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The Underground Economy of Czech Republic and Tax Evasion: The Currency Demand Approach

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F16%3A43909239" target="_blank" >RIV/62156489:43110/16:43909239 - isvavai.cz</a>

  • Result on the web

    <a href="http://dx.doi.org/10.1016/j.sbspro.2016.05.502" target="_blank" >http://dx.doi.org/10.1016/j.sbspro.2016.05.502</a>

  • DOI - Digital Object Identifier

    <a href="http://dx.doi.org/10.1016/j.sbspro.2016.05.502" target="_blank" >10.1016/j.sbspro.2016.05.502</a>

Alternative languages

  • Result language

    angličtina

  • Original language name

    The Underground Economy of Czech Republic and Tax Evasion: The Currency Demand Approach

  • Original language description

    This study investigates the underground economy of Czech Republic and the associated losses in tax revenue. The presence of an underground economy may not necessarily be bad for the economies in which they prevail but they could cause huge losses to government revenue and could also constitute serious violation of labour regulations. The study uses the Currency Demand Approach. It measures the size of the underground economy in two stages: a) the econometric estimation of an aggregate money demand equation b) the calculation of the value of the underground economy through the quantity theory of money. The key variables in the study include: the total currency held outside the banking system, the number of automatic teller machines, the deposit interest rate, GDP deflator, the average tax, velocity of money, nominal GDP and nominal money supply. The results from the study show that the underground economy of Czech Republic on the average is about 20.9% as at the end of 2013 and the country loses an average tax revenue of about 7.2% of GDP yearly. The data was obtained from the World Bank country indicators and the International Financial Statistics.

  • Czech name

  • Czech description

Classification

  • Type

    D - Article in proceedings

  • CEP classification

    BB - Applied statistics, operational research

  • OECD FORD branch

Result continuities

  • Project

  • Continuities

    I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Others

  • Publication year

    2016

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Article name in the collection

    Procedia - Social and Behavioral Sciences

  • ISBN

  • ISSN

    1877-0428

  • e-ISSN

  • Number of pages

    8

  • Pages from-to

    294-301

  • Publisher name

    Elsevier Science BV

  • Place of publication

    Amsterdam

  • Event location

    Brno

  • Event date

    Mar 10, 2016

  • Type of event by nationality

    EUR - Evropská akce

  • UT code for WoS article

    000386948700035