The Fiscal Effects of the Federal Reserve

2 Pages Posted: 26 Jan 2012 Last revised: 4 May 2012

Date Written: January 23, 2012

Abstract

The Federal Reserve's policies have large and growing fiscal effects that most tax analysts are unaware of. For example, its deposits to the Treasury amount to almost 4 percent of federal revenues. And in the National Income and Product Accounts, the Fed accounts for almost 25 percent of all corporate tax receipts.

Errata: There are typos on page 2. The figures should read 9.2 cents for $20 and $50 bills, and 7.7 cents for each $100, not $9.2 and $7.7.

Keywords: Federal Reserve, National Income and Product Accounts

JEL Classification: H20, E01, E58, E62

Suggested Citation

Bartlett, Bruce, The Fiscal Effects of the Federal Reserve (January 23, 2012). Tax Notes, Vol. 134, No. 4, p. 471, 2012, Available at SSRN: https://ssrn.com/abstract=1991286

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
180
Abstract Views
1,458
rank
182,672
PlumX Metrics