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Disentangling the Effects of Multiple Treatments -Measuring the Net Economic Impact of the 1995 Great Hanshin-Awaji Earthquake

Author

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  • Hiroshi Fujiki

    (Associate Director-General and Senior Economist, Institute for Monetary and Economic Studies, Bank of Japan (E-mail: hiroshi.fujiki@boj.or.jp))

  • Cheng Hsiao

    (Professor, Department of Economics, University of Southern California (E-mail: chsiao@usc.edu))

Abstract

We propose a panel data approach to disentangle the impact of gone treatment h from the gother treatment h when the observed outcomes are subject to both treatments. We use the Great Hanshin-Awaji earthquake that took place on January 17, 1995 to illustrate our methodology. We find that there were no persistent earthquake effects. The observed persistent effects are due to structural change in Hyogo prefecture.

Suggested Citation

  • Hiroshi Fujiki & Cheng Hsiao, 2013. "Disentangling the Effects of Multiple Treatments -Measuring the Net Economic Impact of the 1995 Great Hanshin-Awaji Earthquake," IMES Discussion Paper Series 13-E-03, Institute for Monetary and Economic Studies, Bank of Japan.
  • Handle: RePEc:ime:imedps:13-e-03
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    References listed on IDEAS

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    11. William duPont IV & Ilan Noy, 2015. "What Happened to Kobe? A Reassessment of the Impact of the 1995 Earthquake in Japan," Economic Development and Cultural Change, University of Chicago Press, vol. 63(4), pages 777-812.
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    Cited by:

    1. du Pont IV, William & Okuyama, Yoko & Noy, Ilan & Sawada, Yasuyuki, 2015. "The long-run socio-economic consequences of a large disaster: The 1995 earthquake in Kobe," Working Paper Series 4197, Victoria University of Wellington, School of Economics and Finance.
    2. Fujiki, Hiroshi & Hsiao, Cheng, 2015. "Disentangling the effects of multiple treatments—Measuring the net economic impact of the 1995 great Hanshin-Awaji earthquake," Journal of Econometrics, Elsevier, vol. 186(1), pages 66-73.
    3. William duPont IV & Ilan Noy, 2015. "What Happened to Kobe? A Reassessment of the Impact of the 1995 Earthquake in Japan," Economic Development and Cultural Change, University of Chicago Press, vol. 63(4), pages 777-812.
    4. Yasuhide Okuyama, 2015. "How shaky was the regional economy after the 1995 Kobe earthquake? A multiplicative decomposition analysis of disaster impact," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 55(2), pages 289-312, December.
    5. Carlos Viana de Carvalho & Ricardo Masini & Marcelo Cunha Medeiros, 2016. "ARCO: an artificial counterfactual approach for high-dimensional panel time-series data," Textos para discussão 653, Department of Economics PUC-Rio (Brazil).

    More about this item

    Keywords

    Multiple Treatment Effects; Panel Data; Great Hanshin-Awaji Earthquake;

    JEL classification:

    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection

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