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The paper reexamines the strengths and weakness of all direct and indirect methods of estimating the amount of US currency held abroad and concludes that between 25% -45% of US currency is held abroad. This result stands in sharp contrast to the widely cited estimates presented by Porter and...
Persistent link: https://www.econbiz.de/10005616752
This paper presents results from a calibrated welfare model of the UK mobile telephony market which includes many … focuses on the short-run effects of adopting lower mobile termination rates (MTRs) on total welfare, consumer surplus and … rates), increases social welfare, consumer surplus and networks’ profits. Depending on the strength of call externalities …
Persistent link: https://www.econbiz.de/10008529327
This paper studies how cross-sector strategic trade policy affects wages, country-wide profits, and welfare. I develop …. Consequences on income distributions are derived. Domestic social welfare is unambiguously penalized, suggesting political …
Persistent link: https://www.econbiz.de/10011109862
analyzes since a monopolistic situation the effect in terms of consumer welfare derived of changes in the price elasticity of …
Persistent link: https://www.econbiz.de/10011114048
Abstract This study empirically investigates the extent of noncompliance with the tax code and examines the determinants of federal income tax evasion in the U.S. Employing a refined version of Feige’s (1986; 1989) General Currency Ratio (GCR) model to estimate a time series of unreported income...
Persistent link: https://www.econbiz.de/10009369604
New Estimates of U.S. Currency Abroad, the Domestic Money Supply and the Unreported Economy Edgar L. Feige * Abstract Despite financial innovations that have created important new substitutes for cash usage, per capita holdings of U.S. currency amount to $2950. Yet American households and...
Persistent link: https://www.econbiz.de/10009369630
This paper develops a demographic model of the currency population by examining the birth and death rates of specific denominations of currency. This framework permits empirical estimation of the average lifetime of notes in circulation and hence the currency velocity (turnovers per year) of...
Persistent link: https://www.econbiz.de/10005837536
This paper examines the ‘currency enigma” which arises because despite financial innovation that has created important new substitutes for cash usage, U.S. per capita currency holdings now amount to $2700. American households and businesses admit to holding only 15 percent of the stock of...
Persistent link: https://www.econbiz.de/10008497643
Abstract This study empirically investigates the extent of non compliance with the tax code and the determinants of federal income tax evasion in the U.S. Employing the most recent data we find that 18-19% of total reportable income is not properly reported to the IRS, giving rise to a “tax...
Persistent link: https://www.econbiz.de/10008871205
The paper estimates the size of underground economy induced by tax evasion for cross-section of non-OECD countries using currency demand method. Unlike previous studies which usually focus only on the tax rate as the tax evasion factor, the paper presents theory consistent tax evasion estimates...
Persistent link: https://www.econbiz.de/10011110727