The Economic Effects of 9/11: A Retrospective Assessment

By Makinen, Gail

Book Id: WPLBN0000188809
Format Type: PDF eBook
File Size: 0.3 MB
Reproduction Date: 2008

Title:	The Economic Effects of 9/11: A Retrospective Assessment
Author:	Makinen, Gail
Volume:
Language:	English
Subject:	Government publications, Legislation., Government Printing Office (U.S.)
Collections:	Government Library Collection
Historic Publication Date:
Publisher:	Government Printing Office


Citation APA MLA Chicago Makinen, G. (n.d.). The Economic Effects of 9/11: A Retrospective Assessment. Retrieved from http://gutenberg.cc/

Excerpt
Excerpt: On the morning of September 11, 2001, a small group of dedicated fanatics hijacked four commercial airplanes in flight, crashed three of them into buildings symbolic in various ways of what they found offensive about the United States, and changed the course of American history. Shortly after this occurred, a group of CRS analysts was called upon to assess the possible effects of the terrorist attacks on the U.S. economy and the ability of the government to deal with them. This was but a small part of a much larger CRS effort on various aspects of terrorism that became an on-line electronic briefing book. This briefing book has been extraordinarily successful and has been used thousands of times by congressional staff. Over time, most of the economic entries served their purposes and were withdrawn.

Table of Contents
Contents An Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Economy-Wide Implications and the Fiscal-Monetary Response . . . . . . . . . 1 Terrorism and National Productivity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Oil Supply and Prices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 World Economies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 International Capital Flows and the Dollar . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Financial Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Sectoral, Industry, and Geographic Effects . . . . . . . . . . . . . . . . . . . . . . . . . . 4 A. Airlines . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 B. Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 C. Agriculture and Food . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 D. Small Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 E. New York City . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 F. Layoffs and Unemployment Benefits . . . . . . . . . . . . . . . . . . . . . . . . 6 G. Public Finances of the United States: Patriot Bonds . . . . . . . . . . . . . 6 Economy Wide Implications and the Fiscal-Monetary Response . . . . . . . . . . . . . 6 The Setting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 The Existing Picture of the Economy on 9/11 . . . . . . . . . . . . . . . . . . . . 7 The Picture of the 2001 Economy in 2002 . . . . . . . . . . . . . . . . . . . . . . 8 Actions Undertaken . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Monetary Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Fiscal Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Looking to the Future . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11