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NISE Estimation of an Economic Model of Crime

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  • Eric Blankmeyer

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. "NISE Estimation of an Economic Model of Crime," Papers 2003.07860, arXiv.org.
    • Handle: RePEc:arx:papers:2003.07860
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    References listed on IDEAS

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    1. Arthur Lewbel, 2012. "Using Heteroscedasticity to Identify and Estimate Mismeasured and Endogenous Regressor Models," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 30(1), pages 67-80.
    2. Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119.
    3. Aviv Nevo & Adam M. Rosen, 2012. "Identification With Imperfect Instruments," The Review of Economics and Statistics, MIT Press, vol. 94(3), pages 659-671, August.
    4. Badi H. Baltagi, 2006. "Estimating an economic model of crime using panel data from North Carolina," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 21(4), pages 543-547, May.
    5. Cornwell, Christopher & Trumbull, William N, 1994. "Estimating the Economic Model of Crime with Panel Data," The Review of Economics and Statistics, MIT Press, vol. 76(2), pages 360-366, May.
    6. Eric Blankmeyer, 2018. "Simultaneous-equation estimation with no instrumental variables," Applied Economics Letters, Taylor & Francis Journals, vol. 25(15), pages 1097-1100, September.
    7. Anderson, T.W., 2010. "The LIML estimator has finite moments!," Journal of Econometrics, Elsevier, vol. 157(2), pages 359-361, August.
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    Cited by:

    1. Blankmeyer, Eric, 2021. "Explorations in NISE Estimation," MPRA Paper 108179, University Library of Munich, Germany.

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