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Journal Articles Economics Letters Year : 2008

The monetary method to measure the shadow economy: The forgotten problem of the initial conditions

Abstract

We show that when the money demand function used to estimate the size of the shadow economy includes the lagged dependent variable, the need to assume a known initial condition reappears as it was the case in the early monetary methods.

Dates and versions

hal-00812857 , version 1 (12-04-2013)

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Hildegart Ahumada, Facundo Alvaredo, Alfredo Canavese. The monetary method to measure the shadow economy: The forgotten problem of the initial conditions. Economics Letters, 2008, 101 (2), pp.97-99. ⟨10.1016/j.econlet.2008.06.001⟩. ⟨hal-00812857⟩
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