European Parliament Library

Spending Seigniorage :, Do Central Banks Have a Governance Problem?, Alain Ize

Creator
Abstract
This paper reviews how central banks allocate seigniorage, based on systematic crosscountry comparisons of their financial accounts. Central banks are classified as weak or strong, depending upon their structural profitability. Weak central banks typically (although not exclusively) operate in smaller and less wealthy countries, lack independence from their governments, and are burdened by compulsory transfers and low capital. Their operating expenditures, nonperforming assets, international reserve carrying costs, and international reserve accumulation needs are high. Governance appears to be a potential concern in many central banks, both weak and strong, with operating expenditures often adjusting upward for high profitability and capital accumulation adjusting downward for low profitability. The main policy implications are briefly reviewed
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. A CROSS-SECTIONAL LOOK AT CENTRAL BANK ACCOUNTS""; ""III. SOURCES AND USES OF SEIGNIORAGE""; ""IV. WHAT DETERMINES CENTRAL BANKS� OPERATING EXPENDITURES?""; ""V. CONCLUSIONS""; ""SAMPLE COUNTRIES""; ""NOTATION""; ""VALUATION ADJUSTMENTS""; ""REFERENCES""
Language
eng
Literary Form
non fiction
Note
"March 2006."
Physical Description
1 online resource (34 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781451908541

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