Chiarini, Bruno; Ferrara, Maria; Marzano, Elisabetta - 2018
accelerator. For this purpose, we assume that financially constrained agents are tax evaders, taking advantage of an additional … the credit channel via the financial accelerator mechanism. The results show that tax evasion is pro cyclical and … strengthens the effects of the financial accelerator. Unlike the standard literature, in which tax evasion cushions business cycle …