Seigniorage revenue and Turkish economy

In our paper, we try to investigate the courses of inflation tax and seigniorage revenue for policy makers of the Turkish economy. For this purpose, we first construct an ex-ante seigniorage revenue maximizing inflation model, and then calculate annual inflation tax and seigniorage revenues for the post-1980 period Turkish economy. Following these theoretical issues, an empirical model is constructed upon the Turkish economy, and our expost estimation results reveal that inside the period considered, the Turkish economy lies on the correct or efficient side of the seigniorage maximizing Laffer curve.