dc.contributor.author | Eden, Benjamin | |
dc.date.accessioned | 2020-09-14T00:31:04Z | |
dc.date.available | 2020-09-14T00:31:04Z | |
dc.date.issued | 2006 | |
dc.identifier.uri | http://hdl.handle.net/1803/15812 | |
dc.description.abstract | What are the "liquidity services" provided by ìover-pricedî assets? How do international seigniorage payments affect the choice of monetary policies? Does a country gain when other hold its ìover-pricedî assets? These questions are analyzed here in a model in which demand uncertainty (taste shocks) and sequential trade are key. It is shown that a country with a relatively stable demand may issue "over priced" debt and get seigniorage payments from countries with unstable demand. But this does not necessarily improve welfare in the stable demand country. | |
dc.language.iso | en_US | |
dc.publisher | Vanderbilt University | en |
dc.subject | Seigniorage | |
dc.subject | liquidity | |
dc.subject | rate of return dominance | |
dc.subject | optimal monetary policy | |
dc.subject | JEL Classification Number: E42 | |
dc.subject | JEL Classification Number: F00 | |
dc.subject | JEL Classification Number: G00 | |
dc.subject | JEL Classification Number: H62 | |
dc.subject.other | | |
dc.title | International Seigniorage Payments | |
dc.type | Working Paper | en |
dc.description.department | Economics | |