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Macroeconomic time series and the monetary aggregates approach to estimating the underground economy

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  • Frank Atkins

Abstract

This paper examines the monetary aggregates approach to estimating the size of the underground economy. It is shown that estimates of the size of the underground economy using Canadian data may not be robust, as the time series properties of these aggregates are often inconsistent with simple ordinary least squares regression. Correcting for the problem, usually by first differencing the data, may yield overstated or inappropriate estimates of the size of the underground economy.

Suggested Citation

  • Frank Atkins, 1999. "Macroeconomic time series and the monetary aggregates approach to estimating the underground economy," Applied Economics Letters, Taylor & Francis Journals, vol. 6(9), pages 609-611.
    • Handle: RePEc:taf:apeclt:v:6:y:1999:i:9:p:609-611
    DOI: 10.1080/135048599352718
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    Cited by:

    1. Patrick Harvey & W. David Walls, 2003. "Laboratory markets in counterfeit goods: Hong Kong versus Las Vegas," Applied Economics Letters, Taylor & Francis Journals, vol. 10(14), pages 883-887.
    2. M Ali Kemal, 2003. "Underground Economy and Tax Evasion in Pakistan:A Critical Evaluation," PIDE Research Report 2003:184, Pakistan Institute of Development Economics.
    3. Angel Alanon & M. Gomez-Antonio, 2005. "Estimating the size of the shadow economy in Spain: a structural model with latent variables," Applied Economics, Taylor & Francis Journals, vol. 37(9), pages 1011-1025.
    4. M. Ali Kemal, 2003. "Underground Economy and Tax Evasion in Pakistan A Critical Evaluation," PIDE-Working Papers 2003:184, Pakistan Institute of Development Economics.
    5. Richard J. Cebula, 2004. "Income Tax Evasion Revisited: The Impact of Interest Rate Yields on Tax‐Free Municipal Bonds," Southern Economic Journal, John Wiley & Sons, vol. 71(2), pages 418-423, October.
    6. Richard Cebula, 2003. "Tax evasion as ade facto vote of disapproval of PAC contributions," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 31(4), pages 338-347, December.
    7. Cebula, Richard & McGrath, Richard, 2000. "An Empirical Note on Determinants of Income Tax Evasion, 1973-1997," MPRA Paper 58549, University Library of Munich, Germany.

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