To address the well-established large-sample invalidity of the +/-1.96 critical values for the t-ratio in the single variable just-identified IV model, applied research typically qualifies the inference based on the first-stage-F (Staiger and Stock (1997) and Stock and Yogo (2005)). We fully...

Criminal justice expenditures have more than doubled since the 1980s, dramatically increasing costs to the public. With state and local revenue shortfalls resulting from the recent recession, the question of whether crime control can be accomplished either with fewer resources or by investing...