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Economic impact of the terrorist attacks of September 11, 2001

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  • John Virgo

Abstract

The economic impact of the September 11 terrorist attacks on the world economy is just beginning to be felt. U. S. GDP is roughly 30 percent of the world's GDP, so a recession in the U. S. will have ripple effects worldwide. Yet, the country's financial infrastructure is sound and remains intact. Eventually, the blow to the economy through weakened consumer confidence, unprecedented cuts in the Federal funds rate, rising unemployment levels, fears of deflation, and low world growth will be overcome. The market will recover and people will go forward with a renewed sense of purpose. As economists from countries around the globe, it is our challenge to lead the way by fostering international relations in the field of economics. We need to search for new ideas and new concepts with our world community of scholars. Let us rise to the challenges of today and tomorrow in this fast-changing economic, political, social, and legal environment that we find ourselves in. Copyright International Atlantic Economic Society 2001

Suggested Citation

  • John Virgo, 2001. "Economic impact of the terrorist attacks of September 11, 2001," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 29(4), pages 353-357, December.
    • Handle: RePEc:kap:atlecj:v:29:y:2001:i:4:p:353-357
    DOI: 10.1007/BF02299323
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    Cited by:

    1. Pieroni, Luca & d'Agostino, Giorgio & Lorusso, Marco, 2008. "Can we declare military Keynesianism dead?," Journal of Policy Modeling, Elsevier, vol. 30(5), pages 675-691.
    2. Huntington, Hillard G., 2004. "Shares, gaps and the economy's response to oil disruptions," Energy Economics, Elsevier, vol. 26(3), pages 415-424, May.
    3. Ito, Harumi & Lee, Darin, 2005. "Assessing the impact of the September 11 terrorist attacks on U.S. airline demand," Journal of Economics and Business, Elsevier, vol. 57(1), pages 75-95.

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