Seniorajul în România
Seigniorage: the case of Romania

Summary/Abstract: While most economists agree that seigniorage is one way governments finance deficits, there is less agreement about the political, institutional and economic reasons for relying on it. The paper estimates the level of seigniorage in Romania, proving that the political instability and the preference for certain techniques used by various governments to cover the budget deficit are interdependent with the level of this indicator. This paper is structured as follows: Conceptual aspects concerning the seigniorage in section 1, section 2 showing the models for calculate the level of seigniorage, section 3 estimates the level of seigniorage in Romania.

• Details
• Contents