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We analyze how adding the shadow economy to official output figures affects technical efficiency. We find that this … only slightly affects the ranking of efficiency scores, but increases average efficiency. Our results are robust to the …
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; income ; aggregate productivity ; efficiency …We analyze how adding the shadow economy to official output figures affects technical efficiency. We find that this … only slightly affects the ranking of efficiency scores, but increases average efficiency. Our results are robust to the …
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This paper investigates the timing of the impact of changes in checks and balances on macroeconomic efficiency in a … greater efficiency. Furthermore, the impact of institutional changes on efficiency is delayed, with a full effect showing …
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