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arXiv · 2003.07860

NISE Estimation of an Economic Model of Crime

Eric Blankmeyer
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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.

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Eric Blankmeyer. 2020-03-17. NISE Estimation of an Economic Model of Crime. https://arxiv.org/abs/2003.07860

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