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Informal Economic Estimation Models at Macroeconomic Level. Some Theoretical and Methodologial Considerations

Author

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  • Lucian Liviu ALBU

    (National Economic Forecasting Institute, Romanian Academy, Bucharest, Romania)

  • Ion GHIZDEANU

    (National Economic Forecasting Institute, Romanian Academy, Bucharest, Romania, President of the Romanian Commission for Economic Forecasting)

  • Mărioara IORDAN

    (National Economic Forecasting Institute, Romanian Academy, Bucharest, Romania)

Abstract

The analytical approach is conducted at the macroeconomic level and the problems that are discussed here come under the impact of the fiscal policy and the tax level on the macro stabilizing programs, the way it is approached in the literature and some of these models are presented here. In Romania’s case, the methodology of Dobrescu (1994, 1996) and Albu and the others (1998) is the most common methodology used, for the transition period, in order to estimate the impact that the grey economy has by comparison with the general economy dynamics and the relationship between the grey economy and the institutional approach (Daianu şi Albu, 1997). In the same time, there are some references are made to the detailed study on Laffer’s curve and its implications on the fiscal policy plans made by the Economic Forecast Institute in the CEPREMAP (Albu, 1995). Starting from the development of the previous theoretical model regarding the tax evasion in the grey economy using macroeconomics statistical data that are usually employed, in three sub-models, and through their combination, the authors build a general model.

Suggested Citation

  • Lucian Liviu ALBU & Ion GHIZDEANU & Mărioara IORDAN, 2008. "Informal Economic Estimation Models at Macroeconomic Level. Some Theoretical and Methodologial Considerations," Timisoara Journal of Economics, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 1(2), pages 177-190.
    • Handle: RePEc:wun:journl:tje:v01:y2008:i02:a04
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    References listed on IDEAS

    as
    1. Sandmo, Agnar, 1981. "Income tax evasion, labour supply, and the equity--efficiency tradeoff," Journal of Public Economics, Elsevier, vol. 16(3), pages 265-288, December.
    2. 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.
    3. Feige,Edgar L. (ed.), 1989. "The Underground Economies," Cambridge Books, Cambridge University Press, number 9780521262309, December.
    4. Albu, Lucian Liviu & Kim, Byung Yeon, 2002. "Households' Activities In Informal Economy: Size And Behavioural Aspects (Ii)," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 18-28, December.
    5. Schneider, Friedrich, 2002. "The Size and Development of the Shadow Economies of 22 Transition and 21 OECD Countries," IZA Discussion Papers 514, Institute of Labor Economics (IZA).
    6. 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.
    7. Albu, Lucian Liviu & Kim, Byung Yeon & Duchene, Gerard, 2002. "AN ATTEMPT TO ESTIMATE THE SIZE OF INFORMAL ECONOMY BASED ON HOUSEHOLD BEHAVIOUR MODELING (l)," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 17-24, March.
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