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On the Economic Consequences of Mass Shootings

Author

Listed:
  • Abel Brodeur

    (University of Ottawa)

  • Hasin Yousaf

    (University of New South Wales)

Abstract

In this paper, we investigate the economic consequences of mass shootings. We find that shootings have negative effects on targeted counties’ economies. Estimates using three different comparison groups yield similar results. Examining the mechanisms, we find that residents of targeted areas: (i) develop pessimistic views of financial and local business conditions; and (ii) are more likely to report poor mental health, which hinders usual activities such as work, suggesting that shootings lead to decreases in productivity. Further, we find that greater national media coverage of shootings exacerbates their local economic consequences.

Suggested Citation

  • Abel Brodeur & Hasin Yousaf, 2025. "On the Economic Consequences of Mass Shootings," The Review of Economics and Statistics, MIT Press, vol. 107(1), pages 109-124, January.
    • Handle: RePEc:tpr:restat:v:107:y:2025:i:1:p:109-124
    DOI: 10.1162/rest_a_01241
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Health Harms of Mass Shootings Ripple Across Communities
      by ? in Stateline on 2022-11-14 06:00:00

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    Cited by:

    1. Ubaldi, Michele & Picchio, Matteo, 2024. "In the Wrong Place at the Wrong Time: The Impact of Mass Shooting Exposure on Mental Health," IZA Discussion Papers 17388, IZA Network @ LISER.
    2. Khai Chiong & Seung Mok (Simon) Kim & TI Tongil Kim, 2025. "Mass Shootings and Their Impact on Retail," Marketing Science, INFORMS, vol. 44(5), pages 985-994, September.
    3. Marika Cabral & Bokyung Kim & Maya Rossin-Slater & Molly Schnell & Hannes Schwandt, 2026. "Trauma at School: The Impacts of Shootings on Students’ Human Capital and Economic Outcomes," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 93(1), pages 327-365.
    4. Muñoz-Morales, Juan & Singh, Ruchi, 2023. "Do school shootings erode property values?," Regional Science and Urban Economics, Elsevier, vol. 98(C).
    5. Yongseok Kim & Junyeol Ryu & Myongjin Kim & Suman Basuroy, 2025. "Mass shooting, gender, and housing price disparities," Marketing Letters, Springer, vol. 36(3), pages 369-383, September.

    More about this item

    JEL classification:

    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations

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