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The Unobserved Economy And The Uk Laffer Curve

Author

Listed:
  • Edgar L. Feige

    (University of Wisconsin-Madison)

  • Robert T. McGee

    (University of Wisconsin-Madison)

Abstract

Recent research on the unobserved economy suggests that the phenomenon has important implications for both macroeconomic policy and public finance. Attention is focused on the public finance implications by examining a macro-model model from which it is possible to derive a family of Laffer curves. The model reveals that the final shape and position of the Laffer curve depends upon the strength of supply side effects, the progressivity of the tax system and the size of the unobserved economy. Using alternative parameterizations of each of these effects, we obtain rough empirical estimates of the Laffer curve for the UK. Reference: Journal of Economic Affairs, Vol. 3, No.1, October, 1982, pp.36-42.

Suggested Citation

  • Edgar L. Feige & Robert T. McGee, 2005. "The Unobserved Economy And The Uk Laffer Curve," Macroeconomics 0502013, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpma:0502013
    Note: Type of Document - pdf; pages: 6
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/mac/papers/0502/0502013.pdf
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    Citations

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    Cited by:

    1. Friedrich Schneider & Friedrich Schneider, 2008. "Shadow Economies and Corruption all over the World: What do we Really Know?," Chapters, in: Michael Pickhardt & Edward Shinnick (ed.), The Shadow Economy, Corruption and Governance, chapter 7, pages 122-187, Edward Elgar Publishing.
    2. Schneider, Friedrich, 2004. "The Size of the Shadow Economies of 145 Countries all over the World: First Results over the Period 1999 to 2003," IZA Discussion Papers 1431, Institute of Labor Economics (IZA).

    More about this item

    Keywords

    UNOBSERVED ECONOMY; UNDERGROUND ECONOMY; LAFFER CURVE; SUPPLY SIDE;
    All these keywords.

    JEL classification:

    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion and Avoidance
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

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