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

Vandoros, Sotiris; Kavetsos, Georgios; Dolan, Paul

doi:10.1111/risa.12123

Cited by 28 publications

(21 citation statements)

References 55 publications

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“…Existing evidence, however, suggests a potential causal link. For example, a recent study showed that the number of motor vehicle collisions increased during the first and second day following the announcement of austerity measures in Greece, before returning to previous levels [31]. Thinking about money and income inequality can also reduce social cohesion [32] and prompt individuals to think more selfishly [33].…”

Section: The Short-term Impact Of Economic Uncertainty On Motor Vehicmentioning

confidence: 99%

“…The We also included models using the previous day's level of uncertainty (a one-day lag) as an explanatory variable, because one day's reported uncertainty might affect people not only the same day, but also the day after, as well as subsequent days [31]. For the same reason, we also used a moving average of daily uncertainty in alternative models to smooth out the average effects of uncertainty over a few days.…”

Section: Datamentioning

confidence: 99%

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The short-term impact of economic uncertainty on motor vehicle collisions

Vandoros

Avendaño

Kawachi

2018

Preventive Medicine

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Stress and anxiety lead to attention loss and sleep deprivation and may reduce driving performance, increasing the risk of motor vehicle collision. We used evidence from a natural experiment to examine whether daily changes in economic uncertainty, potentially leading to attention or sleep loss, are associated with collisions in Great Britain. Daily data from the economic policy uncertainty index, derived from analysis of daily UK newspapers, were linked to the daily number of motor vehicle collisions in Great Britain over the period 2005-2015, obtained from the Department for Transport. Exploiting daily variations in economic uncertainty, we used a GARCH approach to model daily rates of motor vehicle collisions as a function of economic uncertainty, controlling for month and day of the week, monthly unemployment rates and weekly unleaded petrol prices. A spike in the daily economic uncertainty index was associated with an immediate increase in the number of motor vehicle collisions. Results were robust to various sensitivity analyses. Overall, daily increases in economic uncertainty are associated with short-term spikes in motor vehicle collisions. Preventive and traffic control measures may need to increase during periods of economic uncertainty.

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Section: The Short-term Impact Of Economic Uncertainty On Motor Vehicmentioning

confidence: 99%

Section: Datamentioning

confidence: 99%

The short-term impact of economic uncertainty on motor vehicle collisions

Vandoros

Avendaño

Kawachi

2018

Preventive Medicine

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“…In a related study,Vandoros et al (2014) find an increase in non-fatal road traffic accidents in Greece in days that immediately follow the announcement of austerity measures, which they attribute to the anxiety and stress brought about by the announcement.6 In further analysis we also consider alternative outcome variables, such as the number of vehicles and the number of fatalities, and alternative stock market indices, such as the Dow-Jones and Value Weighted Index.…”

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confidence: 99%

When the market drives you crazy: Stock market returns and fatal car accidents

Giulietti

Tonin

Vlassopoulos

2020

Journal of Health Economics

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The stock market influences some of the most fundamental economic decisions of investors, such as consumption, saving, and labor supply, through the financial wealth channel. This paper provides evidence that daily fluctuations in the stock market have important -and hitherto neglected -spillover effects in another, unrelated domain, namely driving. Using the universe of fatal road car accidents in the United States from 1990 to 2015, we find that a one standard deviation reduction in daily stock market returns is associated with a 0.5% increase in the number of fatal accidents. A battery of falsification tests support a causal interpretation of this finding. Our results are consistent with immediate emotions stirred by a negative stock market performance influencing the number of fatal accidents, in particular among inexperienced investors, thus highlighting the broader economic and social consequences of stock market fluctuations. JEL-Codes: D910, R410, G410. for very useful comments and discussions, as well as seminar participants at Southampton and Bolzano. We also thank Xiaocheng Hu and Abu Siddique for excellent research assistance.

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“…While the authorities work towards increasing efficiency with the implementation of (mainly) demand measures, it is crucial that any savings that occur are reinvested in the health sector as there is great need for additional funding elsewhere in the healthcare system [53]. Previous studies have shown that in other countries affected by the crisis, the populations' health deteriorated, either directly [54][55][56][57] or indirectly [58]. In order to prevent a public health disaster, any interventions adopted must increase efficiency without sacrificing quality of or access to healthcare.…”

Section: Discussion and Policy Implicationsmentioning

confidence: 97%

Cyprus in crisis: Recent changes in the pharmaceutical market and options for further reforms without sacrificing access to or quality of treatment

Petrou¹,

Vandoros²

2015

Health Policy

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The pharmaceutical market in Cyprus has been characterised by high volume and a steep increase in per-capita expenditure over the past decade. Most importantly, the market is fragmented due to the absence of universal health insurance, and the uninsured have to rely exclusively on the private market. The objective of this study is to examine the weaknesses of the Cypriot pharmaceutical market before the financial crisis; to discuss the measures recently introduced after recommendations by the Troika; and to propose interventions that can improve access to pharmaceuticals and efficiency without compromising health outcomes. Apart from the introduction of new pharmaceutical policies, we also recommend the swift implementation of universal health insurance.

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

Cited by 28 publications

References 55 publications

The short-term impact of economic uncertainty on motor vehicle collisions

The short-term impact of economic uncertainty on motor vehicle collisions

When the market drives you crazy: Stock market returns and fatal car accidents

Cyprus in crisis: Recent changes in the pharmaceutical market and options for further reforms without sacrificing access to or quality of treatment

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