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Books > History > History of specific subjects > Economic history
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Seigniorage - On the Revenue from the Creation of Money (Hardcover, 1st ed. 2017)
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Seigniorage - On the Revenue from the Creation of Money (Hardcover, 1st ed. 2017)
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This book analyzes the revenues from the creation of currency by a
central government. Adopting an institutional perspective, it
develops a general theory of seigniorage by identifying three
monetary regimes in economic history and the history of economic
thought: a commodity currency, a fiat currency and a credit
currency regime. As such it provides a modern analytical framework
to analyze the nature of revenues from the creation of currency and
their optimal height, whether currency is issued by means of
minting coins, by printing and spending paper notes, by crediting
private entities, or combinations thereof. The results of this
analysis stretch beyond the immediate topic. The book establishes a
relationship between the theory of seigniorage and government debt,
the theory of the interest rate, the optimal rate of inflation, or
the effectiveness and inflationary limits of outright monetary
transactions.
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