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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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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1990
Series:IMF Working Papers
Subjects:
Interest Rates
Inflation
Finance
Monetary Economics
Financial Services
Real Interest Rates
Deflation
Monetary Policy, Central Banking, And The Supply Of Money And Credit: General
Currency Issuance
Money
Central Banks
Money Supply
Price Level
Monetary Base
Demand For Money
Banks And Banking
Prices
Macroeconomics
Banking
Central Banks And Their Policies
Interest Rates: Determination, Term Structure, And Effects
Money And Monetary Policy
Iceland
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
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
Physical Description:38 pages
ISBN:9781451921939

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