As expected, the Fund's Board of Directors approved the review of Argentina's program, although it made it clear that Massa failed to meet all goals. The IMF applauds the fiscal effort promised by...
Inflation and Seigniorage in Argentina
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Inflation and Seigniorage in Argentina
Kiguel & Neumeyer, 1989.
In Argentina, increases in inflation appear to be closely linked to government attempts to increase seigniorage (government revenues from issuing money). The implication? Any serious stabilization effort requires finding an alternative source of revenue to replace the "inflation tax."