Informal Economy in Russia: A Brief Overview by Svetlana Barsukova and Vadim Radaev_4 How the Law Really Works: The New Sociology of Law in Russia by Aryna Dzmitryieva_13 Commercialization of Police and Shadow Economy: The Russian Case by Leonid Kosals and Anastasia Dubova_21 Informal Employment in Russia: Why is it so Sustainable? by Tatiana Karabchuk_29 Freelancers in Russia: Remote Work Patt...

We propose a tractable and coherent framework that captures both conventional and unconventional monetary policies with the shadow fed funds rate. Empirically, we document the shadow rate’s resemblance to an overall financial conditions index, various private interest rates, the Fed’s balance sheet, and the Taylor rule. Theoretically, we demonstrate the impact of unconventional policies, such a...

This paper proposes an empirical dynamic stochastic general equilibrium (DSGE) framework to measure monetary policy when the nominal short-term interest rate is zero. The framework assumes that there exists a shadow rate which represents the monetary policy stance of a central bank. When the shadow rate is positive, it is observed as the policy rate of the central bank. However, when it is nega...

The underground economy (UE) also known as the shadow economy is a phenomenon known throughout the world. The growth of the UE is a matter of increasing concern, at least, throughout the developed nations. Researchers have recognized that the underground economy and crime are linked. Studies on the US, Canada and the transition economies indicate that crime and the shadow economy are facts of l...

This paper performs a systematic literature review on the shadow economy and its determinants based bibliometric approach. Based VosViewer Web of Science, we identified various drivers that clustered into three categories: (1) economic factors, (2) political institutional variables, (3) social factors. In last decades, increasing role factors is significant for flourish economy. analysis underp...