Macroeconomic time series and the monetary aggregates approach to estimating the underground economy
AbstractThis paper examines the monetary aggregates approach to estimating the size of the underground economy. It is shown that estimates of the size of the underground economy using Canadian data may not be robust, as the time series properties of these aggregates are often inconsistent with simple ordinary least squares regression. Correcting for the problem, usually by first differencing the data, may yield overstated or inappropriate estimates of the size of the underground economy.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 6 (1999)
Issue (Month): 9 ()
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- Angel Alanon & M. Gomez-Antonio, 2005. "Estimating the size of the shadow economy in Spain: a structural model with latent variables," Applied Economics, Taylor & Francis Journals, vol. 37(9), pages 1011-1025.
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