Resumo

MANTEY, Guadalupe. The Fiscal Support to the Central Bank and the Loss of the Seigniorage. Economía UNAM [online]. 2013, vol.10, n.30, pp.58-74. ISSN 1665-952X.

In this paper we analyze the impact they have had on the seigniorage of emission that once perceived by the governments, the deletion of an external asset as anchor of the international monetary system and the granting of autonomy to the national central Banks. It is argued that these institutional changes, together with the opening of the capital account of the balance of payments, have resulted in an undemocratic bias in monetary policy in emerging countries, especially when it is driving under the inflation targeting regime. The Mexican case is displayed as a representative example.

Palavras-chave : Monetary Policy; Central Bank and their Policies; Government Policy and Regulation.