Exploring the Underground Economy

Studies of Illegal and Unreported Activity

Susan Pozo, Editor
Western Michigan University

Tax evasion. Illegal drugs. Overseas holdings of U.S. currency. Crime. What these issues have in common is their contribution to the underground economy, that multi-billion dollar entity prospering unofficially outside the realm of the conventional economy. Individually, the six contributors to this volume each provide a detailed examination of specific segments of the underground economy including its participants, attempts at measurement, and policy responses. Taken together, the essays offer a thorough overview that emphasizes the importance and magnitude of one of the largest economies in the world.

Topics

1. Overseas Holdings of U.S. Currency and the Underground Economy - Edgar L. Feige, University of Wisconsin-Madison
2. The Mismeasurement of Illegal Drug Markets- Peter Reuter, University of Maryland
3. The Supply of Youths to Crime - Richard B. Freeman, Harvard University and NBER
4. Explaining Tax Compliance - James Alm, University of Colorado at Boulder
5. Beating the System? - Ann Dryden Witte, Florida International University and Wellesley College
6. The Informal Economy: Perspectives from Latin America - Alejandro Portes, Johns Hopkins University.

"This is a valuable contribution to the still limited literature on the underground economy." Contemporary Sociology

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