elibrary.imf.org

значно більші надходження; benchmark для L3 sensitivity, не “proof of theft”. [\[23\]]( )

while cash budget deficit financing is a separate presentation. A Treasury consolidated-budget deficit and an IMF-style general-government balance can legitimately differ because institutional coverage, accounting basis, grants, net lending

The 2014–15 contraction was another structural rather than ordinary cyclical break. By 2014 reserves had fallen sharply, while the subsequent adjustment combined exchange-rate flexibility, fiscal adjustment, energy reforms, bank resolution

The 1990s deserve a distinct inflation regime. Contemporary IMF work records extraordinary inflation during the early transition and subsequent sharp disinflation; this is precisely why converting karbovanets-era current values into modern

The current account is also not exports − imports; BPM6 includes primary and secondary income. [\[35\]]( )

Early-transition diagnosis. [\[51\]]( )

The transition nevertheless contains unmistakable institutional modernization. Ukraine moved from a distribution system still carrying large state and cooperative legacies in the early 1990s toward private trade, simplified microentrepreneu

Household transactions migrate toward decentralized markets while nominal turnover becomes extremely difficult to compare

Independent latent-variable estimates are substantially higher but **measure a different model construct**. The Medina-Schneider IMF research family estimates shadow economies internationally with MIMIC techniques rather than directly obser

IMF's 2026 analysis explicitly identifies possibilities for reclassifying labor as FOP activity and underreporting wages through the simplified system. [\[21\]]( )

IMF's 2026 Ukraine analysis reports a substantial productivity differential associated with informality even after controlling for size and industry—around 33% in the cited analysis. This is evidence of a productivity association, not proof