscal Consequences of Monetary Integration within a Common Economic Area: The Case of Belarus, Kazakhstan and Russia," Post-Communist Economies, Taylor & Francis Journals, vol. 17(4), pages 399-424.
    2. Jacek Cukrowski, 2002. "From Transition to Monetary Integration: Revenues from Seignorage in Poland," CASE-CEU Working Papers 0041, CASE-Center for Social and Economic Research.
    3. Vedran Sosic & Michael Faulend, 2002. "Dollarisation and the Underground Economy: Accidental Partners?," Occasional paper series 15, Institute of Public Finance.
    4. Deltas, George & Van Der Beek, Gregor, 2003. "An empirical model of transfers within a federation, with an application to the European Union," Journal of Urban Economics, Elsevier, vol. 53(3), pages 339-356, May.

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