Euroisation. Assessing the Loss of Seigniorage and the Impact on the Interest Premium in Central European Countries

Franziska Schobert

Revue économique, 2003, vol. 54, issue 5, 913-935

Abstract: The loss of seigniorage and possible reductions in interest premiums are regarded as the most direct financial consequences of euroisation. The measurement of seigniorage depends on the chosen concept which in this study concentrates on the net revenues actually distributed to the fiscal authorities. Possible reductions in interest premiums are calculated by assuming that part of the default risk is due to the risk of default in case of a currency crisis. It is concluded that losses on seigniorage, but also potential benefits on the reduction of interest rates, are rather low for a group of more advanced eu accession countries in Central Europe and that they should not be important criteria for their governments considering euroisation.

Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=RECO_545_0913 (application/pdf)
http://www.cairn.info/revue-economique-2003-5-page-913.htm (text/html)
free

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cai:recosp:reco_545_0913

Access Statistics for this article

More articles in Revue économique from Presses de Sciences-Po
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().