The monetary method to measure the shadow economy: The forgotten problem of the initial conditions

Hildegart Ahumada; Facundo Alvaredo; Alfredo Canavese

doi:10.1016/j.econlet.2008.06.001

The monetary method to measure the shadow economy: The forgotten problem of the initial conditions

Hildegart Ahumada ¹ Facundo Alvaredo ^{2, 3, 4, 5} Alfredo Canavese ^{1, 5}

1 Universidad Torcuato Di Tella

2 CREST - Centre de Recherche en Économie et Statistique

3 PSE - Paris School of Economics

4 PJSE - Paris-Jourdan Sciences Economiques

5 CONICET - Consejo Nacional de Investigaciones Científicas y Técnicas [Buenos Aires]

Abstract : We show that when the money demand function used to estimate the size of the shadow economy includes the lagged dependent variable, the need to assume a known initial condition reappears as it was the case in the early monetary methods.

Keywords : Underground economy Informality Monetary method

Type de document :

Article dans une revue

Economics Letters, Elsevier, 2008, 101 (2), pp.97-99. 〈10.1016/j.econlet.2008.06.001〉

Domaine :

Sciences de l'Homme et Société / Economies et finances

Liste complète des métadonnées

https://hal-pjse.archives-ouvertes.fr/hal-00812857
Contributeur : Caroline Bauer <>
Soumis le : vendredi 12 avril 2013 - 22:22:00
Dernière modification le : jeudi 6 décembre 2018 - 01:50:22

The monetary method to measure the shadow economy: The forgotten problem of the initial conditions

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