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Paired with enhanced sales and income tax enforcement, such a policy would likely raise tax revenues by more than the decrease in seigniorage.
Additionally, seigniorage signals that the state's control of money and the state's control of public revenue and expenditure cannot be separated, and public finance is an intensely political process.
We will get all the seigniorage as those dollars start rising over time.
It is the sum of three different effects: the reduction of seigniorage, the tax revenue loss in the business sector and the reduction of the cost of servicing government debt.
This substitution would, however, affect central banks' balance sheets and governments' seigniorage revenues.
The Global Central Bank will be financed by benefits, which come from the printing of money and seigniorage.
The most-often-cited benefits are (1) the prestige effect, (2) trade efficiency, and (3) seigniorage coming from having a country's currency circulating abroad and held as a reserve.
t] = 0, the appendix discusses a common interpretation of seigniorage.
Eckstein and Leiderman (1992) in addition to Cagan semi-log model use Sidrauski-type money-in-utility (MIU) model to study seigniorage implications and welfare cost of inflation for Israel.
This would just mean that a high rate of profit is being earned in that industry for now, not seigniorage.
As explained by Salvatore (2002), a second difference coming from the US dollar longer utilization is the difference of seigniorage benefits from the use of the unique currency as an international currency.