"We anticipate the effects of federal sequestration will be mildly negative in broad terms, but they have potential to apply more acute credit pressures to specific jurisdictions, " it said in a report.

WSJ: Fiscal Pain to Be Parceled Out Unevenly

The differences between these two schools of thought are large and evident: for dualists, the informal economy is marginal, residual and comprises those who are most disadvantaged, while for voluntarists, it is a much more complex sector with context-specific dynamics and numerous connections and implications in terms of formality and regulation.

FORBES: Informality: A Marker Of Opportunity