Restricting Shadow Economy versus Macroeconomic Impacts. A Panel Data Analysis in EU, Japan, USA.
28 Pages Posted: 20 Dec 2013
Date Written: December 18, 2013
Abstract
It seems to be a trade-off between shadow economy restriction and macroeconomic repercussions. This view is expressed by (Era Dabla-Norris and Andrew Feltenstein, 2003) and is in agreement with the author of the present paper although approached in a different way. Author believes that present paper will trigger further research on the definition of shadow economy indicators as well as on the cost-benefit analysis in order to reach the “optimum” size of shadow economy, as mentioned in (Era Dabla-Norris and Andrew Feltenstein, 2003). Data are taken from Eurostat and (Schneider et al., 2010); (Schneider, 2013). The elaboration of these panel data is made feasible by means of the Eviews software package.
Keywords: GDP; Official Economy; Shadow Economy; Economic Growth; Investment; Entrepreneurship; Unemployment; Government Debt; Taxation; Poverty Risk; Stock Market; Social Welfare; Cost-Benefit Analysis; General Equilibrium Analysis; Optimization; Econometric models with panel data (single equation).
JEL Classification: O17, O4, D9, L26, E24, F34, H2, I3, D5, C61, C23.
Suggested Citation: Suggested Citation