@article{ref1,
title="Crime and Poverty: A Search‐theoretic Approach",
journal="International economic review",
year="2004",
author="Huang, Chien‐Chieh and Laing, Derek and Wang, Ping",
volume="45",
number="3",
pages="909-938",
abstract="Numerous studies document that criminal activity is positively related to unemployment and negatively related to educational attainment levels within given communities. We study this phenomenon in the context of a search-equilibrium model, in which agents choose between formal employment and pursuing crime-related activities (theft). Prior to their &quot;occupational choices,&quot; agents undertake costly schooling, raising their productivity. Crime acts, in essence, as a tax on human capital by affecting the probability that a worker's earnings (possessions) are subsequently appropriated. There are multiple equilibria. High crime, low levels of educational attainment, long spells of unemployment, and poverty are correlated across them.<p />",
language="",
issn="0020-6598",
doi="10.1111/j.0020-6598.2004.00291.x",
url="http://dx.doi.org/10.1111/j.0020-6598.2004.00291.x"
}