how to measure informal markets? what are the criteria ,index, measures. want to test macro impact across countries.
Restrepo-Echavarria, Paulina. Macroeconomic Volatility (2014). The Role of the Informal Economy. European Economic Review, August 2014, Vol. 70, pp. 454-69.
Schneider, F., and D. Enste, (2010). Shadow Economies All Over the World: New Estimates for 164 Countries from 1999 to 2007, – World Bank Policy Research Working Paper 5356
By breaking down the unemployment rate. Getting data on frictional, structural, and cyclical unemployment. Also by checking the score of HDI and how well the country scores in education, and health. Indicators such as access to clean water/ access to education are very important. We check the GINI index. After historical data and industrial data is analyzed we perform a national survey (even with money incentive) to get actual real current data. Then we start applying reforms that decrease unemployment benefits while channeling the benefits to those who are seeking work. The most important is to also start applying this in the largest booming sector as the booming sector usually requires the most labor in the country.
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