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Caribbean (LAC), but its size estimation has been mainly limited to worldwide models applied to the region. This paper proposes …
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informal sector on growth. This paper shows that the size of the informal economy also affects business cycle volatility … countries with larger informal economies tend to undergo increased volatility in output, investment and consumption over the …
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The shadow (underground) economy plays a major role in many countries. People evade taxes and regulations by working in the shadow economy or by employing people illegally. On the one hand, this unregulated economic activity can result in reduced tax revenue and public goods and services, lower...
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