The hidden economy in Spain - A monetary estimation, 1964-1998
AbstractThe aim of this paper is to estimate the level and evolution of hidden income in Spain during the period 1964-1997. To this end, we employ the well-known monetary approach which supposes that the hidden economy is a response on the part of the economic agents to the tax burden, one which manifests itself in an excess of demand for currency. The estimation has been made on the basis of the ADL technique, an ECM and Johansen's cointegration approach. The period chosen was characterised by multiple institutional changes, an increase in the tax burden and wide-ranging financial liberalisation. This has obliged us to formulate a specific monetary model to estimate the hidden economy and is one of the original features of that model.
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Bibliographic InfoArticle provided by Springer in its journal Empirical Economics.
Volume (Year): 27 (2002)
Issue (Month): 3 ()
Note: received: February 1999/Final version received: March 2001
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- E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
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- Michael Pickhardt & Jordi Sardà, .
"Size and causes of the underground economy in Spain: A correction of the record and new evidence from the MCDR approach,"
201280, Institute of Spatial and Housing Economics, Munster Universitary.
- Pickhardt, Michael & Sardà, Jordi, 2011. "Size and causes of the underground economy in Spain: A correction of the record and new evidence from the MCDR approach," CAWM Discussion Papers 54, Center of Applied Economic Research Münster (CAWM), University of Münster.
- Jerry Marmen Simanjuntak, 2008. "Currency Demand Modeling In Estimating The Underground Economy: A Critique on ‘Excess Sensitivity’ Method and Support for VAR Framework," Working Papers in Economics and Development Studies (WoPEDS) 200806, Department of Economics, Padjadjaran University, revised Sep 2008.
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