The unprecedented 11 September 2001 terrorist attacks in the United States caused massive casualties and damage, and ushered in an era of greater uncertainty. While a prompt and vigorous policy response helped limit the immediate economic impact of the aggression, the heightened terrorist threat has some long-lasting, if diffuse, macroeconomic repercussions. Three channels of influence are explored in this paper: shrinking insurance coverage stemming from the perception of greater risk, higher trade costs possibly affecting international trade, and stepped-up security spending partially rolling back the “peace dividend” of the 1990s. It is argued that, in the absence of new large-scale terrorist attacks, and provided terrorism risk is dealt with efficiently, the net long-run macroeconomic impact is probably tangible but limited ...
Les conséquences économiques du terrorisme
Les attentats sans précédent du 11 septembre 2001 aux États-Unis ont causé des pertes humaines et des dégâts matériels énormes, et ont inauguré une ère de plus grande incertitude. Si une réponse rapide et vigoureuse des responsables a aidé à limiter l’impact économique immédiat de l’agression, le renforcement de la menace terroriste a des répercussions macroéconomiques durables, quoique diffuses. Trois canaux d’influence sont examinés dans la présente étude : une couverture d'assurance réduite résultant de la perception de risque plus important, des coûts de transaction plus élevés pouvant affecter le commerce international, et une augmentation des dépenses de sécurité renversant partiellement le « dividende de la paix » des années 90. Il en ressort qu’en l’absence de nouvelles attaques de grande ampleur, et à condition que le risque terroriste soit géré efficacement, l’impact macroéconomique net à long terme est probablement tangible mais limité ...
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Find related papers by JEL classification: D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty E23 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Production E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes F19 - International Economics - - Trade - - - Other F22 - International Economics - - International Factor Movements and International Business - - - International Migration G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Recreation; Tourism L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General L98 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Government Policy O49 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)