Tax Collection Lags and the Revenue-Maximising Inflation: The Case of Greece

Nicos Christodoulakis

Empirical Economics, 1994, vol. 19, issue 3, 329-42

Abstract: When tax payments take place with a considerable time lag, inflation erodes part of their real value, and this loss may be comparable or even surpass the well-known gains from seigniorage. The paper finds that for the economy of Greece, a reduction of inflation will actually raise the total sum of tax collection and seigniorage, thus easing and not aggravating the debt-accumulation process.

Date: 1994
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