The hidden economy in Spain - A monetary estimation, 1964-1998
The aim of this paper is to estimate the level and evolution of hidden income in Spain during the period 1964-1997. To this end, we employ the well-known monetary approach which supposes that the hidden economy is a response on the part of the economic agents to the tax burden, one which manifests itself in an excess of demand for currency. The estimation has been made on the basis of the ADL technique, an ECM and Johansen's cointegration approach. The period chosen was characterised by multiple institutional changes, an increase in the tax burden and wide-ranging financial liberalisation. This has obliged us to formulate a specific monetary model to estimate the hidden economy and is one of the original features of that model.
Year of publication: |
2002-04-26
|
---|---|
Authors: | Gadea, Mariá Dolores ; Serrano-Sanz, José Mariá |
Published in: |
Empirical Economics. - Department of Economics and Finance Research and Teaching. - Vol. 27.2002, 3, p. 499-527
|
Publisher: |
Department of Economics and Finance Research and Teaching |
Subject: | hidden economy | monetary approach |
Saved in:
freely available
Extent: | application/pdf |
---|---|
Type of publication: | Article |
Notes: | received: February 1999/Final version received: March 2001 |
Classification: | E41 - Demand for Money ; E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation ; C22 - Time-Series Models |
Source: |
Persistent link: https://www.econbiz.de/10005184220
Saved in favorites
Similar items by subject
-
Australia's Cash Economy : Are the Estimates Credible?
Breusch, Trevor, (2006)
-
The measurement of Pakistan's black economy : a modified currency demand approach
Manzoor, Zafar, (2017)
-
Exploring the determinants of underground economy of Pakistan
Ashraf, Omer, (2019)
- More ...