Currency Demand Analysis – one of the most popular macroeconometric techniques of shadow economy (SE) measurement – builds on equation explaining the share of cash in circulation in broader monetary aggregates, estimated ...

In this paper we estimate a Smets and Wouters (2007) model with shocks following a closed skew normal distribution (csn) introduced in Gonzalez-Farias et al. (2004), which nests a normal distribution as a special case. In ...

The aim of this paper is twofold. Firstly, we attempt to investigate the challenges for the constantly changing music industry on the ex- ample of Poland, positing a conclusion that both artists and lables could pro t ...

We develop an analytical framework to study global identification in structural models with forward-looking expectations. Our identification condition combines the similarity transformation linking the observationally ...

Model-based econometric techniques of the shadow economy estimation have been increasingly popular, but a systematic approach to getting the best of their complementarities has so far been missing. We review the dominant ...

Economic literature provides little discussion on the uncertainty around the macroeconometric shadow economy estimates. We fill this gap by deriving the measurement error of the shadow economy estimates stemming from the ...

The goal of this paper is to estimate the level and provide a sectoral decomposition of the VAT gap in Bulgaria based on the unique dataset provided by the National Revenue Agency in Bulgaria (NRA). We focus on the output ...

We estimate the personal income tax (PIT) gap in Bulgaria using the Pissarides and Weber (1989) methodology (“traces of true income” approach), which compares the relationship between food expenditure and income of ...

A model of cyclical signals, trend and noise is developed, allowing more than one cycle per each variable and the composition of cycles to differ for each macroeconomic aggregate. Estimation and best-model selection result ...