This study provides an estimate of the size of the informal economy in the Nether lands in the period 1965-1982. In this study the informal economy has been defined statistically as that part of the non-registered national product which involves monet ary transactions. Bartering activities and transactions outside the market are thus left completely out of consideration. The same is true of those market transactions which, despite their illegal or underground nature, are already included in the national pro duct published by the Central Bureau of Statistics (CBS) because of its measuring...

Oatil the early 1970s monetary econometrics was virtually unexplored territory in the Netherlands. The Bank's econometric research, which I have had the privilege to direct since 1971, sought to map this territory gradually and thus to obtain the el ements for building a monetary model for the Netherlands. As regards the research strategy, I opted for the performance of studies on specific aspects. The quarterly model MORKMON presented in this monograph may be regarded as the conclusion of this research programme. When building the model and writing this monograph, I made heavy and unre...