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Estimating The Macroeconomic Consequence Of 9/11, S. Brock Blomberg, Gregory Hess
Estimating The Macroeconomic Consequence Of 9/11, S. Brock Blomberg, Gregory Hess
CMC Faculty Publications and Research
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.