Anne Laski

I am a doctoral student at Brandeis University International Business School in Waltham, Massachusetts. My research focuses on monetary economics and household saving behavior. In my JMP, I identify a seigniorage channel that biases the optimal inflation target for a currency hegemon upward. I show this channel using a two-country heterogenous agent model with idiosyncratic income shocks and a single asset (fiat currency) produced by a monopolist, i.e. the currency hegemon. By collecting an inflation tax from foreign households, this hegemon subsidizes a current account deficit and raises aggregate domestic welfare. These welfare gains come at the expense of the rest of the world.

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trade  finance  monetary policy