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The Dynamics of Currency Substitution, Asset Substitution and De Facto Dollarization and Euroization in Transition Countries

Feige, Edgar L. - 2019

This paper presents new evidence on the dynamics of dollarization and euroization for twenty-five transition countries. Estimates of the amount of foreign currency in circulation (FCC) in transition countries are used to develop a new comprehensive dollarization index (CDI) and separate indices...

Persistent link: https://www.econbiz.de/10012868965

Professor Schneider's Shadow Economy : What Do We Really Know? A Rejoinder

Feige, Edgar L. - 2016

Professor Schneider's “Comment” on my “Reflections” paper does not adequately address the key issues concerning the veracity of his findings, namely issues of documentation, normalization, calibration and replication. Further findings of inadequate documentation, suspicious normalization...

Persistent link: https://www.econbiz.de/10012989359

Comment on Feige's Paper 'Reflections on the Meaning and Measurement of Unobserved Economies : What Do We Really Know about the 'Shadow Economy'?'

Schneider, Friedrich - 2016

This comment provides a reply to Prof. Feige's paper with the title “Reflections on the Meaning and Measurement of Unobserved Economies: What do we really know about the ‘Shadow Economy'?”, in which Prof. Feige heavily criticizes me. I show that the same critique which Prof. Feige raises...

Persistent link: https://www.econbiz.de/10012994281

Informality and the Long Run Phillips Curve

Ait Lahcen, Mohammed - 2018

This paper studies the implications of informality for the long run relationship between inflation, output and … and goods markets and where informality is an equilibrium outcome. Policies that lead to a larger informal sector result … informality and shifts both the Beveridge curve and the money demand relation downwards. An increase in the long run inflation …

Persistent link: https://www.econbiz.de/10012934395

Size and development of the shadow economies of 157 countries worldwide : updated and new measures from 1999 to 2013

Hassan, Mai; Schneider, Friedrich - 2016

of informality of 157 countries around the world, including developing, eastern European, central Asian and high income …

Persistent link: https://www.econbiz.de/10011571848

Macroeconomic volatility: The role of the informal economy

Restrepo-Echavarria, Paulina - In: European Economic Review 70 (2014) C, pp. 454-469

Many countries have a large informal economy that is poorly measured in the national accounts. I develop a two-sector small open economy business cycle model where one sector is formal and the other is informal, and explore the effect that the informal sector has on measured business cycles. I...

Persistent link: https://www.econbiz.de/10010931008

Australia’s underground economy – redux?

Breusch, Trevor - Volkswirtschaftliche Fakultät, … - 2006

Bajada (2006) recognises that his earlier books and papers used a faulty method for measuring the underground economy in Australia. He also reports finding a new “more serious problem” in the method. All of these failures can be avoided, it is claimed, by reduced use of currency modelling...

Persistent link: https://www.econbiz.de/10011267866

The myth of the “cashless society”: How much of America’s currency is overseas?

Feige, Edgar L. - Volkswirtschaftliche Fakultät, … - 2012

The rapid growth of substitutes for cash, particularly debit and credit cards, has led economists to predict the advent of the “cashless society”. Yet cash holdings in most developed economies continue to grow and in the U.S., per capita currency holdings now amount to $3000. This paper...

Persistent link: https://www.econbiz.de/10011259369

Measuring the Shadow Economy with the Currency Demand Approach - A Reinterpretation of the methodology, with an application to Italy

Ardizzi, Guerino; Petraglia, Carmelo; Piacenza, Massimiliano - Dipartimento di Scienze Economico-Sociali e … - 2011

We contribute to the debate on how to assess the size of the shadow economy by proposing a reinterpretation of the traditional Currency Demand Approach (CDA) a là Tanzi. In particular, we introduce three main innovations. First, we take a direct measure of cash transactions (the flow of cash...

Persistent link: https://www.econbiz.de/10009294990

What drives cash demand? Transactional and residual cash demand in selected countries

Balázs, Sisak - Magyar Nemzeti Bank (MNB) - 2011

The goal of this study is to determine the reasons behind high cash demand in several Central European countries, especially Hungary. We distinguish between legal and illegal cash demand in an attempt to model the former. In our approach, legal cash demand can be explained by transactional and...

Persistent link: https://www.econbiz.de/10009399621