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Modeling The Informal Economy: A Review

Author

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  • MIHĂILĂ, Teodora

    (National Institute of Economic Research ”Costin C. Kirițescu”, Romanian Academy)

Abstract

Informal economic elements are present worldwide and especially in emerging countries. Such elements are found in a wide range of economic aspects and seem to be immune to various policies aiming to contain and remove them. Quantifying the dynamics of informal economy is a complex endeavor. Despite this fact, the empirical literature dedicated to informal economic aspects has expanded during the last decades aiming to clarify the drivers and the dimensions of these phenomena. This paper follows the main contributions brought to the field in order to observe the evolution of the modeling tools devised to investigate, characterize and measure informal economy.

Suggested Citation

  • MIHĂILĂ, Teodora, 2015. "Modeling The Informal Economy: A Review," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 19(4), pages 93-103.
    • Handle: RePEc:vls:finstu:v:19:y:2015:i:4:p:93-103
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    More about this item

    Keywords

    informal economy; econometric modeling; estimation;
    All these keywords.

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy

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