No abstract

In this paper we use time-series techniques to examine whether monetary policy had symmetric effects across U.S. states during the 1958:1-1992:4 period. Impulse response functions from estimated structural vector autoregression models reveal differences in policy responses, which in some cases are substantial. We provide evidence on the reasons for the measured cross-state differential policy responses. The size of a state's response is significantly related to industry-mix variables, providing evidence of an interest rate channel for monetary policy, although the state-level data offer no support for recently advanced credit-channel theories.

This study examines the influence of business cycle fluctuations on street crime in the conceptual framework of Cantor and Land's(1985) seminal work distinguishing between opportunity and motivation effects. The analysis contributes to the literature three ways. First, we use cross‐section/time series data, which has several important advantages over simple time‐series or cross‐section data of previous studies. Second, it introduces a new and broader measure of business cycle conditions, one that more faithfully captures the logic of Cantor and Land's framework than previous measures do. Third, it focuses on the large decline in street crime of the 1990s, a central issue facing criminologists. Statistical models indicate that the strong economy of the 1990s reduced all four index property crimes and robbery by reducing criminal motivation. Business cycle growth produced no significant opportunity effect for any of the crimes studied.

No abstract

No abstract

No abstract

Objective. This article studies the impact of increasing incarceration rates on crime rates. First we seek to replicate the findings of previous studies utilizing the pooled, fixed-effects models (which are based on the assumption that the effect of imprisonment does not vary across states). Next we test the validity of this assumption. Finally, we present a new methodology to examine the imprisonment-crime relationship. Methods. Annual state-level data from 1971-1998 are used to estimate 51 state-specific regression models in which crime rates for seven major categories are functions of incarceration rates and a wide array of socioeconomic and dummy control variables. Results. Our findings are consistent with prior studies. More important, the assumptions upon which the fixed-effect models are based were found to be statistically invalid. The results of our new methodology reveal that imprisonment rates are not significantly related to crime in the majority of states for any of the seven crimes studied. Conclusions. Because the state-level lagged imprisonment coefficients varied from significant negative effects to significant positive effects (depending on the state and type of crime), we argue that it is inappropriate to speak about "the" effect of imprisonment on any particular crime or at the national level.

Lynching, Segregation, Conflict theory, Stratification economics, Racism,