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dc.contributor.authorGranda Carvajal, Catalina-
dc.date.accessioned2017-07-28T12:48:03Z-
dc.date.available2017-07-28T12:48:03Z-
dc.date.issued2011-
dc.identifier.citationGranda Caravajal, C. (2011). Macroeconomic implications of the underground sector : challenging the double business cycle approach. Working Paper Series, (14), 1-57.es_ES
dc.identifier.urihttp://hdl.handle.net/10495/7820-
dc.description.abstractWithin the literature on business cycles featuring shadow economic activities, there is an approach based on the arguable premise that fluctuations in the official and unofficial sectors are negatively correlated. The present paper develops a real business cycle model that does not impose such an assumption. To do so, preferences are characterized so that regular and irregular labor are additively separable. Furthermore, leisure time is spent on both irregular work effort and non-market activities. Simulations are conducted to examine the performance of the model economy and to compare the resulting cyclical features with related empirical findings. In addition, computational experiments allow to analyze the effects of different tax structures, enforcement rates and tastes for irregular labor on the volatility and comovements of aggregate variables. These simulations and experiments overall offer a more comprehensive view of the cyclical implications of the shadow economy.es_ES
dc.format.extent1-57es_ES
dc.format.mimetypeapplication/pdfes_ES
dc.language.isoenes_ES
dc.publisherUniversity of Connecticut, Department of Economicses_ES
dc.type.hasversioninfo:eu-repo/semantics/publishedVersiones_ES
dc.rightsinfo:eu-repo/semantics/openAccesses_ES
dc.sourceinstname: Universidad de Antioquiaes_ES
dc.sourcereponame: Repositorio Institucional Universidad de Antioquiaes_ES
dc.sourceWorking Paper Serieses_ES
dc.subjectUnderground economyes_ES
dc.subjectShadow economyes_ES
dc.subjectBusiness cycleses_ES
dc.subjectDynamic stochastic general equilibrium modelses_ES
dc.titleMacroeconomic implications of the underground sector : challenging the double business cycle approaches_ES
dc.typeinfo:eu-repo/semantics/workingPaperes_ES
dc.relation.numero14es_ES
Aparece en las colecciones: CIC (Centro de Investigaciones y Consultorías en Ciencias Económicas)

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