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La demande de billets de valeurs faciales élevées et les activités financières souterraines

Published online by Cambridge University Press:  17 August 2016

Gilbert Koenig
Gilbert Koenig*
Affiliation:
BETA-THEME, Université Louis Pasteur, Strasbourg
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Résumé

Cet article spécifie un cadre analytique permettant de déterminer la demande de grosses coupures qui, selon les travaux empiriques, émane essentiellement de l'économie souterraine. Cette demande permet d'alimenter une thésaurisation qui échappe à l'imposition et de financer des transactions qui du fait de leurs montants importants sont essentiellement financières.

Malgré son caractère très stylisé, le modèle utilisé permet de fonder théoriquement des relations établies sur le plan empirique entre la demande de billets et des variables, comme la pression fiscale et les taux de rendements des actifs financiers. Il formalise également certains arguments et intuitions exprimés en termes littéraires sur le rôle de la moralité fiscale, des mesures de contrôle et du coût du blanchiment dans le développement de l'économie souterraine que traduit celui de la demande de billets.

Sur la base des résultats ainsi obtenus, on analyse les mesures qui peuvent être envisagées par les autorités publiques pour agir sur le volume des grosses coupures offertes et demandées en vue d'influencer le développement des activités financières souterraines.

Summary

Summary

This paper presents a model which explains the demand for large banknotes which represent in the developed countries more than 40% of the issued notes and which are used mainly in the underground economy as means of hoarding in addition to being means of payment for large financial transactions.

In spite of its very stylised character, the model used makes it possible to base on the theoretical level the relation empirical established between the demand for large banknotes and variables like the tax pressure and the yields of the financial assets. It analyses also some arguments and intuitions expressed in literary way on the role of tax morality, measures of control and the cost of laundering in the development of the underground activities.

Within this analytical framework, one specifies the nature and the effectiveness of the instruments which can be used by the governments to influence the supply and the demand for high-denomination banknotes and to control the extension of the underground economy.

Keywords

Èconomie souterraineEvasion iscaledemande de billetsÈvasion ìscaleE41H26K42underground eoonomydemand for banknotestax evasionE41H26K42
Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 70 , Issue 4 , 2004 , pp. 425 - 442
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 2004 

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Footnotes

*

Je remercie les rapporteurs dont les remarques mêontpermis dêamÉliorela premiËre version de cet article.

References

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