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Evaluating The Long-Run Impacts Of The 9/11 Terrorist Attacks On U.S. Airline Travel, Scott Blunk, David Clark, James Mcgibany
Evaluating The Long-Run Impacts Of The 9/11 Terrorist Attacks On U.S. Airline Travel, Scott Blunk, David Clark, James Mcgibany
David E. Clark
Although the US airline industry began 2001 with 24 consecutive profitable quarters, including net profits in 2000 totaling $7.9 billion, the impact of the 9/11 event on the industry was substantial. Whereas the recession that began in early 2001 signaled the end of profitability, the 9/11 terrorist attacks pushed the industry into financial crisis after air travel dropped 20% over the September-December 2001 period compared to the same period in 2000. Given the decline in domestic air travel, an important question is whether the detrimental impact of the attacks was temporary or permanent. That is, did airline travel return to …
Incomplete Compensation And Migration Behavior: Has Anything Changed Between 1990 And 2000?, David Clark, William Herrin, Thomas Knapp, Nancy White
Incomplete Compensation And Migration Behavior: Has Anything Changed Between 1990 And 2000?, David Clark, William Herrin, Thomas Knapp, Nancy White
David E. Clark
Spatial equilibrium models rely on migration to arbitrage away differences in utility across locations net of moving costs, where remaining differences in wages and rents reflect the compensating differentials related to site-specific amenities. Recent refinements to the spatial equilibrium model focus upon the prospect of disequilibrium in amenity markets. Amenity market disequilibrium implies over- or under-compensation (incomplete compensation) across some locations, which suggests a role for these factors in subsequent migration. This paper follows the theoretical and empirical approach of Clark, Herrin, Knapp, and White (2003). An intercity wage regression is estimated where fixed effects capture the impact of site …