Property Rights, Predation, and Productivity*
构建了一个产权不完全的新古典增长模型，发现美国犯罪福利成本为人均消费的18.6%，而处于犯罪成本指数分布末位十分位平均水平的国家损失达57.8%。
Abstract I develop a neoclassical growth model with imperfect property rights in which predation entails both waste of resources and deadweight losses. According to the model, in the United States, the welfare costs of crime represent a loss of 18.6 percent of consumption per capita. This loss is 57.8 percent for a country in the average of the last decile of the distribution of an index of business costs of crime across 94 countries. An increase of one standard deviation in the institutional quality index increases GDP per worker by 23 percent for a country in the average of the last decile of its distribution.