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Will Inflation Increase Crime Rate? New Evidence from Bounds and Modified Wald Tests

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  • Chor Foon Tang
  • Hooi Hooi Lean

Abstract

This paper employs the modified Wald (MWALD) causality test to re-examine the relationship between crime and its determinants (inflation and unemployment) in the United States from 1960 to 2005. Bounds test approach is employed to investigate the existence of a long-run relationship. The empirical evidence suggests that inflation and crime rates are cointegrated with a positive relationship. Moreover, the causal link is from inflation and unemployment to crime.

Suggested Citation

  • Chor Foon Tang & Hooi Hooi Lean, 2007. "Will Inflation Increase Crime Rate? New Evidence from Bounds and Modified Wald Tests," Global Crime, Taylor & Francis Journals, vol. 8(4), pages 311-323, November.
    • Handle: RePEc:taf:fglcxx:v:8:y:2007:i:4:p:311-323
    DOI: 10.1080/17440570701739694
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