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Informal Economic Estimation Models at Macroeconomic Level. Some Theoretical and Methodologial Considerations

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Author Info

  • Lucian Liviu ALBU

    (National Economic Forecasting Institute, Romanian Academy, Bucharest, Romania)

  • Ion GHIZDEANU

    (National Economic Forecasting Institute, Romanian Academy, Bucharest, Romania, President of the Romanian Commission for Economic Forecasting)

  • Mărioara IORDAN

    (National Economic Forecasting Institute, Romanian Academy, Bucharest, Romania)

Abstract

The analytical approach is conducted at the macroeconomic level and the problems that are discussed here come under the impact of the fiscal policy and the tax level on the macro stabilizing programs, the way it is approached in the literature and some of these models are presented here. In Romania’s case, the methodology of Dobrescu (1994, 1996) and Albu and the others (1998) is the most common methodology used, for the transition period, in order to estimate the impact that the grey economy has by comparison with the general economy dynamics and the relationship between the grey economy and the institutional approach (Daianu şi Albu, 1997). In the same time, there are some references are made to the detailed study on Laffer’s curve and its implications on the fiscal policy plans made by the Economic Forecast Institute in the CEPREMAP (Albu, 1995). Starting from the development of the previous theoretical model regarding the tax evasion in the grey economy using macroeconomics statistical data that are usually employed, in three sub-models, and through their combination, the authors build a general model.

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Bibliographic Info

Article provided by West University of Timisoara, Romania, Faculty of Economics and Business Administration in its journal Timisoara Journal of Economics.

Volume (Year): 1 (2008)
Issue (Month): 2 ()
Pages: 177-190

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Handle: RePEc:wun:journl:tje:v01:y2008:i02:a04

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References

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  1. Pencavel, John H., 1979. "A note on income tax evasion, labor supply, and nonlinear tax schedules," Journal of Public Economics, Elsevier, vol. 12(1), pages 115-124, August.
  2. Kesselman, Jonathan R., 1989. "Income tax evasion : An intersectoral analysis," Journal of Public Economics, Elsevier, vol. 38(2), pages 137-182, March.
  3. Yitzhaki, Shlomo, 1974. "Income tax evasion: A theoretical analysis," Journal of Public Economics, Elsevier, vol. 3(2), pages 201-202, May.
  4. Albu, Lucian-Liviu & Kim, Byung-Yeon & Duchene, Gerard, 2002. "An attempt to estimate the size of informal economy based on household behaviour modeling," MPRA Paper 13026, University Library of Munich, Germany.
  5. Clotfelter, Charles T, 1983. "Tax Evasion and Tax Rates: An Analysis of Individual Returns," The Review of Economics and Statistics, MIT Press, vol. 65(3), pages 363-73, August.
  6. Pestieau, P. & Possen, U.M., 1988. "Tax Evasion And Occupational Choice," Papers 404, Cornell - Department of Economics.
  7. Bhattacharyya, Dilip K, 1999. "On the Economic Rationale of Estimating the Hidden Economy," Economic Journal, Royal Economic Society, vol. 109(456), pages F348-59, June.
  8. Albu, Lucian Liviu, 2007. "Estimating the Size of Underground Economy in Romania," Working Papers of Institute for Economic Forecasting 070601, Institute for Economic Forecasting.
  9. Daniel Daianu & Lucian Albu, 1997. "Institutions, Strains and the Underground Economy," William Davidson Institute Working Papers Series 98, William Davidson Institute at the University of Michigan.
  10. Albu, Lucian-Liviu & Nicolae, Mariana, 2003. "Use of households survey data to estimate the size of the informal economy in Romania," MPRA Paper 14286, University Library of Munich, Germany.
  11. Tobin, James, 1969. "Comment on Borch and Feldstein," Review of Economic Studies, Wiley Blackwell, vol. 36(105), pages 13-14, January.
  12. Philip Cagan, 1958. "The Demand for Currency Relative to Total Money Supply," NBER Books, National Bureau of Economic Research, Inc, number caga58-1.
  13. Fortin, Bernard & Lacroix, Guy, 1994. "Labour supply, tax evasion and the marginal cost of public funds an empirical investigation," Journal of Public Economics, Elsevier, vol. 55(3), pages 407-431, November.
  14. Dominik H. Enste & Friedrich Schneider, 2000. "Shadow Economies: Size, Causes, and Consequences," Journal of Economic Literature, American Economic Association, vol. 38(1), pages 77-114, March.
  15. Albu, Lucian Liviu, 2001. "Tax Evasion And The Size Of Underground Economy: A Theoretical And Empirical Investigation," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 16-31, June.
  16. Frey, Bruno S & Pommerehne, Werner W, 1984. "The Hidden Economy: State and Prospects for Measurement," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 30(1), pages 1-23, March.
  17. Dobrescu, Emilian, 1996. "Macromodels of the Romanian transition Economy," MPRA Paper 35810, University Library of Munich, Germany.
  18. Isachsen, Arne Jon & Strom, Steinar, 1980. " The Hidden Economy: The Labor Market and Tax Evasion," Scandinavian Journal of Economics, Wiley Blackwell, vol. 82(2), pages 304-11.
  19. Friedrich Schneider & Dominik Enste, 1999. "Shadow Economies Around the World - Size, Causes, and Consequences," CESifo Working Paper Series 196, CESifo Group Munich.
  20. Albu, Lucian Liviu, 2007. "Underground Economy And Fiscal Policies Modeling," Working Papers of Institute for Economic Forecasting 071202, Institute for Economic Forecasting.
  21. Albu, Lucian-Liviu & Kim, Byung-Yeon & Duchene, Gerard, 2002. "Households’ activities in informal economy: size and behavioural aspects," MPRA Paper 13072, University Library of Munich, Germany.
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