Publication

This paper addresses the significance of seigniorage gains as an argument for having a national currency, assesses the volume of seigniorage and contrasts it with dollarization and euroization. The paper introduces concepts for measuring seigniorage, including monetary, opportunity cost and fiscal approaches. Subsequently, the paper presents examples for measuring seigniorage, focusing on Yugoslavia and other Central and Eastern European countries. The paper argues that the measurement concept is crucial for assessing the significance of seigniorage.