Monetary Indexation and Revenues from Money Creation : The Case of Iceland.
This paper discusses the effects of monetary indexation on the revenues from monetization in Iceland. The paper starts by showing that monetization revenues fell sharply after indexation was introduced in 1979 and evaluates the different and partly ambiguous factors behind this development. The fisc...
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| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
1990.
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| Series: | IMF Working Papers; Working Paper ;
No. 1990/020 |
| Online Access: | Full text available on IMF |
| Summary: | This paper discusses the effects of monetary indexation on the revenues from monetization in Iceland. The paper starts by showing that monetization revenues fell sharply after indexation was introduced in 1979 and evaluates the different and partly ambiguous factors behind this development. The fiscal consequences are then examined in light of the fact that revenues from monetization have traditionally made up a substantial part of Government revenues in Iceland. Different policy options are simulated using the framework of the public finance approach to inflation. The simulations focus on the relation of fiscal deficits to inflation, output growth, and internal and external debt. |
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| Item Description: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Physical Description: | 1 online resource (38 pages) |
| Format: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| Access: | Electronic access restricted to authorized BRAC University faculty, staff and students |