Greasy Roads: The Impact of Bad Financial News on Road Traffic Accidents

In this article, the authors explore the interrelationship between difficult financial times and traffic crashes. They undertook a natural experiment in Greece to study the effect of the announcement of austerity measures on subsequent road traffic crash data from 2010 and 2011. During this time, a number of austerity measures were announced, including salary and pension cuts and an increase in direct and indirect taxes. The authors controlled for other factors (gasoline prices, daylight savings time, and vacation versus working months) and ran their analyses for both fatal and nonfatal crashes (crashes all involved injuries). They conclude that the number of crashes increased significantly only on the first two days following the announcements of austerity measures. They include a brief discussion of the possible reasons for these findings.

Language

  • English

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Filing Info

  • Accession Number: 01529901
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Mar 24 2014 3:39PM