Serbia: Informal economy, DGE method

The latest value from is percent, unavailable from percent in . In comparison, the world average is 0.00 percent, based on data from countries. Historically, the average for Serbia from to is percent. The minimum value, percent, was reached in while the maximum of percent was recorded in . See the global rankings for that indicator or use the country comparator to compare trends over time. The value of that indicator for is percent.

Definition: This method of estimating the size of the informal economy is based on a Dynamic General Equilibrium model where economic agents can allocate time and effort in the formal and the informal sector. Their allocation decision is driven by model parameters such as government spending and taxation. The theoretical model is calibrated to arrive at a measure of the size of the informal economy. The estimate is put to further robustness tests. See Elgin and Oztunali (2012) for further methodological detail.