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The Seigniorage Gain of an International Currency: An Empirical Test

Benjamin J. Cohen

Princeton University

I. The concept of seigniorage, 495. — II. Its practical significance in the British case, 496. — III. The gross seigniorage gain from sterling, 498. — IV. The offsetting interest cost of the sterling balances, 502.

DOI

10.2307/1885935

Volume

85 (3)

Pages

494

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