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Terrorism and the resilience of cities

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Author Info

  • James Harrigan
  • Philippe Martin

Abstract

The September 11 attacks in New York and Washington have forced Americans to confront the fact that to live or work in a large city is to be at greater risk of large-scale terrorism. What do these risks, and the public perception of them, imply for cities in general and the future of New York City in particular? In this article, the authors begin their exploration of this issue by examining why cities exist in the first place. To conduct their analysis, they simulate two key theoretical models of economic geography, using data that approximate the characteristics of a major U.S. city as well as estimates of the costs of the September 11 attacks. The authors conclude that the very forces that lead to city formation also lead cities to be highly resilient in the face of catastrophes such as terrorist attacks. They argue that New York City in particular is likely to continue to thrive despite any ongoing terrorist threat.

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Bibliographic Info

Article provided by Federal Reserve Bank of New York in its journal Economic Policy Review.

Volume (Year): (2002)
Issue (Month): Nov ()
Pages: 97-116

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Handle: RePEc:fip:fednep:y:2002:i:nov:p:97-116:n:v.8no.2

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Keywords: War - Economic aspects ; Urban economics ; Cities and towns ; Economic conditions - New York (N.Y.) ; Federal Reserve District; 2nd;

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References

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  1. Bart Hobijn, 2002. "What will homeland security cost?," Economic Policy Review, Federal Reserve Bank of New York, issue Nov, pages 21-33.
  2. Jess Gaspar & Edward L. Glaeser, 1996. "Information Technology and the Future of Cities," Harvard Institute of Economic Research Working Papers 1756, Harvard - Institute of Economic Research.
  3. Donald R. Davis & David E. Weinstein, 2001. "Bones, Bombs and Break Points: The Geography of Economic Activity," NBER Working Papers 8517, National Bureau of Economic Research, Inc.
  4. Edward L. Glaeser & Jesse M. Shapiro, 2001. "Cities and Warfare: The Impact of Terrorism on Urban Form," NBER Working Papers 8696, National Bureau of Economic Research, Inc.
  5. Mitchell A. Petersen & Raghuram G. Rajan, 2000. "Does Distance Still Matter? The Information Revolution in Small Business Lending," NBER Working Papers 7685, National Bureau of Economic Research, Inc.
  6. Jason Bram & James Orr & Carol Rapaport, 2002. "Measuring the effects of the September 11 attack on New York City," Economic Policy Review, Federal Reserve Bank of New York, issue Nov, pages 5-20.
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Citations

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Cited by:
  1. Bruno S. Frey & Simon Luechinger & Alois Stutzer, 2004. "Calculating Tragedy: Assessing the Costs of Terrorism," CREMA Working Paper Series 2004-23, Center for Research in Economics, Management and the Arts (CREMA).
  2. Tavares, Jose, 2004. "The open society assesses its enemies: shocks, disasters and terrorist attacks," Journal of Monetary Economics, Elsevier, vol. 51(5), pages 1039-1070, July.
  3. Fuerst, Franz, 2006. "The Aftermath of the 9/11 Attack in the New York City Office Market: A Review of Key Figures and Developments," MPRA Paper 13316, University Library of Munich, Germany, revised 09 Feb 2009.
  4. Abadie, Alberto & Dermisi, Sofia, 2008. "Is Terrorism Eroding Agglomeration Economies in Central Business Districts? Lessons from the Office Real Estate Market in Downtown Chicago," Working Paper Series rwp08-019, Harvard University, John F. Kennedy School of Government.
  5. Rossi-Hansberg, Esteban, 2004. "Cities under stress," Journal of Monetary Economics, Elsevier, vol. 51(5), pages 903-927, July.

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