The underground economy in the United States: estimates and implications
Reads0
Chats0
TLDR
In this paper, the authors employ a modified version of Cagan's model, estimating the demand for such "illegal currency" from 1929 to 1976, the longest period for which data are available for the U.S at this time.Abstract:
The paper analyses the increasing relevance that the underground economy has taken on in the United States and in the political debate of the country. It then proceeds to estimate the size of the U.S. underground economy by estimating the demand for currency for underground transactions. To do so, the author employs a modified version of Cagan’s model, estimating the demand for such “illegal currency” from 1929 to 1976, the longest period for which data are available for the U.S at this time.read more
Citations
More filters
Journal ArticleDOI
Shadow Economies: Size, Causes, and Consequences
TL;DR: In this paper, the size of the shadow economy in 76 developing, transition, and OECD countries is estimated using various methods, and the average size varies from 12 percent of GDP for OECD countries, to 23 percent for transition countries and 39 percent for developing countries.
Journal ArticleDOI
Cheating ourselves: The economics of tax evasion
TL;DR: Tax evasion has been extensively studied in the literature as discussed by the authors, with an emphasis on the U.S. income tax, and tax evasion is a legal responsibility of citizens, with penalties attendant on noncompliance.
Journal ArticleDOI
Shadow economies around the world: what do we really know?
TL;DR: In this paper, the authors present estimates of the shadow economy for 110 countries, including developing, transition and developed OECD economies, and the average size of shadow economy as a proportion of official GDP in 1999-2000 in developing countries was 41%, in transition countries 38, and in OECD countries 17%.
Journal ArticleDOI
The hidden economy as an ‘unobserved’ variable
TL;DR: In this article, the authors used the technique of unobserved variables to estimate the relative size and development time of the hidden economy of OECD countries and found that the burdens of taxation and regulations and the tax morality turn out to be statistically significant determinants.