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International Monetary Fund

.4. Caribbean: Estimated Size of the Informal Economy, early 2000s (In percent of GDP) Source: Author’s calculation based on Model 1 MIMIC results. 72. The implied series for the size of the informal economy are robust to alternative specifications . Table III.4 shows the absolute values of the informal economy for the ECCU and other Caribbean countries, derived using the different specifications employed in Models 1, 2, and 3. The informal economy estimates are similar across these models. Table III.4. Caribbean: Estimated Absolute Size of the

International Monetary Fund
This Selected Issues paper analyzes the income dispersion and comovement in the Eastern Caribbean Currency Union region. It finds that incomes are diverging, with the Leeward Islands converging to a higher income level than the Windward Islands. The paper examines the macroeconomic impact of trade preference erosion on the Windward Islands and demonstrates the substantial impact from preference erosion on growth, trade balances, and fiscal positions. The paper also analyzes the size of the informal economy in the Caribbean.
International Monetary Fund

This Selected Issues paper analyzes the income dispersion and comovement in the Eastern Caribbean Currency Union region. It finds that incomes are diverging, with the Leeward Islands converging to a higher income level than the Windward Islands. The paper examines the macroeconomic impact of trade preference erosion on the Windward Islands and demonstrates the substantial impact from preference erosion on growth, trade balances, and fiscal positions. The paper also analyzes the size of the informal economy in the Caribbean.

International Monetary Fund

This Selected Issues paper analyzes the income dispersion and comovement in the Eastern Caribbean Currency Union region. It finds that incomes are diverging, with the Leeward Islands converging to a higher income level than the Windward Islands. The paper examines the macroeconomic impact of trade preference erosion on the Windward Islands and demonstrates the substantial impact from preference erosion on growth, trade balances, and fiscal positions. The paper also analyzes the size of the informal economy in the Caribbean.

International Monetary Fund

This Selected Issues paper analyzes the income dispersion and comovement in the Eastern Caribbean Currency Union region. It finds that incomes are diverging, with the Leeward Islands converging to a higher income level than the Windward Islands. The paper examines the macroeconomic impact of trade preference erosion on the Windward Islands and demonstrates the substantial impact from preference erosion on growth, trade balances, and fiscal positions. The paper also analyzes the size of the informal economy in the Caribbean.

International Monetary Fund

This Selected Issues paper analyzes the income dispersion and comovement in the Eastern Caribbean Currency Union region. It finds that incomes are diverging, with the Leeward Islands converging to a higher income level than the Windward Islands. The paper examines the macroeconomic impact of trade preference erosion on the Windward Islands and demonstrates the substantial impact from preference erosion on growth, trade balances, and fiscal positions. The paper also analyzes the size of the informal economy in the Caribbean.

International Monetary Fund. Middle East and Central Asia Dept.

increasing strength after 2010. However, due to the 2005 and 2010 political upheavals, and the 2009 global financial crisis, it is difficult to find a statistically meaningful relationship between the business and financial cycles. In addition, the high presence of the informal economy—estimated between 24 and 40 percent—further blurs the trends in the business cycle. A weak interest rate channel also hampers the analysis. Credit and Nongold GDP Growth (Quarterly data; seasonally adjsuted; y-o-y) Sources: Authorities data and IMF staff calculations. B

Guillermo Javier Vuletin

2000–01. 22 De La Roca et al. (2002) studies the informal economy for Jamaica in the early 2000s, to evaluate the impact of the structural reforms of the 1990s. They found similar informal economy estimates using macroeconomic approaches like monetary and electricity consumption approach and microeconomic approaches based on the addition of the total amount of wages of the informal workers, the unreported income of the formal workers in the economy, and the value added generated by households’ independent activities whether agricultural or non-agricultural.

Guillermo Javier Vuletin
This paper estimates the size of the informal economy for 32 mainly Latin American and Caribbean countries in the early 2000s. Using a structural equation modeling approach, we find that a stringent tax system and regulatory environment, higher inflation, and dominance of the agriculture sector are key factors in determining the size of the informal economy. The results also confirm that a higher degree of informality reduces labor unionization, the number of contributors to social security schemes, and enrollment rates in education.