This paper aims to explore the extend of trade misinvoicing among OECD countries over the period 2006-2016. Following the standard approach developed by Morgenstern (1950), four categories of misreported bilateral transactions are estimated to highlight two channels used to shift illicit...

This paper aims at explaining observed distinct prices announced by a single supplier for an identical product, in an illegal framework. The modeling proposed here examines an augmented mark-up pricing equation for oligopolistic markets that includes a function of social discrimination. The...

The purpose of this article is to construct a Keynesian model which integrates the informal economy, based on a short-term analysis. From a structural system of 23 equations, we propose a simple modeling that allows for an assessment of the impact of illegal activities on the major macroeconomic...

The purpose of this research is to study the presence of illegal economy and money laundering processes from a macroeconomic perspective to analyze their economic effects and propose a conceptual framework that identifies its impact in terms of the mechanisms identified. Thus, considering the...

The purpose of this paper is to present an extended version of the IS/LM model, with illegal economy and money laundering in a closed economy, which allows an macroeconomic analysis of the effects of this presence on short-term equilibrium. Without disregarding the FATF´s money laundering...

The purpose of this paper is to present an extended version of the Mundell-Fleming model which allows a macroeconomic analysis of the effects stemming from illegal economy with money laundering on the short-term equilibrium for a small open economy. Without disregarding the FATF´s money...

The aim of this article is to evaluate the contribution of the banking sector to the economic growth of 16 Latin American countries, from 1979 to 2006. The econometric procedure is based on a panel data technique with fixed effects, classifying the countries in two samples according to their...

According to Kaldor (1970), regional growth patterns arise from a cumulative causation process as broadly combining two substantial mechanisms i.e. a productivity regime, known as the “Kaldor-Verdoorn” law, and a demand regime due to the expansion of exportations. This paper attempts to...

This paper puts forward an extended model of cumulative growth in which the effects of education and catch-up are integrated, following the Kaldorian ideas of increasing returns of scale and endogenous technical progress. Based on recent theoretical developments, this model allows for examining...

This paper analyzes an alternative theoretical framework in qualifying concrete growth phenomenon in Latin American region, based on the Kaldorian idea of cumulative causation. The latter is developed through two substantial mechanisms: a causal link between demand constraint and production...