Estimating the Macroeconomic Consequence of 9/11
We perform an empirical investigation to estimate the macroeconomic cost of September 11 attacks on the United States economy. We estimate the impact of the attacks to be approximately a 0.50 percentage point decrease in GDP growth or $60 billion. Our upper bound estimate of the impact of September 11 is approximately twice that or $125 billion.
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Volume (Year): 15 (2009)
Issue (Month): 2 (July)
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