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Dead man walking: an empirical reassessment of the deterrent effect of capital punishment using the bounds testing approach to cointegration

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  • Paresh Kumar Narayan
  • Russell Smyth

Abstract

This paper empirically estimates a murder supply equation for the United States from 1965 to 2001 within a cointegration and error correction framework. Our findings suggest that any support for the deterrence hypothesis is sensitive to the inclusion of variables for the effects of guns and other crimes. In the long run we find that real income and the conditional probability of receiving the death sentence are the main factors explaining variations in the homicide rate. In the short run the aggravated assault rate and robbery rate are the most important determinants of the homicide rate.

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  • Paresh Kumar Narayan & Russell Smyth, 2006. "Dead man walking: an empirical reassessment of the deterrent effect of capital punishment using the bounds testing approach to cointegration," Applied Economics, Taylor & Francis Journals, vol. 38(17), pages 1975-1989.
    • Handle: RePEc:taf:applec:v:38:y:2006:i:17:p:1975-1989
    DOI: 10.1080/00036840500427288
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    Cited by:

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    2. Gerritzen, Berit & Kirchgässner, Gebhard, 2013. "Facts or Ideology: What Determines the Results of Econometric Estimates of the Deterrence Effect of Death Penalty? A Meta-Analysis," Economics Working Paper Series 1303, University of St. Gallen, School of Economics and Political Science.
    3. Berit C. Gerritzen & Gebhard Kirchgässner, 2013. "Facts or Ideology: What Determines the Results of Econometric Estimates of the Deterrence Effect of Death Penalty?," CREMA Working Paper Series 2013-04, Center for Research in Economics, Management and the Arts (CREMA).
    4. Ansgar Belke & Robert Czudaj, 2010. "Is Euro Area Money Demand (Still) Stable? – Cointegrated VAR versus Single Equation Techniques," Ruhr Economic Papers 0171, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    5. Muhammad Shahbaz & Muhammad Zeshan & Aviral Kumar Tiwari, 2015. "Analysis of renewable and nonrenewable energy consumption, real GDP and CO2 emissions: A structural VAR approach in Romania," Bulletin of Energy Economics (BEE), The Economics and Social Development Organization (TESDO), vol. 3(3), pages 105-118, September.
    6. Muhammad, Shahbaz & V G R, Chandran & Pervaiz, Azeem, 2011. "Natural gas consumption and economic growth: cointegration, causality and forecast error variance decomposition tests for Pakistan," MPRA Paper 35103, University Library of Munich, Germany, revised 30 Nov 2011.
    7. Ansgar Belke & Thorsten Polleit, 2006. "Monetary policy and dividend growth in Germany: long-run structural modelling versus bounds testing approach," Applied Economics, Taylor & Francis Journals, vol. 38(12), pages 1409-1423.
    8. Samuel Bindu & Lloyd Chigusiwa & D. Mazambani & L. Muchabaiwa & V. Mudavanhu, 2011. "The Effect of stock market wealth on private consumption in Zimbabwe," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 4(2), pages 125-142, August.
    9. Gebhard Kirchgässner, 2011. "Econometric Estimates of Deterrence of the Death Penalty: Facts or Ideology?," Kyklos, Wiley Blackwell, vol. 64(3), pages 448-478, August.
    10. Florian Verheyen, 2014. "The stability of German export demand equations – have German exports suffered from the strength of the euro?," International Economics and Economic Policy, Springer, vol. 11(4), pages 529-548, December.
    11. Fedoseeva, Svetlana, 2013. "Do German exporters PTM? Searching for right answers in sugar confectionery exports," Discussion Papers 62, Justus Liebig University Giessen, Center for international Development and Environmental Research (ZEU).
    12. Kollias, Christos & Mylonidis, Nikolaos & Paleologou, Suzanna-Maria, 2013. "Crime and the effectiveness of public order spending in Greece: Policy implications of some persistent findings," Journal of Policy Modeling, Elsevier, vol. 35(1), pages 121-133.
    13. Sahar Bahmani & Ali Kutan, 2010. "How stable is the demand for money in emerging economies?," Applied Economics, Taylor & Francis Journals, vol. 42(26), pages 3307-3318.
    14. repec:zbw:rwirep:0171 is not listed on IDEAS
    15. Verheyen, Florian, 2012. "Bilateral exports from euro zone countries to the US — Does exchange rate variability play a role?," International Review of Economics & Finance, Elsevier, vol. 24(C), pages 97-108.
    16. Ansgar Belke & Thorsten Polleit, 2005. "(How) Do Stock Market Returns React to Monetary Policy? - An ARDL Cointegration Analysis for Germany," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 253/2005, Department of Economics, University of Hohenheim, Germany.
    17. repec:ipg:wpaper:2014-289 is not listed on IDEAS
    18. Shahbaz, Muhammad & Arouri, Mohamed & Teulon, Frédéric, 2014. "Short- and long-run relationships between natural gas consumption and economic growth: Evidence from Pakistan," Economic Modelling, Elsevier, vol. 41(C), pages 219-226.
    19. De Vita, Glauco & Trachanas, Emmanouil, 2016. "‘Nonlinear causality between crude oil price and exchange rate: A comparative study of China and India’ — A failed replication (negative Type 1 and Type 2)," Energy Economics, Elsevier, vol. 56(C), pages 150-160.
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    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior

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