|
|
Article: Economics of crime: panel data analysis of bank robbery in the United States.(Author abstract)(Report)
- Article from:
- Atlantic Economic Journal
- Article date:
- December 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 Atlantic Economic Society. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Introduction
According to a recent FBI report, in 2001 the rate of bank robbery was one every 52 min. Over the five year period, from 1996 through 2000, nearly half a billion dollars were robbed from banks, only 20 percent of which was recovered. Between 2000 and 2002 alone, the banks' loss of funds to bank robbery increased by an alarming 22.8 percent [Federal Bureau of Investigation, 2002a].
Few crimes garner as much public attention as bank robberies. The bravado of early bank robbers in the US, such as Jesse James, John Dillinger, Bonnie Parker, and Clyde Barrow, created a mystique which has been capitalized upon in several Hollywood movies (e.g., ...