USA: Informal economy, DGE method
* indicates monthly or quarterly data series
USA |
Informal economy, DGE method |
---|---|
Latest value | 8.00 |
Year | 2020 |
Measure | percent |
Data availability | 1990 - 2020 |
Average | 8.57 |
Min - Max | 8.00 - 9.30 |
Source | Informal economy database |
The latest value from 2020 is 8 percent, a decline from 8.1 percent in 2019. In comparison, the world average is 28.16 percent, based on data from 156 countries. Historically, the average for the USA from 1990 to 2020 is 8.57 percent. The minimum value, 8 percent, was reached in 2020 while the maximum of 9.3 percent was recorded in 1990.
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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.
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