Incarceration is costly – easily €100 to €200 per night per prisoner, depending on the country and the prison regime. That makes €36,500 to €73,000 per prisoner per year, excluding fixed costs of building prisons, and all other costs such as time not spent at work or with the family.
Games on Networks
Matthew O. Jackson, Yves Zenou, 9 September 2012
Vox readers can download CEPR Discussion Paper 9127 for free here.
How to reduce high incarceration rates
Ben Vollaard, 24 August 2012
Saving the banks, but not reckless bankers
Giancarlo Spagnolo, 13 August 2012
Recent revelations on traders’ behaviour in the Libor rigging case are worrisome not only as a sign of the rotten culture of financial operators, but also for the sense of legal impunity prevailing among them (Economist 2012).
Origins of the Sicilian Mafia
Arcangelo Dimico, Ola Olsson, Alessia Isopi, 13 May 2012
The Italian Mafia can be seen as one of the largest and most successful businesses in Italy. In one of the latest reports from the Italian Minister of Home Affairs, it has been estimated that revenues from just the informal sector related to the Mafia amount to almost €180 billion.
Can the Mafia divert the allocation of public transfers?
Guglielmo Barone, Gaia Narciso, 5 May 2012
Organised crime is widely regarded as damaging to economic outcomes – let alone the effects on people’s lives. Yet little is known about the mechanism at work. A recent study by Pinotti (2011) estimates the impact of organised crime on GDP-per-capita in Italy.
Can education policy be used to fight crime?
Randi Hjalmarsson, Helena Holmlund, Matthew Lindquist, 29 November 2011
How should society fight crime? Should we adopt tough-on-crime policies that increase monitoring and lengthen prison sentences? Or should we adopt a softer strategy aimed at alleviating poverty and combating discrimination?
Improving government efficiency through mechanism experiments
Sendhil Mullainathan, Jens Ludwig, 1 November 2011
There is a movement afoot to increase the efficiency of US government activities through greater use of ‘evidence-based policy’.
The impacts of education on crime, health and mortality, and civic participation
Lance Lochner, 17 October 2011
Given recent budget problems around the world, many governments have proposed sharp cuts to education. What are the likely long-run costs of these cuts? Growing evidence suggests that the lasting impacts of reductions in early childhood investments, school quality, and educational attainment among today’s youth are likely to extend beyond declines in future productivity and earnings.
Public safety through private action
Philip Cook, John MacDonald, 10 July 2011
With respect to crime at least, we’re far safer today than a generation ago. In the US, property crime rates (estimated from victimisation surveys) have dropped a remarkable 80% since 1980. In Britain, there has been a similar decline, with the British Crime Survey recording a 50% drop in crime since 1997.
Reducing the invitation to crime
Ben Vollaard, Jan van Ours, 7 July 2011
It takes more than a motivated offender to create a criminal act. A burglar needs an accessible home and no interference from a watchful neighbour. A car thief needs a vehicle that can be moved inconspicuously. A violent offender needs a suitable counter party.
- Fiscal consolidation: At what speed?Blanchard, Leigh
- Escaping liquidity traps: Lessons from the UK’s 1930s escapeCrafts
- The lessons of the North Atlantic crisis for economic theory and policyStiglitz
- Helicopter money as a policy optionReichlin, Turner, Woodford
- Rethinking macroeconomic policyBlanchard
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Reichlin, Baldwin, 14 April 2013
Reichlin, Turner, Woodford