In this paper an empirical analysis is performed on the relationship between private consumption and underground economy for the Italian case. It is found that private market consumption and underground (or hidden) consumption may be defined as 'complementary goods': an increase in underground consumption tends to increase family market consumption and increase its marginal utility. An implication of this result is that the nonmarket sector does not offer hedging opportunities to the consumer-worker as stressed by Busato and Chiarini's (2004) artificial economy. Moreover, wealth effects associated with a change in underground consumption are negative. A statistical model confirms this structural interpretation.
The paper investigates the relationship between underground activities and financial deepening. The ...
The theory of full consumption insurance posits that households are insulated from all idiosyncratic...
This thesis examines the effect of household level decisions on the emergence of commodity money. It...
With the recent revision of the national accounts manuals it was determined that the unobserved econ...
The underground economy crucially affects growth and unemployment in both developed and developing c...
It is commonly thought that the underground economy is larger in Italy than in most other developed ...
It is commonly thought that the underground economy is larger in Italy than in most other developed ...
We study the underground economy in a dynamic and stochastic general equilibrium framework. Our mode...
For a comprehensive understanding of the informal sector, an analysis addressing the relationships a...
We present a model in which individuals' preferences are defined over their consumption, transfers t...
We study the underground economy within a dynamic and stochastic general equilibrium framework. Our ...
A real, almost palpable, connection exists between the official and the underground economy. More th...
In this endeavor an attempt has been made to investigate the major causes and factors of influence o...
in collana Documenti CEIS n°12 - AA.VV. “The Non-Observed Economy: Measurement and Policy Issue” bac...
Underground economy, in view of researchers, economists and jurists, is a theoretical complex constr...
The paper investigates the relationship between underground activities and financial deepening. The ...
The theory of full consumption insurance posits that households are insulated from all idiosyncratic...
This thesis examines the effect of household level decisions on the emergence of commodity money. It...
With the recent revision of the national accounts manuals it was determined that the unobserved econ...
The underground economy crucially affects growth and unemployment in both developed and developing c...
It is commonly thought that the underground economy is larger in Italy than in most other developed ...
It is commonly thought that the underground economy is larger in Italy than in most other developed ...
We study the underground economy in a dynamic and stochastic general equilibrium framework. Our mode...
For a comprehensive understanding of the informal sector, an analysis addressing the relationships a...
We present a model in which individuals' preferences are defined over their consumption, transfers t...
We study the underground economy within a dynamic and stochastic general equilibrium framework. Our ...
A real, almost palpable, connection exists between the official and the underground economy. More th...
In this endeavor an attempt has been made to investigate the major causes and factors of influence o...
in collana Documenti CEIS n°12 - AA.VV. “The Non-Observed Economy: Measurement and Policy Issue” bac...
Underground economy, in view of researchers, economists and jurists, is a theoretical complex constr...
The paper investigates the relationship between underground activities and financial deepening. The ...
The theory of full consumption insurance posits that households are insulated from all idiosyncratic...
This thesis examines the effect of household level decisions on the emergence of commodity money. It...