SEIGNIORAGE PAYMENTS FOR USE OF THE DOLLAR - 1977-1995

I compute alternative seigniorage estimates for the US and relate them to total tax receipts and GDP. The estimates indicate the proximate s ize of the prize coveted by emerging and transitional economies unable to provide their residents with stable national monies. Barro's (1982 ) conjecture that Federal Reserve payments to the Treasury as percenta ge of corporate tax receipts would remain at early 1980s levels is exa mined also. (C) 1998 Elsevier Science S.A.