Measuring the Fed's Revenue from Money Creation
NBER Working Paper No. 883
The national accounts include the Fed's payments to the Treasury as a component of corporate taxes. These payments constituted 22% of reported corporate profits taxes in 1981. This paper discusses alternative concepts of inflationary finance. Measures for these concepts are reported for the post-World War I1 period
Published: Barro, Robert J. "Measuring the Fed's Revenue from Money Creation." Economics Letters, (1982).