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Estimating The Size Of Romanian Shadow Economy Using The Currency Demand Approach

  • ALEXANDRU ADRIANA ANAMARIA

    ()

    (Academia de Studii Economice Bucuresti, Cibernetica, Statistica si Informatica Economica)

  • DOBRE ION

    ()

    (Academia de Studii Economice Bucuresti, Cibernetica, Statistica si Informatica Economica)

  • GHINARARU CATALIN

    ()

    (Institutul National de Cercetare in Domensiul Muncii si Protectiei Sociale)

Registered author(s):

    In this paper, we estimate the size and the evolution of the Romanian shadow economy in the period 1998Q1-2008Q4, using a vector error correction model. A special attention it was given to the problem of non-stationarity and cointegration. The results ind

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    Article provided by University of Oradea, Faculty of Economics in its journal The Journal of the Faculty of Economics - Economic.

    Volume (Year): 2 (2009)
    Issue (Month): 1 (May)
    Pages: 623-631

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    Handle: RePEc:ora:journl:v:2:y:2009:i:1:p:623-631
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    1. Macias, Jose Brambila & Cazzavillan, Guido, 2009. "The dynamics of parallel economies. Measuring the informal sector in Mexico," Research in Economics, Elsevier, vol. 63(3), pages 189-199, September.
    2. Ahumada, Hildegart & Alvaredo, Facundo & Canavese, Alfredo J., 2006. "The Demand for Currency Approach and the Size of the Shadow Economy: A Critical Assessment," Berkeley Olin Program in Law & Economics, Working Paper Series qt6zn9p98b, Berkeley Olin Program in Law & Economics.
    3. David E. A. Giles, 1999. "Modelling the hidden economy and the tax-gap in New Zealand," Empirical Economics, Springer, vol. 24(4), pages 621-640.
    4. Schneider, Friedrich G., 2007. "Shadow Economies and Corruption All Over the World: New Estimates for 145 Countries," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 1, pages 1-66.
    5. Peter S. Spiro, 1996. "Monetary Estimates of the Underground Economy: A Critical Evaluation," Canadian Journal of Economics, Canadian Economics Association, vol. 29(s1), pages 171-75, April.
    6. Adrián Guisarri, 1987. "La Demanda de Circulante y la Informalidad en la Argentina 1930-1983," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 24(72), pages 197-224.
    7. Edgar L. Feige, 2005. "Overseas Holdings Of U.S.Currency And The Underground Economy," Macroeconomics 0501022, EconWPA.
    8. Dominik H. Enste & Friedrich Schneider, 2000. "Shadow Economies: Size, Causes, and Consequences," Journal of Economic Literature, American Economic Association, vol. 38(1), pages 77-114, March.
    9. Enste, Dominik & Schneider, Friedrich, 1998. "Increasing Shadow Economies all over the World - Fiction or Reality?," IZA Discussion Papers 26, Institute for the Study of Labor (IZA).
    10. Friedrich Schneider, 2006. "Shadow Economies and Corruption all over the World: What do we really Know?," CESifo Working Paper Series 1806, CESifo Group Munich.
    11. Albu, Lucian Liviu, 2007. "Estimating the Size of Underground Economy in Romania," Working Papers of Institute for Economic Forecasting 070601, Institute for Economic Forecasting.
    12. Engle, Robert F. & Yoo, Byung Sam, 1987. "Forecasting and testing in co-integrated systems," Journal of Econometrics, Elsevier, vol. 35(1), pages 143-159, May.
    13. Philip Cagan, 1958. "The Demand for Currency Relative to Total Money Supply," NBER Chapters, in: The Demand for Currency Relative to Total Money Supply, pages 1-37 National Bureau of Economic Research, Inc.
    14. Johnson, Simon & Kaufmann, Daniel & Zoido-Lobaton, Pablo, 1998. "Regulatory Discretion and the Unofficial Economy," American Economic Review, American Economic Association, vol. 88(2), pages 387-92, May.
    15. Albu, Lucian Liviu, 2008. "A Model To Estimate Spatial Distribution Of Informal Economy," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(4), pages 111-124, December.
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