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Underground economy and aggregate fluctuations

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Author Info
Juan Carlos Conesa
Carlos Diaz Moreno
Jose Enrique Galdon Sanchez (Universitat de Barcelona)

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Abstract

This paper explores the role of underground economic activities as an explanation for cross-country differences in registered aggregate fluctuations. In order to do so, we develop a two-sector Real Business Cycle model calibrated to the USA economy. In our model, individuals will participate or not in registered economic activities according to the wage premium, i.e. the ratio of average wages to the minimum wage. Our main result is that exogenously specified differences in the wage premium could account for the high range of registered aggregate fluctuations found across countries.

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Publisher Info
Paper provided by Universitat de Barcelona. Espai de Recerca en Economia in its series Working Papers in Economics with number 17.

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Length: 0 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:bar:bedcje:199717

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Postal: Espai de Recerca en Economia, Facultat de Ciències Econòmiques. Tinent Coronel Valenzuela, Num 1-11 08034 Barcelona. Spain.
Web page: http://www.ere.ub.es
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Find related papers by JEL classification:
E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

Cited by:
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  1. Silvia Sgherri, 2005. "Long-Run Productivity Shifts and Cyclical Fluctuations: Evidence for Italy," IMF Working Papers 05/228, International Monetary Fund. [Downloadable!]
  2. Maurizio Bovi & Peter Claeys, 2008. "Treasury V Dodgers. A Tale of Fiscal Consolidation and Tax Evasion," ISAE Working Papers 93 Classification-JEL E62, ISAE - Institute for Studies and Economic Analyses - (Rome, ITALY). [Downloadable!]
  3. Francesco Busato & Bruno Charini & Enrico Marchetti, 2004. "Indeterminacy, Underground Activities and Tax Evasion," Economics Working Papers 2004-12, School of Economics and Management, University of Aarhus. [Downloadable!]
    Other versions:
  4. Amedeo Argentiero & Michele Bagella & Francesco Busato, 2008. "Money laundering in a two-sector model: using theory for measurement," European Journal of Law and Economics, Springer, vol. 26(3), pages 341-359, December. [Downloadable!] (restricted)
    Other versions:
  5. Jose Maria Serrano & Maria Dolores Gadea, 2005. "What causes the hidden economy in Spain?," Applied Financial Economics Letters, Taylor and Francis Journals, vol. 1(3), pages 143-150, May. [Downloadable!] (restricted)
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This page was last updated on 2009-12-17.

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