Economic impact of the terrorist attacks of September 11, 2001

Virgo, John M.

doi:10.1007/bf02299323

Cited by 26 publications

(17 citation statements)

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“…13 Determining aggregate job losses 27 at the national level attributable to September 11th, however, is almost impossible, since there 28 11 We also experimented with the level of non-farm employment as our macroeconomic variable, which yielded similar results. However, employment figures embody not only trend, but also cyclical fluctuations.…”

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confidence: 63%

“…But, the results were not much different from those obtained with the unemployment rate. 13 Consequently, to the extent that September 11th was directly or indirectly responsible for 4 higher levels of national unemployment, our estimation results will underestimate September 5 11's impact on airline demand.…”

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confidence: 75%

“…This directive remained in effect until August 12, 1993. on one-day trips), it is important to emphasize that such a dramatic decline in short-haul traffic is 13 6 O&D passengers count travelers based on the starting and ending point of their journey, regardless of whether or not they make a connection. We compare these two time periods because the year ending June 2003 represents the most recent data available from the Department of Transportation's DB1A quarterly database of O&D passengers.…”

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confidence: 99%

“…Firstly, we use the national unemployment rate 12 as our business cycle indicator. Secondly, we use the domestic labor force to control for the 13 long-term growth of the overall economy.…”

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confidence: 99%

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Assessing the Impact of the September 11 Terrorist Attacks on U.S. Airline Demand

Ito

Lee

2004

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Abstract This paper assesses the impact of the September 11th terrorist attacks and its after-effects on U.S. airline demand. Using monthly time-series data from 1986-2003, we find that September 11th resulted in both a negative transitory shock of over 30% and an ongoing negative demand shock amounting to roughly 7.4% of pre-September 11th demand. This ongoing demand shock has yet to dissipate (as of November 2003) and cannot be explained by economic, seasonal, or other factors. we find that September 11th resulted in both a negative transitory shock of over 30% Terms of use: Documents inand an ongoing negative demand shock amounting to roughly 7.4% of pre-September 11th demand. This ongoing demand shock has yet to dissipate (as of November 2003) and cannot be explained by economic, seasonal, or other factors.2

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confidence: 63%

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confidence: 75%

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confidence: 99%

“…Firstly, we use the national unemployment rate 12 as our business cycle indicator. Secondly, we use the domestic labor force to control for the 13 long-term growth of the overall economy.…”

mentioning

confidence: 99%

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Assessing the Impact of the September 11 Terrorist Attacks on U.S. Airline Demand

Ito

Lee

2004

SSRN Journal

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“…Most economists would probably agree that events like September 11, 2001, do affect how people behave, but how people react to "increased uncertainty" and what that means for the economy is an issue at the heart of the debate over economic theory and policy.…”

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confidence: 99%

On the need and use of models to explore the role of economic confidence:a survey.

Sprigg¹,

Paez

Hand

2005

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Empirical studies suggest that consumption is more sensitive to current income than suggested under the permanent income hypothesis, which raises questions regarding expectations for future income, risk aversion, and the role of economic confidence measures. This report surveys a body of fundamental economic literature as well as burgeoning computational modeling methods to support efforts to better anticipate cascading economic responses to terrorist threats and attacks. This is a three part survey to support the incorporation of models of economic confidence into agent-based microeconomic simulations. We first review broad underlying economic principles related to this topic. We then review the economic principle of confidence and related empirical studies. Finally, we provide a brief survey of efforts and publications related to agent-based economic simulation.4

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A Cross-Cultural Comparison of Business Students’ Perceptions of Job Market Success after September 11th

Johnson¹,

DeMoranville²

2014

Creating and Delivering Value in Marketing

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Economic impact of the terrorist attacks of September 11, 2001

Cited by 26 publications

References 0 publications

Assessing the Impact of the September 11 Terrorist Attacks on U.S. Airline Demand

Assessing the Impact of the September 11 Terrorist Attacks on U.S. Airline Demand

On the need and use of models to explore the role of economic confidence:a survey.

A Cross-Cultural Comparison of Business Students’ Perceptions of Job Market Success after September 11th

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