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1. What is the relationship between crime and punishment?
1. What is the relationship between crime and punishment? Use the dataset CRIME.DTA to explore this question. The dataset contains panel data from North Carolina (U.S.A) across 90 counties for years 1981-1987.
Consider a regression equation: LCRMRTE = ????0 + ????1PRBARR + ????2PRBPRIS + ????3PROBCONV + ????4POLPC + ????
where LCRMRTE is the log of the crime rate, PRBARR is the probability of an arrest, PRBPRIS is the probability of a prison sentence, PROBCONV is the probability of conviction, and POLPC is the number of police per capita.
(a) Using the data from 1987, estimate the above regression model and report the estimated results in equation format.
Shall use a dummyvariabel at year 1987 here, or should I just include the variabel as normal in the regression?
(c) Interpret the coefficient for PRBARR. When PRBARR i the probability of arrest, should I say that one percentage change in PRBARR will give a xx percentage change in estimated LCRMRTE or is it unit? it is a log-level model, but just confused when PRBARR is in probability. Then it maybe develops over to a log-log model?
Hope you can answer me.
Jonas
