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The Hare and the Tortoise. How Older Generations Are Replaced By Young One on the Labour Market: Signals and Insights from the Relationship between Shadow Economy and Active Ageing

Listed author(s):
  • Adriana AnaMaria DAVIDESCU


    (Bucharest University of Economic Studies, National Scientific Research Institute for Labour and Social Protection, Romania)

  • Catalin Corneliu GHINARARU


    (National Scientific Research Institute for Labour and Social Protection, Romania)

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    The paper aims to analyze the relationship between the size of Romanian shadow economy expressed as % of official GDP and active ageing in order to see if the shadow economy represents a social buffer for active ageing phenomena using Granger causality analysis. The size of Romanian shadow economy is estimated previously using a revised version of the currency demand approach based on autoregressive distributed lag (ARDL) approach to cointegration analysis. Using Granger causality tests, we examine the relationship between employment rate for older people and the size of Romanian shadow economy covering the period between 2000 and 2010. The empirical results revealed the existence of a long-run unidirectional causality that runs shadow economy to employment rate for elderly and do not support the existence of any short-run relationship between employment rate for older people and shadow economy.

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    Article provided by Faculty of Management, Academy of Economic Studies, Bucharest, Romania in its journal ECONOMIA seria MANAGEMENT / ECONOMY - MANAGEMENT series.

    Volume (Year): 18 (2015)
    Issue (Month): 1 (June)
    Pages: 163-171

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    Handle: RePEc:rom:econmn:v:18:y:2015:i:1:p:163-171
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    1. Pantula, Sastry G., 1989. "Testing for Unit Roots in Time Series Data," Econometric Theory, Cambridge University Press, vol. 5(02), pages 256-271, August.
    2. Iustina Boitan, 2014. "Concentration of Labor Market Risks: A European Union Cross-Country Perspective," Journal of Economic Issues, M.E. Sharpe, Inc., vol. 48(1), pages 197-228, March.
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