Purpose – The purpose of this paper is to examine the impact of corruption on the size of the shadow economy in countries that differ with respect to income level or geographical location. The underlying idea is that the primary manifestation of corruption might be associated with country...

Purpose – The purpose of this paper is to examine the impact of corruption on the size of the shadow economy in countries that differ with respect to income level or geographical location. The underlying idea is that the primary manifestation of corruption might be associated with country...

This paper analyzes the dual exchange rate system with neutral intervention, emphasized by the classics in the field, whereby the central bank sells in the capital market the foreign exchange it acquires from the current transactions. In contrast to nonsterilized intervention analyzed earlier in...