Comment on Feige's Paper "Reflections on the Meaning and Measurement of Unobserved Economies: What do we really know about the 'Shadow Economy'?"

Friedrich Schneider ()

No 5818, CESifo Working Paper Series from CESifo

Abstract: This comment provides a reply to Prof. Feige’s paper with the title “Reflections on the Meaning and Measurement of Unobserved Economies: What do we really know about the ‘Shadow Economy’?”, in which Prof. Feige heavily criticizes me. I show that the same critique which Prof. Feige raises against me can be put forward to his results on the non-observed economy. Moreover, I show that my dataset is appropriately documented and I also address the problem of calibration and normalization issues when undertaking a MIMIC estimation. In the concluding chapter I suggest that a joint paper should be written in which all the pros and cons of each method of estimating the size and development of the non-observed/shadow economy are presented and criticized.

Keywords: shadow economy; non-observed economy or income; macro approaches; MIMIC and currency demand approach (search for similar items in EconPapers)
JEL-codes: C51 C82 E26 E41 H26 K42 O17 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (23)

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