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The importance of Punishment Substitutability in Criminometric Studies

Eugene Braslavskiy (), Firmin Doko Tchatoka and Virginie Masson
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Eugene Braslavskiy: School of Economics, University of Adelaide

No 2019-02, School of Economics and Public Policy Working Papers from University of Adelaide, School of Economics and Public Policy

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 misspecfied model. Furthermore, our results vary signifcantly for different crime categories, highlighting the importance of analysing specific crime categories separately.

Keywords: crime; deterrence; punishment; panel data; aggregation bias (search for similar items in EconPapers)
JEL-codes: C23 C26 C51 K14 (search for similar items in EconPapers)
Date: 2019-02
New Economics Papers: this item is included in nep-bec, nep-law and nep-ore
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Journal Article: THE IMPORTANCE OF PUNISHMENT SUBSTITUTABILITY IN CRIMINOMETRIC STUDIES (2019) Downloads
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