Identifying the impact of deterrence on crime: internal versus external instruments
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| Publication date | 2014 |
| Series | UvA-Econometrics Discussion Paper, 2014/03 |
| Number of pages | 12 |
| Publisher | Amsterdam: University of Amsterdam |
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| Abstract |
We consider estimation of the economic model of crime exploiting instrumental variables techniques for panel data. We extend the empirical analysis of Cornwell and Trumbull (1994) and show that their instrumental variables are very weak. We propose an alternative identification strategy based on the sequential moment conditions of Arellano and Bond (1991). The resulting GMM estimates of deterrence e¤ects on crime are considerably more precise. |
| Document type | Working paper |
| Note | This version: 23 April 2014 |
| Language | English |
| Published at | http://aseri.uva.nl/binaries/content/assets/subsites/amsterdam-school-of-economics-research-institute/uva-econometrics/dp-2014/1403.pdf?1398424720090 |
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