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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...
Persistent link: https://www.econbiz.de/10005505595
This article presents a two-sector dynamic general equilibrium model in which income smoothing takes place within the households (intra-temporally), and consumption smoothing takes place among the households (inter-temporally). Idiosyncratic risk-sharing within the family is based on an income...
Persistent link: https://www.econbiz.de/10005511228
We propose a joint dating of the Italian business and credit cycle on a historical horizon, by applying a local turning-point dating algorithm to the level of the variables. Along with short cycles, corresponding to traditional business cycle fluctuations, we also investigate medium cycles,...
Persistent link: https://www.econbiz.de/10011265254
We use official time series of the Italian evaded VAT base (Ministry of Finance) for the period 1980:1–2006:4 to investigate empirically the long-run characteristics of tax evasion and the relationship with the tax burden. Three hitherto unexplored issues are addressed. First, using different...
Persistent link: https://www.econbiz.de/10010987707
In this paper we investigate the relation between population, wages and urban population in the Italian economy. During the period examined, 1320-1870, the prevailing conditions were those of a poor, mainly agricultural economy with limited human capital and rudimentary technology. However,...
Persistent link: https://www.econbiz.de/10010948824
Several European countries, facing a sizeable underground economy, often adopt underground reducing policies mainly based on incentives in the tax-benefit system. Since empirical evidence manifests a substantial failure of such policies, we construct a simple model to indicate the crucial...
Persistent link: https://www.econbiz.de/10005005483
Persistent link: https://www.econbiz.de/10005010490
The recent fears of a sovereign debt crisis have spurred interest in the sustainability of public debt. There are two different approaches to the assessment of sustainability: the use of sustainability gap indicators (Blanchard et al., 1990) and the time series approach (Trehan and Walsh, 1988)....
Persistent link: https://www.econbiz.de/10010548150
This paper analyzes the effects of fiscal policy in Italy by employing a database containing two statistical novelties: quarterly fiscal variables on accrual basis and a time series estimate of tax evasion for the period 1981:1-2006:4. Following Revenue Agency suggestions, we use in a VECM the...
Persistent link: https://www.econbiz.de/10010559818
In this paper we investigate empirically the nature of the relation between underground employment and unions in Italy, focusing on certain productive sectors. The motivation for this analysis is the hypothesis of the existence of two different opposite channels through which unions affect...
Persistent link: https://www.econbiz.de/10008578611