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Abstract:

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CentrePiece Article
The Economic Impact of 9/11
Nick Bloom
October 2006
Paper No' CEPCP206:
Full Paper (pdf)

CentrePiece 11 (2) Autumn 2006

Major events like the terrorist attacks on New York of 11 September 2001 generate large but typically short-lived bursts of uncertainty. New research by Nick Bloom explores the effects of such shocks on employment, investment and productivity - and how monetary policy-makers should decide on the ideal response.

This article summarises 'The Impact of Uncertainty Shocks: Firm Level Estimation and a 9/11 Simulation' by Nick Bloom, CEP Discussion Paper No. 718