On the Revenue from the Creation of Money

  • Jens┬áReich

Table of contents

  1. Front Matter
    Pages i-xv
  2. Jens Reich
    Pages 63-78
  3. Jens Reich
    Pages 79-95
  4. Jens Reich
    Pages 97-109
  5. Jens Reich
    Pages 111-125
  6. Jens Reich
    Pages 127-148

About this book


This book analyzes the revenues from the creation of currency by a central government. Adopting an institutional perspective, it develops a general theory of seigniorage by identifying three monetary regimes in economic history and the history of economic thought: a commodity currency, a fiat currency and a credit currency regime. As such it provides a modern analytical framework to analyze the nature of revenues from the creation of currency and their optimal height, whether currency is issued by means of minting coins, by printing and spending paper notes, by crediting private entities, or combinations thereof. 

The results of this analysis stretch beyond the immediate topic. The book establishes a relationship between the theory of seigniorage and government debt, the theory of the interest rate, the optimal rate of inflation, or the effectiveness and inflationary limits of outright monetary transactions.


Seigniorage Monetary Theory Monetary Policy Monetary Regimes Commodity Currency Fiat Currency Credit Currency Currency Regime Minting Coin Mixed Monetary System Money Supply Seigniorage Revenues Inflation Monetary System Seigniorage Revenues Money Supply

Authors and affiliations

  • Jens┬áReich
    • 1
  1. 1.Goethe University FrankfurtFrankfurt am MainGermany

Bibliographic information

  • DOI
  • Copyright Information Springer International Publishing AG 2017
  • Publisher Name Springer, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-319-63123-3
  • Online ISBN 978-3-319-63124-0
  • Buy this book on publisher's site