Value of Monetary Income in a Transition Economy

Martin Cincibuch () and David Vavra

Czech Journal of Economics and Finance (Finance a uver), 2001, vol. 51, issue 11, 574-590

Abstract: The authors focus on income from the monopoly rights to issue money accruing to central banks in a transitional environment. The authors introduce a general method to compute the value of this ability and provide a tentative valuation in the Czech case. The range of the estimates demonstrates that a unilateral adoption of the euro would entail a significant loss in terms of monetary income. On the other hand, EMU membership is found to be beneficial.

Keywords: monetary income; seignorage; transition (search for similar items in EconPapers)
JEL-codes: E41 E59 (search for similar items in EconPapers)
Date: 2001
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:fau:fauart:v:51:y:2001:i:11:p:574-590

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