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Seigniorage, banking, and the optimal quantity of money

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  • Baltensperger, Ernst
  • Jordan, Thomas J.

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  • Baltensperger, Ernst & Jordan, Thomas J., 1997. "Seigniorage, banking, and the optimal quantity of money," Journal of Banking & Finance, Elsevier, vol. 21(6), pages 781-796, June.
    • Handle: RePEc:eee:jbfina:v:21:y:1997:i:6:p:781-796
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    References listed on IDEAS

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    1. Drazen, Allan, 1985. "A general measure of inflation tax revenues," Economics Letters, Elsevier, vol. 17(4), pages 327-330.
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    3. Auernheimer, Leonardo, 1974. "The Honest Government's Guide to the Revenue from the Creation of Money," Journal of Political Economy, University of Chicago Press, vol. 82(3), pages 598-606, May/June.
    4. Marty, Alvin L, 1978. "Inflation, Taxes, and the Public Debt," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 10(4), pages 437-452, November.
    5. Romer, David, 1985. "Financial intermediation, reserve requirements, and inside money: A general equilibrium analysis," Journal of Monetary Economics, Elsevier, vol. 16(2), pages 175-194, September.
    6. Woodford, Michael, 1990. "The optimum quantity of money," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 2, chapter 20, pages 1067-1152, Elsevier.
    7. Daniel Gros & Guyvandille, 1995. "Seigniorage and EMU: The Fiscal Implications of Price Stability and Financial Market Integration," Journal of Common Market Studies, Wiley Blackwell, vol. 33(2), pages 175-196, June.
    8. Timothy J. Kehoe & David K. Levine & Michael Woodford, 1990. "The optimum quantity of money revisited," Working Papers 404, Federal Reserve Bank of Minneapolis.
    9. Friedman, Milton, 1971. "Government Revenue from Inflation," Journal of Political Economy, University of Chicago Press, vol. 79(4), pages 846-856, July-Aug..
    10. Joseph Daniels & David Hoose, 1996. "Reserve requirements, currency substitution, and seigniorage in the transition to European monetary union," Open Economies Review, Springer, vol. 7(3), pages 257-273, July.
    11. Humphrey, David B & Pulley, Lawrence B & Vesala, Jukka M, 1996. "Cash, Paper, and Electronic Payments: A Cross-Country Analysis," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 28(4), pages 914-939, November.
    12. David B. Humphrey & Lawrence B. Pulley & Jukka M. Vesala, 1996. "Cash, paper, and electronic payments: a cross-country analysis," Proceedings, Board of Governors of the Federal Reserve System (U.S.), pages 914-941.
    13. Canzoneri, Matthew B. & Diba, Behzad T., 1992. "The inflation discipline of currency substitution," European Economic Review, Elsevier, vol. 36(4), pages 827-845, May.
    14. Bacchetta, Philippe & Caminal, Ramon, 1992. "Optimal seigniorage and financial liberalization," Journal of International Money and Finance, Elsevier, vol. 11(6), pages 518-538, December.
    15. Alvin L. Marty, 1994. "The inflation tax and the marginal welfare cost in a world of currency and deposits," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 67-71.
    16. Lucas, Robert Jr., 1986. "Principles of fiscal and monetary policy," Journal of Monetary Economics, Elsevier, vol. 17(1), pages 117-134, January.
    17. Ernst Baltensperger & Thomas J. Jordan, 1997. "Principles of Seigniorage," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 133(II), pages 133-152, June.
    18. VanHoose, David D., 1988. "Deregulation and oligopolistic rivalry in bank deposit markets," Journal of Banking & Finance, Elsevier, vol. 12(3), pages 379-388, September.
    19. VanHoose, David D, 1985. "Bank Market Structure and Monetary Control," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 17(3), pages 298-311, August.
    20. Brock, Philip L, 1989. "Reserve Requirements and the Inflation Tax," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 21(1), pages 106-121, February.
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    Cited by:

    1. Bossone, Biagio, 2021. "Commercial bank seigniorage and the macroeconomy," International Review of Financial Analysis, Elsevier, vol. 76(C).
    2. Cysne, Rubens Penha, 2002. "A note on the integrability of partial-equilibrium measures of the welfare costs of inflation," Journal of Banking & Finance, Elsevier, vol. 26(12), pages 2357-2363.
    3. Soldatos, Gerasimos T. & Varelas, Erotokritos, 2014. "The Chicago Tradition and Commercial Bank Seigniorage," MPRA Paper 57721, University Library of Munich, Germany.
    4. Cysne, Rubens Penha, 2011. "The n-dimensional Bailey–Divisia measure as a general-equilibrium measure of the welfare costs of inflation," Economics Letters, Elsevier, vol. 113(2), pages 99-102.
    5. Erotokritos Varelas & Gerasimos T. Soldatos, 2014. "The Chicago Tradition and Commercial Bank Seigniorage," Research in World Economy, Research in World Economy, Sciedu Press, vol. 5(1), pages 29-38, March.
    6. Bossone, Biagio, 2001. "Circuit theory of banking and finance," Journal of Banking & Finance, Elsevier, vol. 25(5), pages 857-890, May.
    7. Bossone Biagio & Costa Massimo, 2021. "Money for the Issuer: Liability or Equity?," Economics - The Open-Access, Open-Assessment Journal, De Gruyter, vol. 15(1), pages 43-59, January.
    8. Biagio Bossone, 2021. "Bank Seigniorage in a Monetary Production Economy," Working Papers PKWP2111, Post Keynesian Economics Society (PKES).
    9. Arby, Muhammad Farooq, 2006. "Seigniorage Earnings of Commercial Banks and State Bank of Pakistan," MPRA Paper 4955, University Library of Munich, Germany.
    10. Bossone, Biagio, 2001. "Do banks have a future?: A study on banking and finance as we move into the third millennium," Journal of Banking & Finance, Elsevier, vol. 25(12), pages 2239-2276, December.
    11. Samuel Demeulemeester, 2022. "What analytical framework for Sovereign Money? Some insight from the 100% Money literature, and a comment on criticisms," Working Papers hal-03751756, HAL.
    12. Dmitri Vinogradov, 2003. "Macroeconomic evolution after a shock: the role for financial intermediation," Macroeconomics 0310007, University Library of Munich, Germany.
    13. Gerasimos T. Soldatos & Erotokritos Varelas, 2015. "On The Quantity Theory Of Money, Credit, And Seigniorage," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 9(5), pages 93-102.
    14. Dmitri Vinogradov, 2004. "Macroeconomic evolution aftera shock: the role of financial intermediation," Money Macro and Finance (MMF) Research Group Conference 2003 106, Money Macro and Finance Research Group.
    15. Jianhuai Shi, 2002. "The Economic Effects of Inflation Tax Instruments in an Overlapping-Generations Economy with Production," Annals of Economics and Finance, Society for AEF, vol. 3(2), pages 433-451, November.
    16. Hayat, Zafar & Balli, Faruk & Rehman, Muhammad, 2017. "The relevance and relative robustness of sources of inflation bias in Pakistan," Economic Modelling, Elsevier, vol. 63(C), pages 283-303.
    17. Soldatos, Gerasimos T. & Varelas, Erotokritos, 2014. "On the Quantity Theory of Money, Credit, and Seigniorage," MPRA Paper 57501, University Library of Munich, Germany.
    18. Patrick Honohan, 2003. "Taxation of Financial Intermediation : Theory and Practice for Emerging Economines," World Bank Publications - Books, The World Bank Group, number 15122.

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