Discussion Paper Series 2013-E-3

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

Hiroshi Fujiki, Cheng Hsiao

We propose a panel data approach to disentangle the impact of “one treatment” from the “other treatment” 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.

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

Views expressed in the paper are those of the authors and do not necessarily reflect those of the Bank of Japan or Institute for Monetary and Economic Studies.

Copyright © 2013 Bank of Japan All Rights Reserved.

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