NISE Estimation of an Economic Model of Crime
General Economics
2020-03-19 v1 Economics
Applications
Abstract
An economic model of crime is used to explore the consistent estimation of a simultaneous linear equation without recourse to instrumental variables. A maximum-likelihood procedure (NISE) is introduced, and its results are compared to ordinary least squares and two-stage least squares. The paper is motivated by previous research on the crime model and by the well-known practical problem that valid instruments are frequently unavailable.
Keywords
Cite
@article{arxiv.2003.07860,
title = {NISE Estimation of an Economic Model of Crime},
author = {Eric Blankmeyer},
journal= {arXiv preprint arXiv:2003.07860},
year = {2020}
}