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Confidence Intervals for the Underground Economy in Australia

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Abstract

Economists have proposed several different techniques for measuring the underground economy but the literature gives only point estimates not standard errors. This makes it difficult to see if different estimates are contained in one confidence band. This paper provides an approach to estimating confidence intervals for estimates of illicit economic behaviour. The approach is adaptable to existing econometric techniques and is likely to offer a better way to access the reliability of point estimates of the underground economy than subjective opinion.

Suggested Citation

  • Chris Bajada, 1999. "Confidence Intervals for the Underground Economy in Australia," Working Paper Series 91, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
    • Handle: RePEc:uts:wpaper:91
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    File URL: http://www.finance.uts.edu.au/research/wpapers/wp91.pdf
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    References listed on IDEAS

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    1. Kreps,David M. & Wallis,Kenneth F. (ed.), 1997. "Advances in Economics and Econometrics: Theory and Applications," Cambridge Books, Cambridge University Press, number 9780521589819, October.
    2. Phillip Cagan, 1958. "The Demand for Currency Relative to the Total Money Supply," Journal of Political Economy, University of Chicago Press, vol. 66(4), pages 303-303.
    3. Feige,Edgar L. (ed.), 1989. "The Underground Economies," Cambridge Books, Cambridge University Press, number 9780521262309, October.
    4. repec:bla:ecorec:v:75:y:1999:i:231:p:369-84 is not listed on IDEAS
    5. Edgar L. Feige, 1979. "How Big Is the Irregular Economy?," Challenge, Taylor & Francis Journals, vol. 22(5), pages 5-13, November.
    6. Christopher Bajada, 1999. "Estimates of the Underground Economy in Australia," The Economic Record, The Economic Society of Australia, vol. 75(4), pages 369-384, December.
    7. Kreps,David M. & Wallis,Kenneth F. (ed.), 1997. "Advances in Economics and Econometrics: Theory and Applications," Cambridge Books, Cambridge University Press, number 9780521589833, October.
    8. Andrew Dilnot & C. N. Miller, 1981. "What do we know about the black economy?," Fiscal Studies, Institute for Fiscal Studies, vol. 2(1), pages 58-73, March.
    9. Kreps,David M. & Wallis,Kenneth F. (ed.), 1997. "Advances in Economics and Econometrics: Theory and Applications," Cambridge Books, Cambridge University Press, number 9780521589826, October.
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