Estimating the Size of the Danish Shadow Economy using the Currency Demand Approach: An Attempt

Friedrich Georg SCHNEIDER

187 citations0/0 files storedScandinavian Journal of Economics

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Taxation and Compliance Studies Economic and Fiscal Studies Crime, Illicit Activities, and Governance

Abstract

The currency demand approach provides some insight into the size and development of the shadow economy in Denmark. Currency demand is statistically affected by tax rates. The difference in currency demand is calculated by comparing the actual tax burden over time to the lowest tax burden in the period 1952-82. The shadow economy grew steadily to 10 per cent (of GNP) in 1977 and then fluctuated between 7-10 per cent (of GNP) for the period 1978-82. The calculated size fits nicely with the results obtained using the same

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References

1983Tax Evasion and Tax Rates: An Analysis of Individual Returns 1979The informal economy 1977The Subterranean Economy 1958The Demand for Currency Relative to the Total Money Supply 1984The hidden economy as an ‘unobserved’ variable 1983The Underground Economy in the United States: Annual Estimates, 1930-80 (L'economie clandestine aux Etats-Unis: estimations annuelles, 1930-80) (La "economia subterranea" de Estados Unidos: Estimaciones anuales, 1930-80)1979How Big Is the Irregular Economy?1984THE HIDDEN ECONOMY: STATE AND PROSPECTS FOR MEASUREMENT1

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2002Labor market institutions, taxation and the underground economy 1994Measuring the Size and Development of the Shadow Economy. Can the Causes be Found and the Obstacles be Overcome?2004‘Sizing’ the Problem of the Hard-to-Tax 2012The Shadow Economy and Work in the Shadow: What Do We (Not) Know?2002The Size and Development of the Shadow Economies of 22 Transition and 21 OECD Countries

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