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on Law and Economics |
| By: | Michael Clemens (George Mason University) |
| Abstract: | Legal and illegal markets often coexist. In theory, marginal legalization can either substitute for the remaining parallel market, or complement it via scale effects. I study migrants crossing without prior authorization at the US southwest border, where large-scale unlawful crossing coexists with substantial, varying, and policy-constrained lawful crossing. I test whether lawful and unlawful crossing are gross substitutes or complements, using lag-augmented local projections to analyze a monthly time-series on the full universe of 10, 658, 497 inadmissible migrants encountered from October 2011 through July 2023. Expanded lawful crossings cause reduced unlawful crossings, an effect that grows over time and reaches elasticity –0.3 after approximately 10 months. That is, in this case, expanded activity on the lawful market substitutes for the parallel market, even net of scale effects. This deterrent effect explains approximately 9 percent of the overall variance in unlawful crossings. In an ancillary finding, I fail to reject a null effect of depenalizing unlawful crossings on future attempted unlawful crossings. |
| JEL: | F22 J61 K42 |
| Date: | 2024–04 |
| URL: | https://d.repec.org/n?u=RePEc:crm:wpaper:2410 |
| By: | Drydakis, Nick |
| Abstract: | This study investigates the relationship between social vulnerability, illegal activities, and location-based business disruptions in Athens, the capital of Greece. The research utilises repeated cross-sectional data from 2008, 2014, and 2023, gathered from areas with high levels of criminal activity, reflecting the experiences of business owners and managers in these locations. The findings reveal that heightened levels of social vulnerability-including the presence of illicit drug users and homeless individuals-alongside illegal activities such as gang-related protection rackets and black-market operations, are associated with increased location-based business disruptions. These disruptions manifest in assaults on employees and customers, business burglaries, reputational damage, supply chain problems, and decreased turnover. The study also examines the impact of economic conditions in 2014 and 2023, when Greece's Gross Domestic Product was lower than in 2008, indicating an economic recession. The findings suggest that the economic downturn during these years further exacerbated location-based business disruptions. Conversely, enhanced public safety measures, such as increased police presence, law enforcement, and improved public infrastructure, were associated with a reduction in these disruptions. Furthermore, an interesting insight was that businesses with longer operating histories tend to experience fewer location-based disruptions, indicating that operating history might be perceived as a resilience factor. The study suggests that policy actions should focus on increasing police visibility, providing financial support to high-risk businesses, funding urban regeneration projects, maintaining public infrastructure, and delivering social services aimed at helping marginalised communities escape vulnerability. |
| Keywords: | Social Vulnerability, Illegal Activities, Crime, Criminality, Business, Entrepreneurship, Business Disruptions, Economic Recessions, Public Safety |
| JEL: | K4 K42 L26 I3 E32 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:glodps:1495 |
| By: | Joosen, Bart; Pulgar Ezquerra, Juana; Tröger, Tobias |
| Abstract: | Banking Union is crucial for European integration, ensuring financial stability in the single market for financial services. The Court of Justice of the European Union (CJEU) plays an essential role in interpreting and enforcing the legal framework of the Banking Union, especially regarding the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). This in-depth analysis scrutinises the pertinent CJEU case law and highlights its implications for the Banking Union and the EU legal order. This document was provided/prepared by the Economic Governance and EMU Scrutiny Unit at the request of the ECON Committee. |
| Keywords: | Banking Union, European integration, Legal framework, EU Legal Order |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:safewh:303047 |
| By: | Ramon Abraham A. Sarmiento |
| Abstract: | This paper explores the realities of disclosure risks in the current big data landscape, examining implications for individuals, society, and the evolving ethical landscape. One these realities is pervasive use of dark patterns in data collection. Dark patterns are user interfaces crafted to trick users into doing things against their self-interest such as compromising their privacy. The has sparked significant ethical and legal debates on balancing confidentiality & privacy obligations with the need for precise research data. Thus, this paper seeks to shed light on the legal and ethical dilemmas of these disclosure risks arising from the intersection of data privacy, statistical data usage, and the employment of dark patterns, such as the possible insufficiency of existing data protection measures and their possible obsolesce in the age of big data. |
| JEL: | K29 K39 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:32926 |