Counting The Cost Of Crime In Italy
The aim of this paper is to gauge the cost of crime in Italy by concentrating on a subset of offences covering about 64% of total recorded crime in year 2006. Following the breakdown of costs put forward by Brand and Price, the authors focus on the costs in anticipation, as a consequence and in response to a specific offence. The estimated total social cost is more than ? 38 billion, which amounts to about 2.6% of Italy's GDP. To show the usefulness of these measures, they borrow the elasticity estimates from recent studies concerning the determinants of crime in Italy and calculate the cost associated with the surge in crime fuelled by unemployment and pardons.