{"product_id":"black-economy-hobart-papers-paperback-9780255366748","title":"BLACK ECONOMY Hobart Papers Paperback","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eMeasurement of the shadow economy is notoriously difficult as it requires estimation of economic activity that is deliberately hidden from official transactions. Surveys typically understate the size of the shadow economy but econometric techniques can now be used to obtain a much better understanding of its size.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTrade Review\u003c\/b\u003e\u003cbr\u003e\"A study by a free-market thinktank, the Institute for Economic Affairs, estimated that paid work not declared to the taxman was worth 10% of national income in 2012, half the level in Italy, Greece and Spain. The report, by economists Friedrich Schneider and Colin Williams, found that the UK's shadow economy was smaller than the 13.4% average for the 34 developed nations in the Organisation for Economic Cooperation and Development. The UK rate peaked at 13% in 1997-98.\" Larry Elliott, 'The Guardian'","brand":"Institute of Economic Affairs","offers":[{"title":"Default Title","offer_id":48883928432983,"sku":"9780255366748","price":11.88,"currency_code":"GBP","in_stock":false}],"url":"https:\/\/bookcurl.com\/products\/black-economy-hobart-papers-paperback-9780255366748","provider":"Book Curl","version":"1.0","type":"link"}