{
  "title": "Spending Seigniorage: Do Central Banks Have a Governance Problem?",
  "publication": "IMF Working Papers, March 1, 2006",
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  "summary": "This paper reviews how central banks allocate seigniorage, based on systematic crosscountry comparisons of their financial accounts. Central banks are classified as weak or strong, depending upon their structural profitability.",
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    {
      "heading": "Main objective and approach",
      "content": "- Reviews how central banks allocate seigniorage based on systematic crosscountry comparisons of their financial accounts.\n- Classifies central banks as \"weak or strong\" depending upon their structural profitability."
    },
    {
      "heading": "Characteristics of weak central banks",
      "content": "- Typically (although not exclusively) operate in smaller and less wealthy countries.\n- Lack independence from their governments.\n- Are burdened by compulsory transfers and low capital.\n- Exhibit high:\n  - operating expenditures,\n  - nonperforming assets,\n  - international reserve carrying costs,\n  - international reserve accumulation needs."
    },
    {
      "heading": "Governance findings",
      "content": "- Governance appears to be a potential concern in many central banks, both weak and strong.\n- Observed behavioral patterns:\n  - Operating expenditures often adjust upward for high profitability.\n  - Capital accumulation often adjusts downward for low profitability."
    },
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      "heading": "Policy implications (briefly reviewed)",
      "content": "- The paper briefly reviews the main policy implications arising from the findings on seigniorage allocation, structural profitability, and governance concerns."
    },
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      "content": "- Author: Alain Ize\n- Date: March 1, 2006\n- Series: IMF Working Papers\n- Issue: 058\n- Pages: 34\n- DOI: https://doi.org/10.5089/9781451863185.001\n\nSource: Spending Seigniorage: Do Central Banks Have a Governance Problem?, IMF Working Paper by Alain Ize, March 1, 2006.\n\n---\n\n Content in this bundle\n\n- wp0658\n  - wp0658 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp0658 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/spending-seigniorage-do-central-banks-have-a-governance-problem-18879"
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    "Authors: Alain Ize",
    "Published: March 1, 2006",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451863185.001",
    "Reviews how central banks allocate seigniorage based on systematic crosscountry comparisons of their financial accounts.",
    "Classifies central banks as \"weak or strong\" depending upon their structural profitability.",
    "Typically (although not exclusively) operate in smaller and less wealthy countries.",
    "Lack independence from their governments.",
    "Are burdened by compulsory transfers and low capital.",
    "Exhibit high:",
    "Governance appears to be a potential concern in many central banks, both weak and strong.",
    "Observed behavioral patterns:",
    "The paper briefly reviews the main policy implications arising from the findings on seigniorage allocation, structural profitability, and governance concerns.",
    "Author: Alain Ize",
    "Date: March 1, 2006",
    "Series: IMF Working Papers",
    "Issue: 058",
    "Pages: 34",
    "DOI: https://doi.org/10.5089/9781451863185.001",
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