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Estimating money laundering in Italy, Eurozone and North America

Author

Listed:
  • Michele Bagella

    (Università di Roma Tor Vergata)

  • Francesco Busato

    (Università di Napoli Parthenope)

  • Amedeo Argentiero

    (Università di Macerata)

Abstract

This paper explores the ability of a class of two-sector dynamic general equilibrium models to generate equilibrium time series for Money Laundering (Ml), through numerical simulations.The paper adopts this approach for the Italian, Us and the Eu-15 economies.The simulations show that Ml accounts for 19 % of Gdp in the Eu-15 economy, while it accounts for 13 % in the Us and 12% in Italy. Moreover, the Ml simulated for the Eu-15 is less volatile and negatively correlated with respect to Gdp, while the correlation is positive for the Us economy.

Suggested Citation

  • Michele Bagella & Francesco Busato & Amedeo Argentiero, 2010. "Estimating money laundering in Italy, Eurozone and North America," BANCARIA, Bancaria Editrice, vol. 11, pages 15-22, November.
    • Handle: RePEc:ban:bancar:v:11:y:2010:m:november:p:15-22
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    File URL: http://www.bancariaeditrice.it/prodotti/vedi/prodotto/id/2418/bancaria-n-12-2010
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    More about this item

    Keywords

    riciclaggio; modello di equilibrio generale dinamico; economia criminale.;
    All these keywords.

    JEL classification:

    • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General

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