Put your FTSE down: Wealth shocks and road traffic collisions

Zisen Chen and Jonathan James

Social Science & Medicine, 2022, vol. 314, issue C

Abstract: This paper examines the impact of a key source of wealth (the stock market) on road traffic collisions. Using data on over 2 million road accidents we do not find a linear relationship between stock prices and road crashes (fatal or otherwise) in Great Britain. However, we do find a V-shaped effect – collisions respond to the absolute change in stock market returns. The results are robust to a series of falsification exercises that potentially support a causal interpretation. We also examine another source of wealth that has not previously been examined – house prices. Similarly, we do not find that changes in monthly house prices have an impact on accidents, but a symmetric V-shaped is also shown for slight and serious accidents.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:socmed:v:314:y:2022:i:c:s0277953622007948

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DOI: 10.1016/j.socscimed.2022.115488

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