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The Seigniorage Gain of an International Currency: An Empirical Test

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  • Benjamin J. Cohen

Abstract

I. The concept of seigniorage, 495. — II. Its practical significance in the British case, 496. — III. The gross seigniorage gain from sterling, 498. — IV. The offsetting interest cost of the sterling balances, 502.

Suggested Citation

  • Benjamin J. Cohen, 1971. "The Seigniorage Gain of an International Currency: An Empirical Test," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 85(3), pages 494-507.
    • Handle: RePEc:oup:qjecon:v:85:y:1971:i:3:p:494-507.
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    Cited by:

    1. Simon Neaime, 2000. "A Perspective on the Future Dollar-Euro Exchange Rate: Implications for the Peripheral Mediterranean Countries," Working Papers 2032, Economic Research Forum, revised 10 2000.
    2. Radostin Neykov & Caroline Robert, 2021. "The Role of the Euro in the Eastern Partnership Countries," European Economy - Discussion Papers 138, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    3. McCauley, Robert N., 2015. "Does the US dollar confer an exorbitant privilege?," Journal of International Money and Finance, Elsevier, vol. 57(C), pages 1-14.
    4. Neaime, Simon & Paschakis, John, 2002. "The future of the dollar-euro exchange rate," The North American Journal of Economics and Finance, Elsevier, vol. 13(1), pages 56-71, May.
    5. Benjamin Cohen, 2012. "The Benefits and Costs of an International Currency: Getting the Calculus Right," Open Economies Review, Springer, vol. 23(1), pages 13-31, February.

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