Seigniorage as a tax: a quantitative evaluation

Ayse Imrohoroglu and Edward Prescott

No 132, Staff Report from Federal Reserve Bank of Minneapolis

Abstract: In this paper we analyze the efficacy of seignorage as a tax associated with various monetary arrangements in a computable general equilibrium model. For the economies examined, we find that seignorage tax is not a good one relative to a tax on labor income. If the after-tax real return is ?5 percent, as it was in the 1974?1978 period, welfare is approximately 0.5 percent of consumption lower than it would be if the after-tax return were zero.

Keywords: Fiscal policy; Taxation (search for similar items in EconPapers)
Date: 1991
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (30)

Published in Quarterly Review (Vol 15, Num 3, Summer 1991, pp. 3-10)

Downloads: (external link)
https://www.minneapolisfed.org/research/sr/sr132.pdf Full Text (application/pdf)

Related works:
Journal Article: Seigniorage as a tax: a quantitative evaluation (1991)
Journal Article: Seigniorage as a Tax: A Quantitative Evaluation (1991)
Working Paper: Seigniorage As a Tax: A Quantitative Evaluation (1991)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedmsr:132

Access Statistics for this paper

More papers in Staff Report from Federal Reserve Bank of Minneapolis Contact information at EDIRC.
Bibliographic data for series maintained by Kate Hansel ().