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The Unobserved Economy And The Uk Laffer Curve

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  • Edgar L. Feige

    (University of Wisconsin-Madison)

  • Robert T. McGee

    (University of Wisconsin-Madison)

Abstract

Recent research on the unobserved economy suggests that the phenomenon has important implications for both macroeconomic policy and public finance. Attention is focused on the public finance implications by examining a macro-model model from which it is possible to derive a family of Laffer curves. The model reveals that the final shape and position of the Laffer curve depends upon the strength of supply side effects, the progressivity of the tax system and the size of the unobserved economy. Using alternative parameterizations of each of these effects, we obtain rough empirical estimates of the Laffer curve for the UK. Reference: Journal of Economic Affairs, Vol. 3, No.1, October, 1982, pp.36-42.

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Bibliographic Info

Paper provided by EconWPA in its series Macroeconomics with number 0502013.

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Length: 6 pages
Date of creation: 04 Feb 2005
Date of revision:
Handle: RePEc:wpa:wuwpma:0502013

Note: Type of Document - pdf; pages: 6
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Web page: http://128.118.178.162

Related research

Keywords: UNOBSERVED ECONOMY; UNDERGROUND ECONOMY; LAFFER CURVE; SUPPLY SIDE;

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Cited by:
  1. Schneider, Friedrich, 2006. "Shadow Economies and Corruption All Over the World: What Do We Really Know?," IZA Discussion Papers 2315, Institute for the Study of Labor (IZA).
  2. Schneider, Friedrich, 2004. "The Size of the Shadow Economies of 145 Countries all over the World: First Results over the Period 1999 to 2003," IZA Discussion Papers 1431, Institute for the Study of Labor (IZA).
  3. Schneider, Friedrich, 2008. "The Shadow Economy in Germany - A Blessing or a Curse for the Official Economy?," Economic Analysis and Policy (EAP), Queensland University of Technology (QUT), School of Economics and Finance, vol. 38(1), pages 89-111, March.

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