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- W2061055215 abstract "A model of temporary equilibrium with rationing is formulated with both a “formal” sector and a “shadow economy” sector. There is Keynesian unemployment in the formal sector, but the shadow economy, in which there is self-employment of households, produces a commodity for which price is market-clearing. Any household may work in both sectors simultaneously. Policy changes directed at the formal sector may have general equilibrium interactions with the shadow economy that feed back on the formal sector. Among the results obtained is a condition under which the formal sector output multiplier is less than unity." @default.
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- W2061055215 date "1990-03-01" @default.
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- W2061055215 title "Keynesian unemployment and the shadow economy" @default.
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- W2061055215 doi "https://doi.org/10.1016/0164-0704(90)90034-8" @default.
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