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Volume 51, Issue 11


Value of Monetary Income in a Transition Economy

Cincibuch, Martin; Vávra, David

Year: 2001   Volume: 51   Issue: 11   Pages: 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.

JEL classification: E59, E41

Keywords: monetary income; seignorage; transition


RePEc: n/a

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