Abstract
Alternative seignorage estimates for the UK for the period 1950-2021 show that these revenues have been generally very small in relation to total tax receipts and with respect to similar recent estimates for the USA. The introduction of interest payments on banks’ reserve balances in May 2006 and Quantitative Easing from 2009 sharply reduced opportunity cost seignorage revenues, but boosted, probably temporarily, revenues from monetary seignorage.
| Original language | English |
|---|---|
| Pages (from-to) | 483-494 |
| Number of pages | 12 |
| Journal | Economia Internazionale |
| Volume | 77 |
| Issue number | 4 |
| Publication status | Published - Oct 2024 |
Keywords
- Seigniorage
- Bank of England
- UK Treasury