1994年
A cointegration test of the optimal seigniorage model
Economics Letters
- ,
- 巻
- 44
- 号
- 4
- 開始ページ
- 433
- 終了ページ
- 437
- 記述言語
- 英語
- 掲載種別
- DOI
- 10.1016/0165-1765(94)90117-1
This paper tests Mankiw's (Journal of Monetary Economy, 1987, 20, 327-341) optimal seigniorage model. Under quadratic cost functions of taxation and inflation, the rates of inflation and taxes have unit roots and they must be cointegrated. The hypothesis of optimal policy is rejected in five countries. © 1994.
- ID情報
-
- DOI : 10.1016/0165-1765(94)90117-1
- ISSN : 0165-1765
- SCOPUS ID : 38149147244