Eurowinners and Eurolosers: The distribution of seigniorage wealth in EMU

Hans-Werner Sinn and Holger Feist

Munich Reprints in Economics from University of Munich, Department of Economics

Abstract: The European Monetary Union (EMU) will involve socialization of the existing seigniorage wealth of the national central banks. This socialization will create windfall gains for countries with relatively low monetary bases such as France and the UK and it will be disadvantageous for countries like Germany, Austria, Spain or the Netherlands which will suffer per capita wealth losses of between 406 and 182 ecus. The paper quantifies the gains and losses in seigniorage wealth under alternative membership and bank regulation scenarios.

Date: 1997
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Citations: View citations in EconPapers (25)

Published in European Journal of Political Economy 4 13(1997): pp. 665-689

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Related works:
Working Paper: Eurowinners and Eurolosers: The Distribution of Seignorage Wealth in EMU (1997)
Working Paper: Eurowinners and Eurolosers: The Distribution of Seigniorage Wealth in EMU (1997)
Working Paper: Eurowinners and Eurolosers: The Distribution of Seigniorage Wealth in EMU (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:lmu:muenar:19567

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