Optimal reserve requirements, deposit taxation, and the demand for money

Article Abstract:

An analysis of welfare and equivalence relationships covering real expenditure financing is presented. Theanalysis focuses on reserve-requirement-augmented seigniorage (RRS) and seigniorage/deposit tax combinations (SD) and applies an overlapping generations model. It is shown that the factor of specification diversity conditions the choice between RRS and SD.

Money, Foreign exchange reserves

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The effectiveness of government debt and transfers as insurance

Article Abstract:

The effects that transfers and fluctuations in public debt have on efficiency, sharing of risk and resource distribution are evaluated. It is seen that there is a significant improvement in risk sharing by both transfers and debt, while debt adversely effects equity.

Evaluation, Finance, National debt, Public debts, Welfare economics

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commitment, coordination failures, and delayed reforms

Article Abstract:

Research examining a model engaging the government in tax-setting for payments of economic reforms is presented. Particular attention is given to possible delays for the economic reform during the time the governments may need to build credibility.

Political aspects, Economic development

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