- Tytuł:
- Does the shadow economy violate the Walras equilibrium?
- Autorzy:
- Buszko, Andrzej
- Powiązania:
- https://bibliotekanauki.pl/articles/17915182.pdf
- Data publikacji:
- 2023-03-15
- Wydawca:
- Szkoła Główna Handlowa w Warszawie. Kolegium Zarządzania i Finansów
- Tematy:
-
shadow economy
market
equilibrium
model - Opis:
- The paper is devoted to examining the role of the shadow economy in the context of market equilibrium. The Walras theorem was used in order to highlight the role of the shadow economy in market equilibrium violation. Habitually, a majority of theories as well as models focus just on observed variables and latent factors are omitted. The shadow economy is an unprejudiced typical case in this respect. It exists in any economy and it very often influences market mechanisms significantly. A mathematical model was employed to exhibit dependence between the shadow economy and market equilibrium. Whenever the shadow economy is ignored in modeling market equilibrium, the market is proved to be balanced. The situation changes when the shadow economy is taken into account. Market equilibrium is difficult to be achieved.
- Źródło:
-
Journal of Management and Financial Sciences; 2022, 46; 21-31
1899-8968 - Pojawia się w:
- Journal of Management and Financial Sciences
- Dostawca treści:
- Biblioteka Nauki