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
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