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Since this currency substitution provides no further shift in resources towards the taxed sector but leads to a discrete fall in seignorage revenue, the optimal inflation rate is capped due to this treat of currency substitution.
In the context of discussing seignorage, it may be worth trying to insist that a negative paper currency interest rate is not a tax if it simply equals the target rate.
Clearly, any such contribution of seignorage would be a matter for the congress and executive branch to decide.
From this perspective nominal values of total expenditures and total revenues, unadjusted for interest payments, seignorage, or depreciation in the value of the debt, are the variables of interest [14].
Tenders are invited for supply of various sizes of metals : Grade II HBT Metal (60-63mm of 50% and 46% of 40-45mm & 4% of 19-22mm) and stacking to departmental gauge excluding VAT & Seignorage charges
This, has resulted partly from the monetary policy coordination problems being experienced in the ruble area, but also from inadequate supplies of ruble banknotes coming from Moscow and a failure to agree on a fair division of the ruble seignorage.
In the following centuries several thousand cities, principalities, kings and bishops issued coinages of all sorts, grabbing a little slice of the seignorage profits coming from the issue of coinage.
In Poland, the seignorage to GDP ratio has been relatively high by international standards.
Cost estimates of inflation tax avoidance give Cagan (1956), Bailey (1956), and Eckstein and Leiderman (1992) a basis on which to evaluate seignorage policy.
t] are tax revenue, government expenditures, seignorage, and government debt outstanding at the end of time t, respectively, as ratios of national output.
Those principles note that seignorage is a potential source of revenue to any government, and hence tell us that the question of how much, if any, revenue should be raised from the inflation tax ought not to be settled in isolation from the design of the tax-expenditure system as a whole.
Bailey used the average welfare-cost-per-dollar of revenue to measure the social costs of seignorage.