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, German policy and law makers have been misguided during the last three decades. Therefore, we introduce the Modified-Cash …-Deposit-Ratio (MCDR) approach, which is not subject to the recent critique and apply it to Germany for the period 1960 to 2008 …. -- underground economy ; shadow economy ; cash-depositratio ; currency demand approach ; MIMIC approach …
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Breusch (2005b) critically addresses an important and challenging question: Is it reliable to use the Multiple Indicators Multiple Causes model to estimate Shadow Economy? Breusch concludes that this approach is not suitable for the purpose. Breusch's paper highlights the different procedures...
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We analyze for the first time cash holdings of private households in all euro area countries from 2002 to 2019 within a … panel cointegration framework. Besides the traditional determinants of cash demand like transactions balances and … opportunity costs, we concentrate on cashless payments media as substitutes to cash payments and the role of the shadow economy …
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