Arbeitspapier
Growing apart or moving together? Synchronization of informal and formal economy cycles
We study the degree of synchronization between formal- and informal-economy business cycles. Using a comprehensive database of informal activity that covers a wide range of informality measures from almost 160 countries over the 1990-2018 period, we report two major results. First, fluctuations in informal-sector output are strongly positively correlated with those in formal-sector output. In contrast, fluctuations in informal employment are largely uncorrelated with those in formal-sector output. Second, movements in the formal economy tend to spillover to the informal economy. Using a novel set of instrumental variables, we show that fluctuations in formal-sector output "cause" movements in informal-sector output.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2115
- Klassifikation
-
Wirtschaft
Informal Economy; Underground Economy
Business Fluctuations; Cycles
Informal Labor Markets
Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
- Thema
-
Informal economy
self-employment
business cycle
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Elgin, Ceyhun
Kose, M. Ayhan
Ohnsorge, Franziska
Yu, Shu
- Ereignis
-
Veröffentlichung
- (wer)
-
Koç University-TÜSIAD Economic Research Forum (ERF)
- (wo)
-
Istanbul
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:22 MESZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Elgin, Ceyhun
- Kose, M. Ayhan
- Ohnsorge, Franziska
- Yu, Shu
- Koç University-TÜSIAD Economic Research Forum (ERF)
Entstanden
- 2021
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