Titelaufnahme

Titel
Growth in the shadows: effect of the shadow economy on U.S. economic growth over more than a century / Rajeev K. Goel (Illinois State University), James W. Saunoris (Eastern Michigan University), Friedrich Schneider (Johannes Kepler University Linz and IZA) ; IZA, Institute of Labor Economics
VerfasserGoel, Rajeev K. In der Gemeinsamen Normdatei der DNB nachschlagen ; Saunoris, James W. ; Schneider, Friedrich In der Gemeinsamen Normdatei der DNB nachschlagen
KörperschaftForschungsinstitut zur Zukunft der Arbeit In der Gemeinsamen Normdatei der DNB nachschlagen
ErschienenBonn, Germany : IZA Institute of Labor Economics, April 2017
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Elektronische Ressource
Umfang1 Online-Ressource (20 Seiten) : Diagramme
SerieDiscussion paper ; no. 10705
URNurn:nbn:de:hbz:5:2-121870 Persistent Identifier (URN)
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Growth in the shadows: effect of the shadow economy on U.S. economic growth over more than a century [0.51 mb]
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Zusammenfassung

This paper provides a long-term view by studying the effect of the underground or shadow economy on economic growth in the Unites States over the period 1870 to 2014. Shadow activities might spur or retard economic growth depending on their interactions with the formal sector and impacts on the provision of public goods. Nesting the analysis in a standard neo-classical growth model, we use a relatively new time-series technique to estimate the short-run dynamics and long-run relationship between economic growth and its determinants. Results suggest that prior to WWII the shadow economy had a negative effect on economic growth; however, post-WWII the shadow economy was beneficial for growth. This ambiguity regarding the overall growth impact of the shadow economy is consistent with underlying theoretical arguments.