Australia’s underground economy – redux?
AbstractBajada (2006) recognises that his earlier books and papers used a faulty method for measuring the underground economy in Australia. He also reports finding a new “more serious problem” in the method. All of these failures can be avoided, it is claimed, by reduced use of currency modelling and more reliance on outside estimates. Despite delivering estimates up to two-thirds less than before, the revised method involves substantial double counting. Ironically, these problems are found only in Bajada’s particular method, not in currency modelling generally.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 9980.
Date of creation: Jun 2006
Date of revision:
underground economy; currency; taxes; economic models;
Find related papers by JEL classification:
- 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
- E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy
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- Bajada, Christopher, 1999. "Estimates of the Underground Economy in Australia," The Economic Record, The Economic Society of Australia, The Economic Society of Australia, vol. 75(231), pages 369-84, December.
- Roderick Hill & Muhammed Kabir, 2000. "Currency demand and the growth of the underground economy in Canada, 1991-1995," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 32(2), pages 183-192.
- Friedrich Schneider, 2004.
"Shadow Economies around the World: What do we really know?,"
IAW Discussion Papers, Institut fÃ¼r Angewandte Wirtschaftsforschung (IAW)
16, Institut für Angewandte Wirtschaftsforschung (IAW).
- Schneider, Friedrich, 2005. "Shadow economies around the world: what do we really know?," European Journal of Political Economy, Elsevier, Elsevier, vol. 21(3), pages 598-642, September.
- Schneider, Friedrich, 1986. " Estimating the Size of the Danish Shadow Economy Using the Currency Demand Approach: An Attempt," Scandinavian Journal of Economics, Wiley Blackwell, Wiley Blackwell, vol. 88(4), pages 643-68.
- Christopher Bajada, 2003. "Business Cycle Properties of the Legitimate and Underground Economy in Australia," The Economic Record, The Economic Society of Australia, The Economic Society of Australia, vol. 79(247), pages 397-411, December.
- Mariá Dolores Gadea & José Mariá Serrano-Sanz, 2002. "The hidden economy in Spain - A monetary estimation, 1964-1998," Empirical Economics, Springer, Springer, vol. 27(3), pages 499-527.
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