Firms, Informality, and Development: Theory and Evidence from Brazil
构建并估计了一个均衡模型，企业可通过不注册（广泛边际）和雇佣未登记工人（集约边际）两种方式利用非正规性，分析表明考虑集约边际后，企业非正规性与劳动非正规性在政策变化下不必同向变动，且降低非正规性不一定提高产出或福利。
This paper develops and estimates an equilibrium model where heterogeneous firms can exploit two margins of informality: (i) not register their business, the extensive margin; and (ii) hire workers “off the books,” the intensive margin. The model encompasses the main competing frameworks for understanding informality and provides a natural setting to infer their empirical relevance. The counterfactual analysis shows that once the intensive margin is accounted for, firm and labor informality need not move in the same direction as a result of policy changes. Lower informality can be, but is not necessarily associated with higher output, TFP, or welfare.