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The Anatomy Of The Underground Economy

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Author Info

  • Edgar L. Feige

    (University of Wisconsin-Madison)

Abstract

The “underground economy” literature has generated a plethora of vague terms (shadow, hidden, subterranean) that have served to confuse rather than clarify the substantive issues raised by the finding that significant segments of economic activity may be imperfectly accounted for in the conventional data bases that form the foundation of empirical inquiry in economics. This paper outlines a taxonomic framework that clarifies the distinction between “unrecorded” and “unreported” economic activities and examines the appropriate empirical counterparts of these concepts. All too often, the under-recording of income in National Income and Product Accounts has been confused with the underreporting of income on tax forms. The concept of a “full compliance deficit” is introduced in order to distinguish between structural, cyclical and compliance components of budget deficit measures. Reference: The Unofficial Economy, Alessandrini and Dallago (eds.) Gower, 1987. pp. 83- 106.

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File URL: http://128.118.178.162/eps/mac/papers/0502/0502011.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Macroeconomics with number 0502011.

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Length: 24 pages
Date of creation: 03 Feb 2005
Date of revision:
Handle: RePEc:wpa:wuwpma:0502011

Note: Type of Document - pdf; pages: 24
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Web page: http://128.118.178.162

Related research

Keywords: underground; unreported; unrecorded; non-observed; shadow; deficits; full compliance deficit; IRS; tax gap.;

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Cited by:
  1. Edgar L. Feige & Vedran Šošiæ & Michael Faulend & Velimir Šonje, 2002. "Unofficial Dollarization in Latin America: Currency Substitution, Network Externalities and Irreversibility," International Finance 0205002, EconWPA.
  2. Klarita Gërxhani, 2007. "“Did You Pay Your Taxes?” How (Not) to Conduct Tax Evasion Surveys in Transition Countries," Social Indicators Research, Springer, vol. 80(3), pages 555-581, February.
  3. Klarita Gërxhani & Schram, A., 2003. "WP 11 - Tax evasion and the source of income: An experimental study in Albania and the Netherlands," AIAS Working Papers wp11, AIAS, Amsterdam Institute for Advanced Labour Studies.
  4. Klarita Gërxhani, 2003. "WP 8 - Tax vasion in transition: Outcome of an institutional clash? -Testing Feige's conjecture," AIAS Working Papers wp8, AIAS, Amsterdam Institute for Advanced Labour Studies.
  5. Adenutsi, Deodat E. & Yartey, Charles A., 2007. "Financial sector development and the macrodynamics of ‘de facto’ dollarisation in developing countries: the case of Ghana," MPRA Paper 29333, University Library of Munich, Germany.

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