Using a longitudinal household panel dataset in the United Kingdom, where most interviews are conducted in September each year, we are able to show that the attacks of September 11 resulted in lower levels of subjective well-being for those interviewed after that date in 2001 compared to those interviewed before it. This quasi-experiment provides one of the first examples of the impact of a terrorist attack in one country on well-being in another country. We value this effect through a cost of illness approach, which is estimated to be between £170 and £380 million.
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Paper provided by Department of Economics, University of York in its series Discussion Papers with number
09/10.
Length: Date of creation: Date of revision: Handle: RePEc:yor:yorken:09/10
Contact details of provider: Postal: Department of Economics and Related Studies, University of York, York, YO10 5DD, United Kingdom Phone: (0)1904 433776 Fax: (0)1904 433759 Email: Web page: http://www.york.ac.uk/depts/econ/ More information through EDIRC
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Find related papers by JEL classification: H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War I31 - Health, Education, and Welfare - - Welfare and Poverty - - - General Welfare