Regime-switching properties of the optimal seigniorage hypothesis: The case of Taiwan

T. W. Ho*

*此作品的通信作者

研究成果: 雜誌貢獻期刊論文同行評審

2 引文 斯高帕斯(Scopus)

摘要

The optimal seigniorage hypothesis argues that the government will attempt to minimize the sum of social costs arising from the rate of inflation and taxation, which results in the testable prediction that inflation and rate of tax revenue will be positively correlated. This article empirically examines the regime-switching properties of this theory. Using quarterly data from Taiwan over 1961-2000 sampling periods, it finds that the optimal seigniorage hypothesis is weakly supported, and its explanatory power for the long-run inflation behaviour is weak.

原文英語
頁(從 - 到)485-494
頁數10
期刊Applied Economics
35
發行號4
DOIs
出版狀態已發佈 - 2003 3月 4
對外發佈

ASJC Scopus subject areas

  • 經濟學與計量經濟學

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