KANAO, Koji; HAMORI, Shigeyuki - In: Economics Bulletin 30 (2010) 1, pp. 903-912
This paper empirically analyzes the size of the underground economy in Japan. The results show that (i) the size of the underground GDP peaked in the early 1990s but has been declining since; (ii) the underground economy reached its peak in around 1992, approximating 25% of nominal GDP; and (iii)...