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Central bank seigniorage in the Czech Republic

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  • Jacek Cukrowski
  • Emil Stavrev

Abstract

The concept of total gross seigniorage is used to analyse sources and uses of central bank seigniorage in the Czech Republic during the period 1993-1997. A comprehensive framework for measuring total seigniorage and its main components is presented and estimates of seigniorage revenues (sources and uses) are computed and analysed. The study explains why the concept of monetary seigniorage should not be used as an estimate of government gains from money creation and shows that seigniorage revenues have never been extensively used as a tool for financing expenditures of the Czech government.

Suggested Citation

  • Jacek Cukrowski & Emil Stavrev, 2001. "Central bank seigniorage in the Czech Republic," Applied Economics Letters, Taylor & Francis Journals, vol. 8(4), pages 243-247.
    • Handle: RePEc:taf:apeclt:v:8:y:2001:i:4:p:243-247
    DOI: 10.1080/135048501750103971
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    References listed on IDEAS

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    1. Drazen, Allan, 1985. "A general measure of inflation tax revenues," Economics Letters, Elsevier, vol. 17(4), pages 327-330.
    2. Hochreiter, Eduard & Rovelli, Riccardo & Winckler, Georg, 1996. "Central banks and seigniorage: A study of three economies in transition," European Economic Review, Elsevier, vol. 40(3-5), pages 629-643, April.
    3. Berthold Herrendorf, 1997. "Time Consistent Collection of Optimal Seigniorage: A Unifying Framework," Journal of Economic Surveys, Wiley Blackwell, vol. 11(1), pages 1-46, March.
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    Cited by:

    1. Ainura Uzagalieva, 2005. "Fiscal Consequences of Monetary Integration within a Common Economic Area: The Case of Belarus, Kazakhstan and Russia," Post-Communist Economies, Taylor & Francis Journals, vol. 17(4), pages 399-424.
    2. Ainura Uzagalieva, 2005. "Fiscal Consequences of Monetary Integration within the Common Economic Area: the Case of Belarus, Kazakhstan and Russia," CERGE-EI Working Papers wp254, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    3. Daniel Gros, 2004. "Profiting from the Euro? Seigniorage Gains from Euro Area Accession," Journal of Common Market Studies, Wiley Blackwell, vol. 42(4), pages 795-813, November.

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