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Seigniorage revenue and Turkish economy

  • Levent, Korap

In our paper, we try to investigate the courses of inflation tax and seigniorage revenue for policy makers of the Turkish economy. For this purpose, we first construct an ex-ante seigniorage revenue maximizing inflation model, and then calculate annual inflation tax and seigniorage revenues for the post-1980 period Turkish economy. Following these theoretical issues, an empirical model is constructed upon the Turkish economy, and our expost estimation results reveal that inside the period considered, the Turkish economy lies on the correct or efficient side of the seigniorage maximizing Laffer curve.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 20106.

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Date of creation: 2006
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Publication status: Published in Cumhuriyet Üniversitesi İktisadi ve İdari Bililer Dergisi 2.7(2006): pp. 101-120
Handle: RePEc:pra:mprapa:20106
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  16. Kivilcim Metin & Ilker Muslu, 1999. "Money demand, the Cagan model, testing rational expectations vs adaptive expectations: The case of Turkey," Empirical Economics, Springer, vol. 24(3), pages 415-426.
  17. Fischer, Stanley, 1982. "Seigniorage and the Case for a National Money," Journal of Political Economy, University of Chicago Press, vol. 90(2), pages 295-313, April.
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