THE IMPORTANCE OF PUNISHMENT SUBSTITUTABILITY IN CRIMINOMETRIC STUDIES

Eugene Braslavskiy, Firmin Doko Tchatoka and Virginie Masson

Bulletin of Economic Research, 2019, vol. 71, issue 3, 491-507

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.

Date: 2019
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https://doi.org/10.1111/boer.12191

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Working Paper: The importance of Punishment Substitutability in Criminometric Studies (2019)
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