An incentive-compatible suggestion for seigniorage sharing with dollarizing countries
Abstract: Sixteen countries now treat the U.S. dollar as legal tender. Although dollarizing can help emerging-market countries gain monetary credibility and avoid currency crises, many do not want to give up the seigniorage revenues associated with issuing their own fiat currency. This article offers a proposal for seigniorage sharing.
File(s): File format is application/pdf http://www.clevelandfed.org/research/PolicyDis/No4May02.pdf
File(s): File format is application/pdf http://www.clevelandfed.org/Research/PolicyDis/No4May02.pdf
Provider: Federal Reserve Bank of Cleveland
Part of Series: Policy Discussion Papers
Publication Date: 2002
Order Number: 4