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Underground Shocks Ground Zero Responses

Author

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  • Maurizio Bovi

    (Institute for Studies & Economic Analyses ISAE)

Abstract

The aim of this paper is twofold. First, new annual data on Italian irregular sector for the period 1980-1991 are reconstructed. These data are compatible with the available 1992-2001 official data. Second, based on this self-consistent “long” sample a time series analysis of the two sides – the underground and the regular - of the Italian GDP is performed. Results from univariate and VAR models seem to suggest that there are no connections (causal relationship, feedbacks, contemporaneous cyclical movements, common stochastic trends) between these two time series. In this sense, we could correctly refer to the Italian black sector as an “independent economy”.

Suggested Citation

  • Maurizio Bovi, 2004. "Underground Shocks Ground Zero Responses," Public Economics 0408003, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwppe:0408003
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    Cited by:

    1. Pablo Duarte, 2017. "The relationship between GDP and the size of the informal economy: empirical evidence for Spain," Empirical Economics, Springer, vol. 52(4), pages 1409-1421, June.

    More about this item

    Keywords

    Underground economy; VAR models;

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion and Avoidance

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