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Seigniorage versus inflation tax: a comment

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  • Philip Sachinides

Abstract

This paper is a comment on an article by de Haan et al. (1993) on seigniorage in developing countries. It is argued that de Haan et al. conflate the concepts of seigniorage and inflation tax, although it is now established that these two concepts are distinct. Furthermore, the measures they employ to calculate inflation tax and seigniorage are questioned. Examples suggest that they systematically overestimate seigniorage and miscalculate the inflation tax.

Suggested Citation

  • Philip Sachinides, 1995. "Seigniorage versus inflation tax: a comment," Applied Economics Letters, Taylor & Francis Journals, vol. 2(10), pages 412-414.
    • Handle: RePEc:taf:apeclt:v:2:y:1995:i:10:p:412-414
    DOI: 10.1080/758519004
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    References listed on IDEAS

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    1. Friedman, Milton, 1971. "Government Revenue from Inflation," Journal of Political Economy, University of Chicago Press, vol. 79(4), pages 846-856, July-Aug..
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