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.
© 2009 Walter de Gruyter
Blomberg, S. Brock, and Gregory Hess. "Estimating the Macroeconomic Consequence of 9/11." Peace Economics, Peace Science and Public Policy 15.2 (2009): Article 7. doi: 10.2202/1554-8597.1167