Arbeitspapier
Seignorage pooling of EMU, pool bias and seignorage change by the Euro
To deal with changes of capitalized seignorage due to EMU, we supply the still missing capital-theoretical framework. We show that seignorage pooling of EMU is composed of two components, a dynamic component and a static component. By its dynamic component, the pool provides insurance against seignorage losses from changes of national shares in European seignorage, while the static component is reflecting a problematic pool-bias. The seignorage model is then applied to simulate EMU-changes of capitalized seignorage in two scenarios for Germany. Estimates of changes in the literature are examined: Finally, recent (Dec. 6, 2001) decisions by the ECB with regard to seignorage-pooling are evaluated.
- Sprache
-
Englisch
- Erschienen in
-
Series: Diskussionsbeiträge - Serie I ; No. 323
- Klassifikation
-
Wirtschaft
Monetary Policy, Central Banking, and the Supply of Money and Credit: Other
International Monetary Arrangements and Institutions
Financial Aspects of Economic Integration
- Thema
-
European Monetary Union (EMU)
Euro
seignorage
seignorage pooling
seignorage change
pool bias
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Läufer, Nikolaus K. A.
- Ereignis
-
Veröffentlichung
- (wer)
-
Universität Konstanz, Fachbereich Wirtschaftswissenschaften
- (wo)
-
Konstanz
- (wann)
-
2003
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Läufer, Nikolaus K. A.
- Universität Konstanz, Fachbereich Wirtschaftswissenschaften
Entstanden
- 2003
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