This paper provides a theoretical framework to understand the way in which exchange controls modify the behavior of the different agents in the economy, leading

The paper reviews recent theoretical and empirical developments in the analysis of informal currency markets in developing countries. The basic characteristics

The evidence of black market exchange rate systems and their impact on macroeconomic performance is well documented in this fully researched study of the proble

The multiple indicator-multiple cause (MIMIC) method is a well-established tool for measuring informal economic activity. However, it has been criticized becaus