Australia's Cash Economy: Are the Estimates Credible?
The method of 'excess sensitivity' of Bajada (1999, 2000, 2001) indicates a large underground economy in Australia, with estimates of unrecorded income approximately 15 per cent of official gross domestic product. These estimates concern policy-makers, especially those agencies responsible for national accounts, tax collection, economic stabilisation and law enforcement. We show that the method exhibits a severe form of non-robustness, in which the results change markedly with a simple change...[Show more]
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|Source:||The Economic Record|
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