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Value of Monetary Income in a Transition Economy

Author

Listed:
  • Martin Cincibuch
  • David Vávra

Abstract

The authors focus on income from the monopoly rights to issue money accruing to central banks in a transitional environment. The authors introduce a general method to compute the value of this ability and provide a tentative valuation in the Czech case. The range of the estimates demonstrates that a unilateral adoption of the euro would entail a significant loss in terms of monetary income. On the other hand, EMU membership is found to be beneficial.

Suggested Citation

  • Martin Cincibuch & David Vávra, 2001. "Value of Monetary Income in a Transition Economy," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 51(11), pages 574-590, November.
    • Handle: RePEc:fau:fauart:v:51:y:2001:i:11:p:574-590
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    File URL: http://journal.fsv.cuni.cz/storage/775_200111mc.pdf
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    Cited by:

    1. Sona Benecka & Tomas Holub & Narcisa Liliana Kadlcakova & Ivana Kubicova, 2012. "Does Central Bank Financial Strength Matter for Inflation? An Empirical Analysis," Working Papers 2012/03, Czech National Bank.

    More about this item

    Keywords

    monetary income; seignorage; transition;
    All these keywords.

    JEL classification:

    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money

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