What accounts for the decline in crime?
Abstract: The authors? dynamic equilibrium model guides their quantitative investigation of the major determinants of property-crime patterns in the U.S. The model is capable of reproducing the drop in property crime that occurred between 1980 and 1996. The most important influences on the decline are a higher probability of apprehension, a stronger economy, and the aging of the population. The effect of unemployment on crime is negligible. Increased inequality in earnings prevented an even larger decline in crime. The authors? analysis can account for the behavior of the time series of property crime rates over the past quarter-century.
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Description: Full text
Provider: Federal Reserve Bank of Cleveland
Part of Series: Working Papers (Old Series)
Publication Date: 2000