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Larceny

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  • Paul J. Zak

Abstract

A dynamic general equilibrium model of larceny – or property crime – is presented in which both economic conditions and government policies affect the commission calculus. The model provides a behavioral framework that is used to estimate the effects of government policies on the commission of larceny. Calibrating the model using data from cities in Los Angeles County, the impact of a number of government policies and of economic development on larceny are quantified. The simulations show that longer prison sentences and higher conviction rates for criminals are the most effective methods to reduce larceny; subsidizing leisure activities, increasing police expenditures and income transfers have little effect on larceny. Using a game-theoretic optimality criterion, all the policies examined are currently overfunded. Copyright Springer-Verlag Berlin Heidelberg 2000

Suggested Citation

  • Paul J. Zak, 2000. "Larceny," Economics of Governance, Springer, vol. 1(2), pages 157-179, July.
  • Handle: RePEc:spr:ecogov:v:1:y:2000:i:2:p:157-179
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    References listed on IDEAS

    as
    1. Edward L. Glaeser & Bruce Sacerdote & José A. Scheinkman, 1996. "Crime and Social Interactions," The Quarterly Journal of Economics, Oxford University Press, vol. 111(2), pages 507-548.
    2. Wolfgang Leininger, 1986. "The Existence of Perfect Equilibria in a Model of Growth with Altruism between Generations," Review of Economic Studies, Oxford University Press, vol. 53(3), pages 349-367.
    3. Alberto Alesina & Dani Rodrik, 1994. "Distributive Politics and Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 109(2), pages 465-490.
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    6. Tauchen, Helen & Witte, Ann Dryden & Griesinger, Harriet, 1994. "Criminal Deterrence: Revisiting the Issue with a Birth Cohort," The Review of Economics and Statistics, MIT Press, vol. 76(3), pages 399-412, August.
    7. Oded Galor & Joseph Zeira, 1993. "Income Distribution and Macroeconomics," Review of Economic Studies, Oxford University Press, vol. 60(1), pages 35-52.
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    12. Levitt, Steven D, 1997. "Using Electoral Cycles in Police Hiring to Estimate the Effect of Police on Crime," American Economic Review, American Economic Association, vol. 87(3), pages 270-290, June.
    13. John J. DiIulio, 1996. "Help Wanted: Economists, Crime and Public Policy," Journal of Economic Perspectives, American Economic Association, vol. 10(1), pages 3-24, Winter.
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    More about this item

    Keywords

    Key words:Larceny; Crime; Government Policy.; JEL classification:K42; E62; D31;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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