Abstract

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.

Recommended Citation

Blomberg, S. Brock and Hess, Gregory D. (2009) "Estimating the Macroeconomic Consequence of 9/11," Peace Economics, Peace Science and Public Policy: Vol. 15 : Iss. 2, Article 7.
DOI: 10.2202/1554-8597.1167
Available at: http://www.bepress.com/peps/vol15/iss2/7