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Liquid Assets? the Short-Run Liabilities of Binge Drinking

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  • Marco Francesconi
  • Jonathan James

Abstract

We estimate the effect of binge drinking on road accidents, accident and emergency (A&E) attendances and arrests using a variety of unique English data and a two-sample instrumental variables estimation procedure. Drinking $10+$ units of alcohol in a single session increases road accidents by 18.6%, injury-related A&E attendances by 6.6% and arrests by 71%. The marginal increase from eight to $10+$ alcoholic units implies nearly 6,100 extra road accidents every year, 63,000 additional A&E attendances and 100,000 additional arrests. The externality per mile driven by a binge drinker is about five pence and the punishment that internalises this externality is equivalent to a fine of £22,800 per drunk driving arrest.

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  • Marco Francesconi & Jonathan James, 2019. "Liquid Assets? the Short-Run Liabilities of Binge Drinking," The Economic Journal, Royal Economic Society, vol. 129(621), pages 2090-2136.
    • Handle: RePEc:oup:econjl:v:129:y:2019:i:621:p:2090-2136.
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    File URL: http://hdl.handle.net/10.1111/ecoj.12627
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    Cited by:

    1. Francesconi, Marco & James, Jonathan, 2021. "None for the Road? Stricter Drink Driving Laws and Road Accidents," Journal of Health Economics, Elsevier, vol. 79(C).
    2. Ahammer, Alexander & Bauernschuster, Stefan & Halla, Martin & Lachenmaier, Hannah, 2022. "Minimum legal drinking age and the social gradient in binge drinking," Journal of Health Economics, Elsevier, vol. 81(C).
    3. Marco Caliendo & Juliane Hennecke, 2022. "Drinking is different! Examining the role of locus of control for alcohol consumption," Empirical Economics, Springer, vol. 63(5), pages 2785-2815, November.
    4. Frank A. Sloan, 2020. "Drinking and Driving," NBER Working Papers 26779, National Bureau of Economic Research, Inc.
    5. Andrés Ham & Darío Maldonado & Michael Weintraub & Andrés Felipe Camacho & Daniela Gualtero, 2019. "Reducing Alcohol-Related Violence: A Field Experiment with Bartenders," Documentos de trabajo 17834, Escuela de Gobierno - Universidad de los Andes.

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