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The Importance Of Punishment Substitutability In Criminometric Studies

Author

Listed:
  • Eugene Braslavskiy
  • Firmin Doko Tchatoka
  • Virginie Masson

Abstract

This study investigates the role of punishment substitutability in the empirical estimation of the economic model of crime. Using a dynamic panel data model fitted to a panel of Local Government Areas in New South Wales, Australia, we evaluate the effects of financial penalties and imprisonment on the crime rate. Our results show that crime is clearly a dynamic phenomenon, and that failure to incorporate both financial penalties and imprisonment can lead to a misspecified model. Furthermore, our results vary significantly for different crime categories, highlighting the importance of analysing specific crime categories separately.

Suggested Citation

  • Eugene Braslavskiy & Firmin Doko Tchatoka & Virginie Masson, 2019. "The Importance Of Punishment Substitutability In Criminometric Studies," Bulletin of Economic Research, Wiley Blackwell, vol. 71(3), pages 491-507, July.
    • Handle: RePEc:bla:buecrs:v:71:y:2019:i:3:p:491-507
    DOI: 10.1111/boer.12191
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    JEL classification:

    • K14 - Law and Economics - - Basic Areas of Law - - - Criminal Law
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C26 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Instrumental Variables (IV) Estimation
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation

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