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. 2021 Oct 6;140:103923. doi: 10.1016/j.euroecorev.2021.103923

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Fig. C.1 — Falsification test.

Note: This Figure plots the coefficient $β$ as estimated from Eq. (2) using two alternative dependent variables. The black solid line shows the relative evolution of excess mortality in 2019 for poorest municipalities ( $Q 1$ ) as compared to others. For the sake of comparison, we also display the excess mortality of 2020 as compared to the same, 2018 baseline.