Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
10474982 | Journal of Economics and Business | 2005 | 21 Pages |
Abstract
This paper assesses the impact of the September 11 terrorist attacks and its after-effects on U.S. airline demand. Using monthly time-series data from 1986 to 2003, we find that September 11 resulted in both a negative transitory shock of over 30% and an ongoing negative demand shock amounting to roughly 7.4% of pre-September 11 demand. This ongoing demand shock has yet to dissipate (as of November 2003) and cannot be explained by economic, seasonal, or other factors.
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Authors
Harumi Ito, Darin Lee,