Economics, Econometrics and Finance
4 years ago

45% of US currency held abroad fuels booming underground economy

SSRN Electronic Journal
Overseas Holdings Of U.S.Currency And The Underground Economy
Edgar L. Feige

Paper Summary

The article discusses the underground economy and how much US currency is held abroad. The researchers found that 40% - 45% of US currency is held overseas, which is lower than previous estimates. This information can help estimate the size of the underground economy in the US.

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