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作者：Cukierman, A
作者单位：Tel Aviv University
摘要：This paper is a pioneering attempt to take a systematic look at the effects of terror in Israel. It presents a theoretical analysis of the macroeconomic consequences of terror followed by empirical evidence for Israel. The theory part utilizes a steady state version of Blanchard (1985) finite lives model in which each individual faces a constant probability of death at every moment. The empirical part is, for the most part, based on level and first difference VAR's between GNP, non durable con...
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作者：Blomberg, SB; Hess, GD; Orphanides, A
作者单位：Claremont Colleges; Claremont McKenna College; Claremont Graduate University; Federal Reserve System - USA
摘要：We perform an empirical investigation of the macroeconomic consequences of international terrorism and interactions with alternative forms of collective violence. Our analysis is based on a rich unbalanced panel data set with annual observations on 177 countries from 1968 to 2000, which brings together information from the Penn World Table data set, the ITERATE data set for terrorist events, and data sets of external and internal conflict. We explore these data with cross-sectional and panel g...
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作者：Lacker, JM
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Richmond
摘要：The monetary and payment system consequences of the September 11, 2001, terrorist attacks and the Federal Reserve's response are reviewed. Interbank payment disruptions appear to be a central feature of many US banking crises, and interbank payment disruptions seem likely to recur. Federal Reserve credit extension following September 11 succeeded in massively increasing the supply of banks' balances to satisfy the disruption-induced increase in demand and thereby ameliorate the effects of the ...
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作者：Chari, VV
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
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作者：Eckstein, Z; Tsiddon, D
作者单位：Tel Aviv University; University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; Centre for Economic Policy Research - UK
摘要：This paper analyzes the effect of terror on the economy. Terror endangers life such that the value of the future relative to the present is reduced. Hence, due to a rise in terror activity, investment goes down, and in the long run income and consumption go down as well. Governments can offset terror by putting tax revenues into the production of security. Facing a tide in terror, a government that acts optimally increases the proportion of output spent on defense, but does not fully offset th...
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作者：Loayza, N
作者单位：The World Bank
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作者：Sarte, PDG
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Richmond
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作者：Williamson, SD
作者单位：University of Iowa
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作者：Rossi-Hansberg, E
作者单位：Stanford University
摘要：This paper studies the effect of terrorist attacks on the internal structure of cities. We develop an urban framework with capital structures suitable for the study of this question and analyze the long and short term implications of this type of events. In the long run, the analysis shows that a terrorist attack will affect urban structure only modestly, relative to the potentially large decrease in the level of economic activity in the city. Land rents will not decline at all locations. In t...
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作者：Brown, JR; Cummins, JD; Lewis, CM; Wei, R
作者单位：University of Pennsylvania; University of Illinois System; University of Illinois Urbana-Champaign; National Bureau of Economic Research
摘要：This paper examines the role of the federal government in the market for terrorism reinsurance. We investigate the stock price response of affected industries to a sequence of 13 events culminating in the enactment of the Terrorism Risk Insurance Act (TRIA) of 2002. In the industries most likely to be affected by TRIA-banking, construction, insurance, real estate investment trusts, transportation, and public utilities-the stock price effect was primarily negative. The Act was at best value-neu...
