Plausibly Exogenous [1912] - Highway Tolls (04/28/2025)

LHS Variable
Private business activity

RHS Variable
Highway tolls

Source of Exogenous Variation
Tolls on certain highways in Portugal were unexpectedly introduced in reaction to the sovereign debt crisis

- Audretsch, Dohse, and Santos (2020), “The effects of highway tolls on private business activity—results from a natural experiment”