We analyze the economic consequences on firm profitability, performance, and investments of having another firm in the same market affiliated with a criminal organization. We do so by evaluating the spillover effects of a law providing the judicial administration of organized crime firms through...

We provide evidence about voters' response to crime control policies. We exploit a natural experiment arising from the Italian 2006 collective pardon releasing about one third of the prison population. The pardon created idiosyncratic incentives to recidivate across released individuals and...

We study voters' response to public policies. We exploit a natural experiment arising from the Italian 2006 collective pardon that created idiosyncratic incentives to recidivate across released individuals and municipalities. We show that municipalities where resident pardoned individuals had a...