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

Format:

Book

Government document

Author/Creator:

Ize, Alain.

Contributor:

International Monetary Fund. Monetary and Financial Systems Department.

Series:

IMF Working Papers; Working Paper ; No. 2006/058

IMF Working Papers

Language:

English

Subjects (All):

Banks and banking, Central.

Seigniorage (Finance)--Econometric models.

Seigniorage (Finance).

Physical Description:

1 online resource (34 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2006.

Language Note:

English

Summary:

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.

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""

Notes:

"March 2006."

Includes bibliographical references.

Description based on print version record.

ISBN:

9786613829085

9781462320554

1462320554

9781452730981

1452730989

9781283516631

1283516632

9781451908541

1451908547

OCLC:

694141183