Points To Save Lives: The Effects of Traffic Enforcement Policies on Road Fatalities
Miguel Almunia () and
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Gonzalo Gaete: University of Warwick
CAGE Online Working Paper Series from Competitive Advantage in the Global Economy (CAGE)
Traffic accidents cause more than one million annual deaths worldwide and yield substantial economic costs to society. This paper studies the effects of a penalty points system (PPS) introduced in Spain in 2006. We find a 20% decrease in cumulative road fatalities in the five years after the reform, compared to a synthetic control group constructed using a weighted average of other European countries. Using estimates of the value of a statistical life, we calculate that the PPS yielded a net economic benefit of €4.6 billion ($6 billion) over this period, equivalent to 0.43% of Spain’s GDP.
Keywords: road fatalities; traffic enforcement; penalty points system (PPS); synthetic control; Spain. JEL Classification: I18, R41, K32. (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hea, nep-reg, nep-tre and nep-ure
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https://warwick.ac.uk/fac/soc/economics/research/c ... 17_almunia_gaete.pdf
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Persistent link: https://EconPapers.repec.org/RePEc:cge:wacage:348
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