Estimating the Black Economy through Monetary Approach: A Case Study of Pakistan

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Estimating the Black Economy through Monetary Approach: A Case Study of Pakistan

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Hussain, M. Haider
Ahmed, Q. Masood

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M. Haider Hussain

Abstract

In the recent years, the ‘black economy’ has held enormous appeal for policy makers. Presence of black economy creates critical misrepresentation of macroeconomic variables in official estimates that lead to the false determination and delusional impact of economic policies. Similarly, black economy represents the unrecorded potential of the economy vis-à-vis resource generation and mobilization. The Economy of Pakistan underwent several minor tax reforms since 1960’s. However, the tax and tariff reform of 1990’s, committed under international pressure, was the first comprehensive exercise and therefore it becomes highly desirable to gauge its impact on the black economy and tax evasion practices. This paper, with some modifications, uses the standard monetary approach to obtain the latest estimates of the size of black economy and its macroeconomic implications thereof.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 8153.

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Date of creation: Oct 2006
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Handle: RePEc:pra:mprapa:8153

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Find related papers by JEL classification:
O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Ravn, Morten O. & Uhlig, Harald, 2001. "On Adjusting the HP-Filter for the Frequency of Observations," CEPR Discussion Papers 2858, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
Other versions:
- Ravn, M.O. & Uhlig, H., 1997. "On adjusting the hp-filter for the frequency of observations," Discussion Paper 50, Tilburg University, Center for Economic Research. [Downloadable!]
- Morten O. Ravn & Harald Uhlig, 2001. "On Adjusting the HP-Filter for the Frequency of Observations," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
Feige, Edgar L., 1990. "Defining and estimating underground and informal economies: The new institutional economics approach," World Development, Elsevier, vol. 18(7), pages 989-1002, July. [Downloadable!] (restricted)
Other versions:
- Edgar L. Feige, 2003. "Defining And Estimating Underground And Informal Economies: The New Institional Economics Approach," Development and Comp Systems 0312003, EconWPA. [Downloadable!]
Edgar L. Feige, 2004. "How Big IS the Irregular Economy?," Macroeconomics 0404005, EconWPA. [Downloadable!]

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