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The economic impacts of a terrorist attack on the U.S. commercial aviation system
Peter Gordon1, James E Moore, Ji Young Park
1University of Southern California, Los Angeles, CA 90089, USA. pgordon@sppd.usc.edu
Abstract:
We use data on air passenger travel expenditures per passenger as well as statistical analysis of the air traffic lost for the two-year aftermath of the September 11, 2001, attacks to estimate direct demand losses for air transportation services. These are used along with a national input-output model to assess the full costs of these losses. Depending on assumptions made, the full losses to the U.S. economy were between $214.3 and $420.5 billion. These estimates are similar to those from other studies of such an event, and suggest that the high costs of effective countermeasures may be justified.
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