By David J. Pyle
This publication makes an attempt to study and summarize the as a rule imprecise specialist literature on tax evasion and the black economic system to supply a textual content that informs either the preferred and political debate in regards to the concerns involved.
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Extra resources for Tax Evasion and the Black Economy
4; my emphases). Laurent then attempts to see what happened to the ratio of currency transfers to demand deposit transfers between 1937-41 and 1976. To do this he requires information on turnover rates for both currency and demand deposits. Information on the latter is published and shows that turnover rates increased substantially during the period. The currency turnover rate has to be inferred - indeed Laurent only measures changes in this relative to its unknown 1939 level - from changes in the length of life of currency (see the discussion of the transactions approach for a more ingenious means of calculating turnover rates for currency).
9 (28) * Figures in parentheses express black economy activity as a percentage of GNP. ** Mirus and Smith use the ratio of currency to demand deposits not the ratio of currency to the M2 definition of the money supply. ***The base years chosen are 1937-9 (currency ratio); 1936 (modified currency ratio); and 1939 (transactions ratio). A few comments on Mirus and Smith's techniques are called for. In calculating the currency ratio they have followed Gutmann and taken the ratio of currency to demand deposits only.
1) where Ql = _Q_ 1 - :7t 4 Now, if tax rates were zero there would not be a need for a black economy. e. 2) Monetary Statistics and the Black Economy 43 It can be fairly easily shown, although it takes rather a long time, that: and Matthews further assurnes that TI So that: = 1. 6 It is then a simple matter to calculate the change in the size of the black economy between any two points in time. 1 per cent. There has been a great deal of interest in the application of monetary approaches in Scandinavia.
Tax Evasion and the Black Economy by David J. Pyle