The Hare and the Tortoise. How Older Generations Are Replaced By Young One on the Labour Market: Signals and Insights from the Relationship between Shadow Economy and Active Ageing

Adriana AnaMaria Davidescu () and Catalin Corneliu Ghinararu ()
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Adriana AnaMaria Davidescu: Bucharest University of Economic Studies, National Scientific Research Institute for Labour and Social Protection, Romania
Catalin Corneliu Ghinararu: National Scientific Research Institute for Labour and Social Protection, Romania

Economia. Seria Management, 2015, vol. 18, issue 1, 163-171

Abstract: The paper aims to analyze the relationship between the size of Romanian shadow economy expressed as % of official GDP and active ageing in order to see if the shadow economy represents a social buffer for active ageing phenomena using Granger causality analysis. The size of Romanian shadow economy is estimated previously using a revised version of the currency demand approach based on autoregressive distributed lag (ARDL) approach to cointegration analysis. Using Granger causality tests, we examine the relationship between employment rate for older people and the size of Romanian shadow economy covering the period between 2000 and 2010. The empirical results revealed the existence of a long-run unidirectional causality that runs shadow economy to employment rate for elderly and do not support the existence of any short-run relationship between employment rate for older people and shadow economy.

Keywords: shadow economy; currency demand approach; active ageing; Granger causality; Romania. (search for similar items in EconPapers)
JEL-codes: C51 E26 H20 H50 O17 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:rom:econmn:v:18:y:2015:i:1:p:163-171

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