IDEAS home Printed from
   My bibliography  Save this article

Universal Basic Income and Helicopter Money


  • Mencinger Jože

    () (EIPF, University of Ljubljana, Ljubljana1000, Slovenia)


A unique opportunity for testing whether universal basic income (UBI) on the European level is a realistic option could be provided by its monetary financing as an alternative to “traditional” fiscal financing. Fiscal financing of UBI would namely request a much larger European “federal” budget financed by a specific European tax or by participation of the “federation” on some of the existing tax bases, and by agreed upon allotment of the accumulated “federal” fiscal revenues. Though ensuing redistribution of GDP would be relatively modest, the European UBI without an alternative to the tax revenues requirements remains illusionary. Helicopter money (HM) replacing quantitative easing (QE) might provide such an alternative. Modalities of its implementation differ and the idea raises questions of its compliance with the legal regime of the ECB and opens many other topics such as the effectiveness of “QE for the people” and its long-run consequences.

Suggested Citation

  • Mencinger Jože, 2017. "Universal Basic Income and Helicopter Money," Basic Income Studies, De Gruyter, vol. 12(2), pages 1-8, December.
  • Handle: RePEc:bpj:bistud:v:12:y:2017:i:2:p:8:n:3

    Download full text from publisher

    File URL:
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.

    As the access to this document is restricted, you may want to search for a different version of it.


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bpj:bistud:v:12:y:2017:i:2:p:8:n:3. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peter Golla). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.