An Incentive-Compatible Suggestion for Seigniorage Sharing With Dollarizing Countries
11 Pages Posted: 31 Oct 2007
Date Written: May 2002
Abstract
Sixteen countries now give the U.S. dollar legal-tender status. Although dollarizing can help emerging-market countries gain monetary credibility and avoid currency crisis, many do not want to give up the seigniorage revenues associated with issuing their own fiat currency. This article offers a proposal for seignoirage sharing.
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