Questions tagged [black-market]

The black economy (conducted on the black market) is part of the economy that is illegal not merely because it is not taxed but also because it is considered damaging by society.

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What could cause the spike in the Venezuelan unofficial currency exchange?

In November last year the unofficial currency exchange rate in Venezuela skyrocketed. It was only one month later that the government was able to slow the increase rate to “normal” values. The ...
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Intermediate level macro/econometrics literature on grey/black markets

The grey economy is a part of the economy that is not taxed because it functions 'under the table'. It is illegal in the sense that it's a form of free riding, but it is not considered damaging by ...