01983cas a2200241 a 4500 AALejournalIMF002226 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451845495 1018-5941 BD-DhAAL BD-DhAAL Hamann, A. Private Saving, Public Saving, and the Inflation Tax : Another Look At An Old Issue / A. Hamann. Washington, D.C. : International Monetary Fund, 1993. 1 online resource (20 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The present paper provides an analytical discussion on a popular issue: the measurement problems associated with the inflation tax. It is well known that conventional national accounts definitions usually misplace the proceeds from the inflation tax: they are typically not subtracted from disposable income, and they are not included as part of the Government's revenues 'above the line.' Using a simple, perfect foresight monetary model developed by Calvo (1986, 1987), this paper analyzes the difference between macroeconomically relevant concepts of public and private saving, and their national accounts counterparts. The paper goes on to show that the national account aggregates create the impression that heavier reliance on the inflation tax on the part of the Government is associated with higher private saving, even in situations where the composition of government revenues does not have any effect on private saving. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1993/037 Full text available on IMF http://elibrary.imf.org/view/journals/001/1993/037/001.1993.issue-037-en.xml IMF e-Library